Open Text Corporation, a provider of Enterprise Content Management (ECM) software, has introduced a new accounts payable application that is designed to help customers optimize vendor invoice processing and integration of its collaboration software with its portfolio of data and document management software for SAP solutions. Open Text has also announced that LVA Rheinprovinz, a German insurance and pension firm, chose Open Text's new Production Document Management solution.
The Accounts Payable application, called Vendor Invoice Management (VIM), is intended to offer a complete, end-to-end solution for optimizing vendor invoice processes in SAP solutions, with built-in reporting and analytics that can be used to continuously improve processes. At the front-end, VIM automates the handling of incoming invoices. Once invoices are routed into SAP solutions, VIM can improve the handling of invoice exceptions by applying more than 20 best-practice workflows for invoice exceptions such as missing goods receipts, incorrect pricing, and incorrect tax. The invoice approval function in VIM provides Web-based coding and approval by users working either inside or outside an SAP solution, and provides tracking and visibility as well as escalations, for timely invoice approvals. A vendor self-service component of VIM allows vendors to submit invoices, or check the status of invoices or purchase orders, online.
Open Text's integration of its collaboration software with its Livelink ECM for SAP solutions brings team workspaces and other collaboration tools together with more structured, process-oriented solutions that store, manage, retrieve, and archive documents from solutions such as mySAP ERP Financials and mySAP ERP Human Capital Management. Those working in Livelink ECM can also access SAP solution-based documents and include this content in project workspaces and other online collaboration. For example, a collaborative workspace to manage projects now shows all documents related to a project, including incoming invoice documents from the SAP solution and corresponding invoice approval process steps. This enables the project leader to then compare spending with budget requirements, and to collaborate with colleagues in the SAP accounts payable application. Open Text is an SAP Software Partner.
Open Text has also announced that LVA Rheinprovinz, a German insurance and pension firm, chose Open Text's new Production Document Management solution, the latest in a series of new Livelink ECM Solutions, to archive and manage a store of paper documents. With the new system, the company's administrators can now access the files within seconds to accelerate processing. Administrators gain one-click access to the electronic file of any business transaction being processed, and a dynamic tree structure offers users an easy-read overview of all subject areas and documents. The browser-based system is designed to make user access fast and easy and the front-end interface was customized in appearance and functionality to more closely fit users' needs. Based on the success of the implementation, follow-up projects are currently in the works. The LVA Rheinprovinz is archiving pension files in the system and the company has started a pilot project to test digital transaction-processing using the system.