Open Text Corporation, a provider of enterprise content management (ECM) software, has announced a new Livelink solution which integrates with PeopleSoft Enterprise Financial Management 8.8 to improve invoice handling and reduce processing costs for customers. The Open Text solution, called Livelink for Accounts Payable, applies Livelink's flexible workflow and document management tools to facilitate the processing and tracking of invoice documentation.
Livelink for Accounts Payable includes flexible workflow to manage invoice routing, document management capabilities, and flexible data capture technology. The solution also provides data entry with document imaging, optical character recognition, and "heads-up" data entry, in which online guides gives users a way to enter invoices. Once an invoice is approved, Livelink for Accounts Payable automatically provides invoice data to users creating invoices in PeopleSoft. With workflows in Livelink for Accounts Payable, invoice processing can be tailored to meet new business demands. Invoices can be prioritized by due date or amount or to take advantage of preferred vendor relationships or vendor discounts. Workflow is also auditable, providing a track record for the processing of all invoices to support corporate governance regulations and corporate accounting practices.