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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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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The Caravan and Motorhome Club accelerate automation levels with Document Options Capture Services and FIS / edc

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The Caravan and Motorhome Club improve automated vendor payables

Document Options services extended to provide invoice reading as a service. FIS Invoice Monitor software provides automatic three-way matches for invoice postings and approvals workflow.

The Caravan Club and Motorhome Group have been established for more than a century and offer services and support to their members within the camping and motorhome community. The club boasts more than 200 active sites within the UK.
Within their payables department, the Caravan and Motorhome Club did have issues with late payments to suppliers.
Increased document automation levels and invoice visibility were essential when processing at both their head office, in East Grinstead, and also at site level which are managed by wardens.
The Caravan and Motorhome Club were approached by Document Options, an established FIS partner and document capture specialist, who suggested an enhanced invoice scanning service.
Using FIS / fci – invoice data collection software, Document Options would not only scan the invoice but also provide the data-file with the key invoice content.
Jon Laws, Financial Controller of The Caravan and Motorhome  Club stated, ‘removing the scanning and keying parts of the process and moving them to Document Options, who are equipped with the technology and scanning hardware, proved the best business fit for us. In addition, because FIS are one of SAP’s leading global partners, their SAP expertise mitigated any risk with configuration and SAP integration’.
Liz Parish, Head of Accounts Payable added ‘We have already seen a marked increase in automatic booking rates and the reporting functions with FIS / edc ensure we have visibility of outstanding invoices – so we can avoid late payments. The reception of the new system within the business has been excellent’.