Make savings by automating invoice postings in SAP

FIS invoice processing technology automates data-entry, freeing up accounts payable resource. Invoices are processed in any layout, in different languages and currencies. The technology assists with supporting colleagues working from home.

Introduction

FIS are one of the leading software developers of applications that improve business processes in SAP ERP. The invoice processing solution provides time, effort and financial savings for organisations by:

  • Reducing manual data-entry tasks and additional human involvement
  • Positing a high proportion of invoice automatically into SAP (no touch processing)
  • Automatically forwarding FI (PO-exempt) invoices to individuals or groups
  • Providing a familiar SAP environment for invoice queries and approval workflow

Automated Invoice Data Extraction (FIS / fci)

FIS have developed one of the most effective technologies used for extracting supplier invoice data from a scanned or emailed attachment. By introducing technologies into the invoice data extraction process there is less manual keying and improved invoice data quality. Key invoice data can now be read from invoices with different formats, languages or currencies.

SAP Integrated Invoice Matching and Posting (FIS / edc)

As an integrated add-on to standard SAP, the invoice monitor technology enables invoices to be posted automatically or alternatively routes them to designated approvers or groups.

FIS / edc complements SAP ERP, creating new functions for the accounts payable team and approvers. The invoice monitor referencing real-time SAP data and enables incoming invoices to be identified as either payable or parked.

In addition workflows are incorporated into the invoice monitor to manage approvals. Additional functions are aimed at invoice assignments and complex invoice coding tasks.

In combination, FIS offer an enhanced process that releases accounts payable teams from mundane tasks. A high proportion of invoices are posted to SAP without any manual intervention. 

Functions of OCR Reader and Integrated Invoice Processing

Key Benefits

Reduced Effort for AP Team and Machine Learning. Invoice content is read automatically from day-one, so manual data-entry tasks are reduced. In time, the  data extraction technology "learns" the zones where the key data on an invoice resides for each supplier in a "knowledge database" - resulting in automatic reading of the invoice data.

(MM) Invoices that agree with the original PO and GRN in SAP could be posted automatically. (FI) Invoices can be assigned to accounts and forwarded automatically to individuals or departments.
Improved data quality. In the invoice data extraction component, invoice data is checked against SAP tables for vendor, company code and PO recognition. Net, tax and gross values are calculated to ensure that the data has been read correctly. Furthermore, the document can be classified (invoice, credit-note.. etc.) and assigned to the correct company code automatically.
 Rapid Adoption. As with all FIS add-on technologies, FIS / edc complements and works with standard SAP ERP presenting data from SAP transactions and new FIS transactions to assist with invoice queries.
Accounts Payable teams work within standard SAP GUI display formats and approvers use FIS / edc approval workflows using SAP Web Dynpro and Fiori App standards. By developing proprietary technologies using SAP platforms means that FIS applications are easy to adopt for organisations already familiar with standard SAP.
Deep integration with SAP standard. FIS / edc harnesses the intrinsic power and of SAP with no modifications to SAP standard being necessary. The processing technology presents information in real-time from the SAP database - so no data exchanges. SAP add-ons are easier to maintain when SAP upgrades and enhancement packs are introduced.
Diagram illustrating remote working for Accounts Payable Teams
Working from home and Hybrid working
Many customers have adapted to the change in working practices brought about by the coronavirus pandemic. Firstly, most customers have worked with their suppliers to further increased the proportion of invoices received via email - and reduced the volume received in paper format.
In this way, invoices are read automatically and manual completions, if required, can be actioned remotely. FIS / edc is also able to accommodate electronic invoices (EDI) and checks their credentials before posting.
Adopting an electronic method of invoice recognition means that organisations are not unduly hindered by the accounts payable team working from home.