The Toolsets Available With FIS/edc

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FIS/edc is designed to improve the efficiency of invoice and statement processing for organisations that run SAP ECC or SAP S/4HANA. The plugin is seamlessly integrated into the existing SAP environment, and significantly reduces the need for manual data-entry and human intervention meaning that invoices are posted more economically than with SAP standard.

FIS/edc comes with a range of benefits through its automation of supplier invoice processing, such as saving businesses valuable time and money, as well as increasing the quality of data that is being transferred into SAP. The software works alongside FIS/fci to check and validate invoice data prior to a “posting attempt” in SAP.

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How FIS Technologies Complement SAP Processes

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FIS offer a number of technologies which are fully integrated into SAP standard and offer additional functions to improve existing business processes. Over 100 SAP add-on technologies have been developed by FIS, and each one is designed to integrate seamlessly with SAP ERP (SAP ECC6 or SAP S/4HANA).

The technologies include SAP integrate add-ons for Internet Shopping Solutions, Simplified Master Data Maintenance and Document Processing. A major benefit of the technologies is that no modifications to SAP standard are required, and they are intended to enhance and complement the processes already existing within SAP.

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The Processes Behind FIS/edc

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The FIS/edc system comprises technologies that are used to automate, and efficiently process documents such as invoices, vendor statements, sales orders and payment advice notes with minimal human intervention. The software can save an enterprise time and money, as it reduces the need for manual data-entry, and provides accurate and reliable data transfer to SAP standard.

FIS/edc is designed to securely and reliably deal with processing scanned documents, emailed attachments and EDI invoices, and it is deeply integrated with SAP ERP. The technology plugins are designed to make SAP processes more effective and economical.

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New Releases 2019: FIS Integrated Products for SAP ECC 6

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New Releases 2019: Integrated Products for SAP ECC 6

FIS Integrated Products for SAP ECC 6 and above are released annually in July.


New Releases of the FIS SAP ECC 6 modules include:

  • FIS / edc – Electronic Document Centre: An SAP “add-on” technology to accelerate data matching and the posting of invoices, sales orders, payment advice notes and supplier statements into SAP ECC 6
  • FIS / mpm – Master Data and Price Management. An SAP “add-on” technology for simplified maintenance of SAP Master Data with integrated validation checks and workflow solution – allowing data to be exchanged with SAP ECC 6.
  • FIS / xee – XML and EDI Engine: A business system integration that provides connectivity for information exchange between SAP ECC 6 and other ERP Business Systems.


FIS develop a complete suite of SAP Integrated products to provide business process improvements for organisations with SAP S/4HANA or SAP ECC 6. The FIS modules for SAP S/4HANA are released annually in January

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How Can Technology Be Utilised to Read Supplier Invoices and Other Finance Documents

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In any business process within an organisation, there is always a drive to make procedures more efficient, more effective, reduce operational costs and improve outcomes. The same drivers can be applied to the task of manual keying and data-entry tasks, when processing supplier invoices into an organisation’s Financial / ERP software.

Previously, an administrator would manually key-in the relevant information from a physical paper invoice into an ERP or Financials software. This task can be quite labour-intensive and likely to incur human errors.

Some larger invoices with many pages and several invoice lines can be very time consuming to administrate.

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Invoice Reading FAQs: Part 2

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Q: We receive an increasing number of invoices via email as attachments, do we have to print these and then scan – it sounds like a lot of work?

No, FIS/fci can take the attachments and process them without the need for scanning. This is an ideal solution because invoice data can be extracted without any human intervention.  In addition, the invoices are normally created directly from an ERP system and this makes the reading of the invoice data easier as fidelity and accuracy is not lost through the scanning process.

Q: What about recognition rates, how many invoices need manual corrections?

There can be a large variance in recognition rates and this is largely down to factors such as whether header (i.e. supplier, PO number, invoice number, total net etc) or lines (description, unit cost, number of units, net cost of line etc) are required. Typically rates of 90% + are common. The knowledge database always improves the recognition rates from the initial free-form recognition methods. FIS/fci uses a form of machine learning – becoming more accurate at reading data as the number of invoices increases.

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Invoice Reading FAQs: Part 1

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Q: The data on the supplier invoices is different for every supplier?

FIS/fci is designed to search for the required invoice data for every supplier – irrespective of the layout. The “Freeform Recognition” software works for of different invoice layouts for each supplier.

Q: How does the software know that the document is an invoice?

One of the first checks the software performs is to identify if the word invoice (or a translation of the word invoice – facture, fattura, faktura, rechnung etc) is present. The system is also able to recognise different company codes by a look-up of a reference file from the ERP system.

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Simplifying and streamlining Invoice Processing with SAP ERP

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The FIS/edc plugin is an add-on technology to SAP standard that is engineered to streamline the processing of supplier invoices, ensuring that invoice data is more accurately read whilst simultaneously reducing the overall cost of the business process.

The FIS/edc solution provides intelligent processing from start to finish, significantly diminishing the degree of human intervention – taking the cost out of the process.

For MM invoices with agreement with the SAP data no manual checking is necessary and the invoice could be posted automatically. The system also flags any deviations between the vendor invoice data and the SAP invoice data (PO and Goods Receipt) including variations of price, quantity and deliveries.

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FIS/TradeFlex: New Platform for Automated Marketplace Trading

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FIS / TradeFlex: New Platform for Automated Marketplace Trading

FIS Information Systems have launched a new platform specifically for organisations with SAP ERP who use commercial marketplaces to retail their goods.

The platform brings together SAP ERP, the marketplace platform and other applications such as PIMs (Product Information Management Systems) to provide a centralised cloud platform for managing high frequency transactions across a broad range of products.

At present, the platform is aligned with the attributes for Amazon, eBay and Unite – with further platforms access via SAP ERP planned in 2020. FIS / TradeFlex automates the management of the data exchanges from the marketplace into SAP including:

  • Delivery notes
  • Quantity availability
  • Pricing and conditions
  • Payments
  • Cancellations and returns

 

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New Releases 2019: FIS NextGeneration S/4HANA

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New Releases 2019: FIS NextGeneration S/4HANA

FIS Integrated Products for SAP S/4HANA are released annually in January. New Releases of the FIS NextGeneration modules include:

  • FIS/edc – Electronic Document Centre: An SAP “add-on” technology to accelerate data matching and the posting of invoices, sales orders, payment advice notes and supplier statements etc into SAP S/4HANA.
  • FIS/mpm – Master Data and Price Management. An SAP “add-on” technology for simplified maintenance of SAP Master Data with integrated validation checks and workflow solution – allowing data to be exchanged with SAP S/4HANA.
  • FIS/xee – XML and EDI Engine: A business system integration that provides connectivity for information exchange between SAP S/4HANA and other ERP Business Systems.

FIS develop a complete suite of SAP Integrated products to provide business process improvements for organisations with SAP S/4HANA or SAP ECC. The FIS modules for SAP ECC are released annually in June.

 

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