Intelligent Enterprise

Open Text on Monday launched the latest version of its invoice management software for SAP business applications.

Vendor Invoice Management Version 5.1 is used to optimize vendor invoice processes. The product also includes built-in reporting and analytics. New features include an expanded set of pre-configured invoice processing scenarios.

In addition, Open Text, a maker of enterprise content management software, is providing in VIM 5.1 35 best-practice workflows for handling exceptions along with wizards to streamline the process of setting up a baseline configuration. Common exceptions in the invoicing process include missing goods receipts, incorrect pricing and incorrect tax.

Other new capabilities included improved self-service portals for vendors, more reporting flexibility, new document processing workflows and better diagnostic tools to speed up configuration and deployment.

VIM 5.1 routes problem invoices to appropriate individuals for resolution and approval. It also includes approval capabilities for internal users who don't normally use SAP software. The product's open design makes it possible to accept invoices electronically as well as via paper. Purchase orders, goods receipts, invoice transaction screens, invoice images, and transaction notes are all linked in one repository.

VIM Version 5.1 is available now. Pricing was not disclosed.