OpenText Vendor Invoice Management (VIM) for SAP gives users the ability to approve invoices before they are created in the SAP database. This approval system is simple and allows for high amounts of customization with a multi-level approval approach. It is available for both PO and Non-PO based invoices. Multi-level approvals are supported by non-PO natively. PO invoices however, only have one step approvals but are capable of multi-level approvals with the right customization. Approval can be delayed by first sending it to VIM’s AP Processor. The approval process ends when the invoice is posted, deleted, or rejected.
Some key roles involved with the invoice approval process are a person responsible for entering the data, business user who requests the goods or services, person responsible for approving the invoices once they are sent, and a member of the AP team responsible for dealing with the invoices. Whether you are implementing Vendor Invoice Management or are an existing customer, it is important to get the best value out of your investment.
Implementation
When implementing any new technology, it gives organizations the opportunity to review and optimize business efficiencies. Don’t invest in new technology and run your business as usual. This is a trap that many fall into which results in poor adoption and fails to leverage the anticipated as well as the expected value of the product. When considering and embarking on VIM solutions, it is important that good disciplines and best practices are adopted. Take this as an opportunity to streamline your business process.
Reviewing your business invoice approval process is important as well as understanding and implementing an efficient workflow. VIM is configured to handle the approval and disposition of your invoices.
Organizations need to identify the roles required and the workflow for approvals to:
- Identify business users assigned as stated above
- Set up the roles required
- Configure the workflow
- Configure the approval process
Workflow When Utilizing VIM
The basic workflow when utilizing VIM is a simple one.
Step 1. Enter the invoice, whether that be through email, paper (Optical Character Recognition), or fax.
Step 2. As soon as the invoice is entered by an end user, the invoice goes into the FIN system.
Step 3. Once it enters the system, a workflow is created and you will be able to see that the invoice gets posted.
Step 4. After the invoice is posted inside the system, the Accounts Payable team will be allowed to process the information.
Additional roles based on workflow can be added. For non-PO invoices VIM leverages the Chart of Authority. It allows for the setup of approvals that may differ from PO generated invoices. For example, the requester may also be the user that enters the data.
Best Practices
Implementing best practices in your financial operations starts with structuring your organization to maintain a smaller, more efficient labor footprint. By simplifying routing and approval workflows, and enabling remote approvals, you can accelerate turnaround times and improve overall AP satisfaction. Enhanced invoice change controls increase usability and customization, while automated processing and receiving free up time for higher-value tasks. With digitized invoices captured directly in SAP, your team benefits from seamless integration and more robust financial processes.
These improvements support faster invoice processing, reduce the risk of financial penalties from avoidable errors, and provide clearer reporting across processing, approvals, and completion, ultimately ensuring stronger control, greater visibility, and a measurable return on your investment. OpenText provides an easily digestible piece of content that outlines ways to allow for more productivity with your VIM setup.
What Comes Next?
Auritas is equipped with experienced data and finance automation specialists who can support you at every stage of your initiative. If your organization leverages an SAP environment and you would like to learn more about VIM, explore upgrade options, or understand how VIM can align with your strategic roadmap, we invite you to connect with us. Our team is ready to answer any questions you may have.
