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.
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.
FIS Technology Significantly Reduces Operational Costs within Accounts Payable Departments
July 21, 201800BlogMost 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.
New Q3 2018 Releases for FIS SAP-Integrated Technologies
FIS SAP-Integrated products are technology modules that work with SAP ERP Standard, accelerating and simplifying business processes – additional functions that work with SAP ERP.
The technologies work with SAP ERP standard and functionalities are presented in standard SAP GUIs – including FIori apps.
FIS Introduce new releases for SAP ECC 6 annually in July and SAP S/4 HANA in January.
FIS Warehouse Expertise – SAP Extended Warehouse Management
SAP EWM is a standalone Warehouse Management Application and is part of SAP’s Supply Chain Management suite. The existing SAP WM (Warehouse Management) module will be discontinued in 2025 and completely replaced by SAP EWM. The FIS proposition for warehouse management is a hosted platform based on SAP EWM (Extended Warehouse Management) with further FIS add-on applications – FIS/xee (FIS xml and edi engine) and FIS ewm+ (Extended Warehouse Management template). The key advantages of the FIS solution includes:
- A single partner (SAP Gold Partner) with expertise in SAP application hosting, project management, warehouse management implementations and support
- Expertise in the configuration of the SAP EWM platform
- FIS ewm+ provides a reduction in implementation times through template delivery (i.e. configuration based on a “typical” warehouse – and then minor customisations for individual warehouses)
- Simplified user Experience (UX) – based on SAP Fiori apps
- Fast in memory database – SAP HANA
- Accessible with permissions based access for all users
FIS have a warehouse management consultancy capable of building specific warehouse management infrastructures and are able to “host” the application with FIS ASP. SAP EWM has core warehouse management functionality shared with the current SAP WM supporting all processes in the logistics supply chain. In the SAP EWM solution offers additional flexibility in areas such as:
- Specific Warehouse Structures
- Picking and Packing
- Handling Units
- RF (Radio Frequency)
- Barcode Technology
SAP EWM includes the following functions as standard:
- Activity Areas
- Work Centres
- Resources
The integrated functions and business processes within SAP EWM offer a high level of process and inventory transparency, a precise view of warehouse steps, efficient distribution and storage methodology. The typical return on investment of an EWM implementation typically ranges from 12 to 36 months from the effective date of use. EWM implementations result in qualitative and quantitative benefits such as fewer product handling steps, improved productivity, significant reduction in errors as well as better inventory control and accuracy.
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.
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.
RTP Platform – New Functions and Background Processing with SAP / ERPs
FIS iLog have extended the range of potential application tiles with their ground breaking returnable platform - iRetPlat. In addition, the platform can be updated with RTP bookings from ERP/Accounts software directly (not just SAP ERP) and in the background - this means that the user will be able to identify the quantities of all returnables at different partners.
Access to the platform can be multi-partisan and allow collaborations between customers, suppliers and other satellite location sites. The Fiori app facilitates the user to view:
- RTP stock levels at main and satellite sites
- RTP balances with partners (suppliers and customers) and other sites
- RTP balances with distributors and the subsequent balances with end-users
- Workflow of " queries/contested RTP volumes" with partners
- Reports for booking summaries within a given time frame
- Notifications from Customers (i.e. new deliveries required)
The app has been designed to be used by booking clerks - and replaces the need to check stock levels and transport balances using spreadsheets. The platform can also be opened up to customers and suppliers to agree (or otherwise) on RTP deliveries. The platform provides a centralised open-platform - providing a single view of RTP stock levels, transactions and balances - taking the cost out of more traditional processes.
Accounts Payables Team Benefit From an Integrated SAP Solution for Invoice Processing
April 21, 201800BlogTags: SAP Accounts PayableWith 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.
