How SAP Standard Processes Are Streamlined With FIS/edc

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The existing SAP standard invoice processing methods involve a large amount of human interaction. FIS/edc is a plug-in that works within the current SAP environment, and streamlines the invoice management experience so that businesses can operate more efficiently.

FIS/edc is one of a number of SAP integrated technologies developed by FIS and offers additional functions to simplify SAP processes. Installing FIS/edc comes with a range of benefits::

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Increasing The Efficiency Of Existing SAP Business Processes

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The manual processing of supplier invoices can be time consuming and expensive, meaning that businesses are using up time that could otherwise be spent in a more productive capacity. Businesses are continuously exploring new methods to make their procedures more efficient, in order to reduce operational costs whilst not compromising on the quality of outcomes. Improvements in business processes and making them more economical is a strategic vison for all enterprises.

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Time Saving Technologies for Accounts Departments with SAP.

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With SAP standard the processing of supplier invoice processing entails a significant amount of manual work and human interaction. The current standard process mean that the AP team could be wasting a lot of time on manual tasks that might be better with assigned to technology.

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FIS Technology Significantly Reduces Operational Costs within Accounts Payable Departments

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Most enterprises have an intention to process their supplier invoice payments in an economical manner and to ensure that the Accounts department is running efficiently. Businesses want to keep their operational costs low still provide high quality data. Organisations are continuously looking at methods to lower costs and business improvement processes.

For supplier invoice processing, the time-consuming tasks of the manual work combine result in costs that could be best served with technology alternative. The FIS invoice processing technology, FIS/edc, provides a cost-effective solution to the existing manual tasks, which save businesses time and money and offer more reliable results. The technology significantly reduces the cost of processing supplier invoice payments and allows the Accounts Payable team to run more efficiently – with more time to perform more valuable tasks.

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How FIS Technology Can Boost Efficiencies in SAP ERP

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In SAP standard, the manual processing of supplier invoices can consume a lot of time and effort. Invoices arrive in different formats which then have to be manually captured and checked before they are sent for payment authorisation.

The SAP standard system results in valuable time being lost, as the invoices may have In SAP standard, the manual processing of supplier invoices can consume a lot of time and effort. Invoices arrive in different formats which then have to be manually captured and checked before they are sent for payment authorisation.

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How Shared Service Centres Can Benefit From Invoice Reading Technology

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Over the past decade, there has been a significant rise in the number of shared service centres (SSC) being formed. The Accounts Payable Team within these centres are posed with a number of challenges on a daily basis. The use of manual data entry can decrease the efficiency of the SSC and also potentially introduce keying errors that result in inaccurate data being introduced to the ERP/Accounts software.

There are many organisations that are attempting to set up SSC’s with less expensive labour costs. The use of invoice reading technology is becoming increasingly popular, as it is an important method in which SSC’s can improve the accuracy and accelerate the throughput of their invoice data in a cost-effective manner.

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Accounts Payables Team Benefit From an Integrated SAP Solution for Invoice Processing

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With SAP standard, invoice processing is generally labour intensive and has several inherent inefficient practises. Also, the reliance on manual data-entry tasks means that the standard system could be receiving inaccurate, miss-keyed data. FIS/fci is a technology which has been designed specifically to read invoice content automatically and includes validation checks to ensure that all data fields are feasible, complete and in arithmetic agreement.

The FIS/edc (invoice monitor) is a deeply integrated SAP ERP invoice processing solution referencing live SAP data – no modifications are required to SAP standard. The FIS/edc invoice monitor solution is fully integrated into the existing SAP environment using standard SAP GUIs but with additional functionality to assist with quicker postings on invoices.

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FIS/edc Solution Extentions Beyond Invoice Processing

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FIS/edc is an automated Invoice and document processing technology created by FIS. The technology is designed to streamline and to improve the efficiency of the existing SAP standard with regards to invoice processing and deeply integrated into SAP ECC standard. No modifications are necessary to SAP ECC. FIS/edc works within standard SAP GUIs and therefore minimal training is required for employees already familiar with SAP standard.

The FIS/fci component reads the data from incoming invoices, extract the relevant data and then passes the information to FIS/edc. The solution significantly reduces the need for human intervention, ultimately saving businesses time and money with the additional benefit of improving data quality.

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SAP Process Improvements for Invoice Payments with Operational Savings.

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The accounts payable department is a necessity for most enterprises – generally viewed as an operational cost – and therefore needs to be run as economically as possible. In an ideal world, the department would generate a high volume of invoices processed per person with short invoice posting times and have checks and balances to ensure high data quality.

Even with SAP ERP, the process of supplier invoice payment can be expensive, with many tasks requiring a lot of manual effort. Invoice posting is usually time-consuming. Process inefficiencies are often identified by intuition rather than with real supporting evidence.

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