Sanford, Fla. — January 2024 — Auritas, a global ERP products and services company specialized in data management and process optimization, announced today the release of the Auritas Accruals Engine. The new value extension will allow OpenText Vendor Invoice Management for SAP users to automate their accruals process for enhanced productivity and efficiency.
The value extension is designed for SAP customers running OpenText VIM, assisting organizations to reduce the risk of manual tasks and length of the accruals process by 80% while ensuring compliance with auditing requirements.
The Auritas Accruals Engine’s features and capabilities allows companies to:
- Automate financial close process for inflight invoices within VIM;
- Cater to global, local and industry specific accounting rules;
- Accrual account determination by category (expenses, tax, freight);
- Flexibility in accrual postings;
- Accrual posting procedures and accrual reporting;
- Auto accrual and reversals based on accrual calendars.
“Drawing from years of experience collaborating with AP/AR teams, we’ve identified this distinct gap in the financial closing process; an error prone, time-consuming accruals processing. Through the implementation of the Auritas Accruals Engine, customers can ensure heightened compliance and accuracy while optimizing their financial closing procedures,” said Mani Ramaswamy, Chief Technology Officer at Auritas. “We are excited to launch this value extension for customer looking to enhance efficiency in their financial closing processes.”
For more information on the Auritas Accruals Engine and other products by Auritas, visit the product page.
Auritas is a global ERP products and services company specialized in data management, process optimization, and product innovation, with a focus on SAP Enterprise customers. Since its inception in 2003, Auritas has been closely aligned with SAP & has established itself as a leading pioneer in the market for all things data & process. In its two decades of experience, the company specializing in sophisticated approaches to Information Lifecycle Management (ILM), Legacy Decommissioning, Enterprise Information Management (EIM), Enterprise Content Management (ECM), Business Transformations for AP/AR, and SAP S/4 HANA.
Visit www.auritas.com for more information about Auritas products and services.