Learn in our whitepaper how to avoid stumbling blocks and optimize the incoming invoice process in a short time with [...]
EASY Accounts Payable for SAP Solutions is the efficient tool to digitalise your accounts payable process directly in SAP®. Vendor invoices in paper format or invoices received electronically in various standardised formats are processed in a uniform, transparent way. Scanned paper documents or electronic invoices and the automatic recognition of invoice content represent the start of the overall process. After the transmission of the vendor invoice to SAP®, it is automatically processed as far as possible. The invoice documents are archived revision-proof across all processing steps and are available at the click of a button at any time. The SAP® FI based purchase ledger supports accounting clerks in their daily tasks, and comprehensive key process data serves the long-term process optimisation. A web-based approval matrix is available to auditors and budget managers, who can access it via smartphone or tablet, where necessary.
It is standard requirement for financial accounting to complete month-end and year-end closings efficiently and as close to the end of the period as possible. However, it is difficult to ensure that compliance guidelines are maintained and concrete figures are available to improve cash flow planning in a paper-based process. Employees often verify order-related invoices manually despite previously completing successful order requests and order processes, even when the correct receiving transactions are present. Vendor invoices which are in the processing workflow can often be subject to long transport and wait times. It goes without saying that the invoice verification and approval processes demand time and effort, especially for paper-based processes. Thankfully, this can all become a thing of the past with the accounts payable process in SAP®.
The consequences can be missed payment deadlines and potentially the loss of discount options. Invoices are repeatedly lost and might not be found due to inadequate process transparency. This can lead to companies initiating the process for an invoice multiple times and it may even be paid twice. If the finance department works as a shared service centre for several companies, an electronic solution such as accounts payable in SAP® is crucial.
Protracted invoice approval processes are a common problem. The integrated processor location in the payment program in SAP® takes issued approvals into account, thus reducing the workload for the approvers. Mobile work is supported. Approvals can be made conveniently on the desktop, smartphone, or tablet – with simple to use interfaces in SAP® Fiori®/HTML5. The incoming invoice process in SAP® is completely user-friendly.
The payment process begins with the standard processing of vendor invoices from a variety of channels: analogue paper invoices are scanned and digital invoices are automatically transmitted to the next processing step. For example, PDF invoices which arrive by email or are already in the EDI format.
All invoice documents are archived revision-proof across all processing steps and are always available at the click of a button – legally secure but still easy for the end user.
The accounts payable process in SAP® handles automated reminders of discount periods, payments due, etc. This means you will never miss another discount period and can avoid default costs.
Extensive statistics provide relevant KPIs, such as cycle times, automatic processing rates, or discount potential. As a result, the entire accounts payable process is highlighted and offers the basis for long-term optimisation – a functionality for reporting and controlling which is not to be underestimated.
From paper invoices, invoices attached to email as PDF through to electronic invoices in standardised formats such as EDI. The EASY Accounts Payable for SAP Solutions system excels at processing incoming supplier invoices.
EASY Accounts Payable for SAP Solutions automatically determines all the necessary invoice content: invoice header with creditor, total amount, invoice date, and all individual invoice items.
In the next step, the read data is checked for validity. For example, verifying the validity of a purchase order number. Validation can be performed directly in the scan client – EASY delivers an appropriate component with EASY Capture Plus for this. Alternatively, it can also take place directly within the SAP® GUI.
The original documents – scanned paper documents or email attachments are then stored revision-proof in an archive connected via SAP® ArchiveLink. Both early archiving with workflow and late archiving are supported. All historical data about the document, such as document changes, workflow approvals, etc. are also stored – accounts payable processing in SAP® has it all.
The invoice data is then recorded in SAP® and is available in the purchase ledger.
This is followed by the start of one SAP® workflow per invoice. Every incoming invoice in SAP® goes through an extensive invoice verification and rule set which has been tried and tested in many customer projects and, of course, can be adapted to individual customer needs. The rule set checks invoices, for example, for purchase order reference, the amount and price deviations, booked or missing goods receipt, payments already made as well as basic information such as the name of the supplier. After processing all the rules and the exception handling, the system forwards the invoices to the relevant approver for approval by SAP® workflow according to the sign-off guidelines of your company. Approvals can be made conveniently on your desktop, smartphone, or tablet – with user-friendly interfaces in SAP® Fiori®/HTML5. The invoice documents are only the click of a button away in every processing and approval step – the system even visualises EDI invoices in a user-friendly way.
Most invoices go through the above steps automatically, without further intervention being necessary. All others are posted following the completion of invoice verification and approval.