Working From Home: COVID-19 restrictions require many employees to work from home where possible. The constraints to normal working practices are not without challenges. FIS create technologies that ensure that invoices are processed with minimal human intervention with Accounts Payable teams are operational.

Electronic Invoices: To assist with remote working, vendors are requested not to send physical paper invoices but instead to emailed invoices or via EDI to reduce the need for scanning.

Automatic Invoice Postings: Electronic invoices are either posted into SAP when they meet defined criteria or parked in the FIS workflow component where advanced functions allow invoices to be further examined. Here, all key data is presented in one place.

Invoices Assigned to Different Company Codes: FIS technologies are able to classify the incoming document by type (i.e. invoice, credit note etc), company code, vendor, PO or PO exempt. Checks and balances applied to ensure that the invoice data is validated and feasible prior to export.

Exchange Rate Reading: The FIS system is able to extract the exchange rate data or to calculate the value prior to transfer to SAP.

Machine Learning: From day-one the key invoice data is read. The OCR reading capability of the system improves with experience as the remembers the areas where the required data is most likely to be.

Improved Data Quality: Feasibility checks are made on each document with comparisons of data in SAP tables. In addition arithmetic agreements are made with non-plausible data being passed to the AP team for completion.

Rapid Adoption: As with all FIS add-on technologies the user works with FIS proprietary technologies that run in SAP standards such as SAP GUI, Web Dynpro or Fiori apps. Using a familiar framework, the technology is easy to adopt for employees already used to SAP standards or wishing to complete tasks in a simpler manner.

Deep integration with SAP: FIS add-on technologies harness the intrinsic power and logic of SAP. No modifications to SAP is necessary and information is presented in real-time – i.e. no time delays from file exchanges. This model works further with SAP upgrades and enhancement packs being easier to support.

Digital transformation: With the processing model – paper invoices are effectively eliminated from the process after capture – with more organisations trending towards electronic invoices via email or EDI.

 

Invoice Processing from home - coronavirus

Many FIS 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 completion, if required, can be actioned remotely. FIS / edc is also able to accommodate electronic invoices (EDI) and checks their credentials before posting. Adopting and electronic method of invoice recognition means that organisations are not unduly hindered by the Accounts Payable team working from home.

 

Digital Transformation of Invoice Processing enables remote working for Accounts Payable Teams