Automated Invoice Booking with SAP – FIS / edc (invoice monitor)
Don’t waste your time and energy. Deeply integrated with SAP, FIS technology automates the posting of invoices and provides efficient tools for exceptions and queries
FIS / edc (electronic document centre) is an SAP certified technology that automates the processing of invoices and other documents such as credit memos, sales orders, customer payment advice notes and vendor statements – requiring minimal human intervention.
FIS / edc reduces manual tasks and eases pressure on the accounts team – taking the administration burden away from businesses. FIS / edc processes integrate with SAP to make financial savings as documents are processed automatically and queries are handled more efficiently than with SAP standard.
The software is installed on the same infrastructure as SAP – with no modifications to SAP standard required. FIS / edc works with the SAP database so information is presented in real-time.
FIS / edc also includes additional functions to make SAP business more efficent – specifically for the accounts team and invoice approvers.
FIS / edc (invoice monitor)
FIS / edc (invoice monitor) is normally paired with the automated data entry application FIS / fci. These two technologies facilitate the posting of a high percentage of invoices in SAP without the involvement of the accounts team – resulting in an unmatched “blind-booking” rate.
The application is further enhanced with the Email reader – which eliminates the need for printing or scanning invoice attachments.
Invoice data for PO-related invoices is compared to the open-PO data and goods receipt data from SAP at item-line/position level. A match – within tolerance – allows invoices to be posted automatically.
FIS / edc supports several workflow functions including FIS Web Dynpro which allows approvers to action the invoice with forwarding and account assignment functions.
Fiori Apps for Invoice Approval may also be completed from mobile devices and desktops via the SAP Fiori app. The solution provides a simplified interface for tablets, smartphones and desktops.
- Wishing to automate the vendor payment process and make savings when booking invoices into SAP
- Requiring a substantial increase in data quality for supplier invoice data
- With a substantial SAP ERP investment – looking to tune the payment processes and make savings
- Reduce the degree of manual keying and data entry within the current payment processes
- Wishing to make digital transformations in their current processes
- Standard SAP ERP module
- Physical movement of financial documents
- Manual keying of data with no validation checks
- Printing emailed invoice attachments
- Using email and attachments as a workflow
- Versions for both SAP ECC 6 (and above) as well as SAP S/4HANA
- Flexible import of invoices via OCR and EDI
- Line Matching (MM) of Invoice data with SAP data – PO and GR
- Automatic Account Assignments
- Workflow Options using SAP proprietary standards Web Dynpro and, optionally, Fiori apps
- Reporting Tools to identify issues and bottlenecks for further process improvements
- Transparency and history audit for each invoice
- Deep SAP ERP integration – worklists for AP users
- Presentation of EDI transactions as a PDF
- Higher productivity of AP team members with more functions in familiar SAP GUI standard – frees up time from repetitive task
- Faster supplier payments – meeting corporate specific service levels
- Invoice image displayed in FIS/edc and workflow modules as well as SAP ERP
- Harnesses the intrinsic power of your SAP ERP – FIS solution works with SAP
- Integrated into SAP but with no need for modifications to SAP ERP standard – quick enhancement pack and upgrade changes
- Data stored once in SAP database – no data exchanges with third-parties
- High blind booking rate – particularly for emailed invoices
- Efficient interrogation tools for exceptions / query management
- High financial return on investment
- AP team directed to more value-added work as FIS/edc automates labour intensive tasks
- Reduction in long invoice processing times
- Transparency and visibility of the entire P2P process