What is VIM?
OpenText Vendor Invoice Management (VIM) for SAP Solutions is one of many OpenText solutions for SAP, a tool designed to optimize and automate invoice processing of suppliers within the SAP system. By integrating VIM, companies can reduce manual errors, accelerate approval cycles, and improve the visibility of financial obligations.
Advantages of having VIM integrated into SAP
The implementation of OpenText VIM for SAP Solutions offers multiple advantages that have a positive impact on the financial operations of organizations:
• Invoice automation up to 80%: from data capture and validation to accounting for invoices, minimizing manual intervention and reducing the possibility of human error. Get to know this success story from a Brait customer.
• -25% of costs associated with the manual management of invoices.
• 30% improvement in processing time: by standardizing and streamlining the invoice workflow, processing time is accelerated and payment deadlines are met is guaranteed.
• Visibility and control: provides a complete view of the status of invoices in real time and their KPIs, facilitating informed decision-making and proactive management of accounts payable.
• Scalability: adapts the solution to the needs of the company, regardless of its size.
• Regulatory Compliance: ensures that all processes comply with current regulations.
What is VIM Analytics and its usefulness for companies
The Solution OpenText VIM for SAP Solutions presents a wide range of possibilities for analyzing key data, as can be seen with VIM Central Reporting.
Another form of Reporting in VIM is specifically VIM Analytics which offers a panel of supplier invoices and filters that make it easier to search for a specific DP (DP is the name given to the invoice that enters VIM), to track the status, to check for activated exceptions and to view the documents attached to an invoice or invoices. In addition, invoices posted directly to SAP or VIM can be viewed and tracked in VIM Analytics.
The results of the data report are presented on a single screen and a detail panel is also included that provides additional information about an invoice selected through the Next Views:
- Process view: you see the open and completed VIM processes along with the current state of the workflow, the current user, and the reason for the exception of this particular process.
- View of images: shows the scanned and linked images.
- Line Item View: shows the invoice items per line.
- History View: shows the VIM process and approval history.
- Comments View: includes comments that were added during the VIM process and during the approval process.
VIM Analytics Current Liability Report
The Current Liability Report is part of VIM Analytics and provides a clear data report on the documents that are parked in the system, providing the Accounts Payable department with accurate information on current liabilities, facilitating periodicals at the end of the month or period.
It includes parked invoices and, optionally, credit notes that are in a parked state. It also considers DP documents that were created but have not been processed as SAP documents. Both order invoices and non-PO invoices are allowed. There are several options within the report to calculate subtotals or download to Excel and customize the data, such as ignoring lines that are below a certain amount.
At Brait we optimize your SAP system with VIM
At Brait, we specialize in SAP solutions, including OpenText VIM for SAP Solutions, and we offer personalized advice to help companies optimize their financial management processes. If you want to improve the efficiency and control of your bill flow, contact us to discover how we can help you digitally transform your business.
