It’s important for competitive businesses today to prioritize internal efficiencies and cost savings. Often this is achieved through automation workflows that eliminate repetitive, manual processes.<\/span><\/p>\n There are many aspects of your back-end processes that can be improved with automation, one of the most common places to begin is <\/span>streamlining AP processes<\/span><\/a>.<\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.7.7″ custom_padding=”20px||0px||false|false”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.4.7″][et_pb_text _builder_version=”4.7.7″ header_4_text_color=”#202657″ header_4_font_size=”20px” header_6_text_color=”#202657″ header_6_font_size=”23px” custom_margin=”0px||5px||false|false” custom_padding=”0px||0px||false|false”] With manual workflows and legacy tools, invoices can often take several days to weeks to process. Furthermore, the amount of time spent on these manual processes can dramatically increase the average cost per invoice.<\/span><\/p>\n Additionally, the siloed nature of many of an organization’s financial systems further degrades the efficiency and increases the costs associated with manual workflows.<\/span><\/p>\n Then there’s the lack of visibility and ability to audit paper-based processes and documents. When invoices go missing, there is no way to know where and massive amounts of time can be wasted searching for them.<\/span><\/p>\n To address these challenges and improve efficiency and cost savings, organizations must eliminate manual processes, standardize workflows, and consolidate operations. In today’s post, we’re going to examine how this can be done through end-to-end process payment process automation with OpenText and SAP.<\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.7.7″ custom_padding=”20px||0px||false|false”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.7.7″ header_6_text_color=”#202657″ header_6_font_size=”23px” custom_margin=”0px||5px||false|false” custom_padding=”0px||0px||false|false”] Every AP process includes the following aspects: invoice capture, approval, payment authorization, and execution. As stated previously, manually processing these steps often leads to errors, poor visibility, lost productivity, and cost-inefficiency.<\/span><\/p>\n Through automated, end-to-end processing, an Enterprise Resourcing Platform (ERP) system can digitize invoices\u00a0\u00a0<\/span><\/p>\n Then, through data scraping, line items, amounts, and other important data are captured from the document through <\/span>Optical Character Recognition (OCR)<\/span><\/a> and routed to a central repository for archiving.\u00a0<\/span><\/p>\n Automated workflows will then send approval requests with the digital invoices to approvers. Once approved, the invoice is then automatically transmitted to payment business applications where the payments are processed.<\/span><\/p>\n Furthermore, by leveraging an Enterprise Content Management (ECM) system integration, automation can send the payment, invoice copies, receipts, and payment records to the appropriate people and systems.<\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.7.7″ custom_padding=”20px||0px||false|false”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.7.7″ header_6_text_color=”#202657″ header_6_font_size=”23px” custom_margin=”0px||5px||false|false” custom_padding=”0px||0px||false|false”] OpenText is an Enterprise Information Management (EIM) solution which helps organizations to drive sustainable growth and productivity. SAP, or System Applications and Products, is an ERP data processing tool that helps companies of all sizes to design automated solutions that optimize workflows.\u00a0<\/span><\/p>\n Together, OpenText and SAP provide a Vendor Invoice Management (VIM) solution that offers workflow functionality that enables users to create an automation that manages, process, and routes invoices for approval.<\/span><\/p>\n The SAP solution leverages OCR and robotic process automation (RPA) to increase invoice throughput and completely automate the capture of paper invoices. That and its ability to extract invoice data virtually eliminates the need for human intervention in AP processing.\u00a0<\/span><\/p>\n It also allows additional validation functionality that allows our users to easily capture and classify invoices without requiring them to hand-key items that don’t get picked up by OCR functionality.\u00a0<\/span><\/p>\n Finally, invoices are routed to the OpenText Extended ECM, thus eliminating the need for a paper filing system and providing an easy-to-access audit trail for the entire invoice lifecycle.<\/span><\/p>\n Benefits include:<\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner column_structure=”1_2,1_2″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_column_inner type=”1_2″ saved_specialty_column_type=”3_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_blurb title=”Reduction in time spent on manual data capture tasks” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/02\/Asset-1.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”1.9em” header_line_height_tablet=”3.7em” header_line_height_phone=”1.9em” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][et_pb_blurb title=”Metadata search to make finding AP data quick and easy” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/02\/Number-2-bullet-point-for-blog.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”1.9em” header_line_height_tablet=”3.7em” header_line_height_phone=”1.9em” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][et_pb_blurb title=”Elimination of the cost of using paper invoices” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/02\/Asset-3.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”3.6em” header_line_height_tablet=”3.7em” header_line_height_phone=”1.9em” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][et_pb_blurb title=”Faster approvals and improved tracking” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/02\/Asset-4-1.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”3.6em” header_line_height_tablet=”3.7em” header_line_height_phone=”1.9em” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][et_pb_blurb title=”Reduced environmental footprint” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/02\/Asset-5.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”3.6em” header_line_height_tablet=”3.7em” header_line_height_phone=”” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][\/et_pb_column_inner][et_pb_column_inner type=”1_2″ saved_specialty_column_type=”3_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_blurb title=”A digital audit trail for auditing purposes and enhanced security” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/02\/Asset-6.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”1.9em” header_line_height_tablet=”1.9em” header_line_height_phone=”” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][et_pb_blurb title=”Ability to remotely process invoice approvals” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/02\/Asset-7.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”3.6em” header_line_height_tablet=”3.7em” header_line_height_phone=”1.9em” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][et_pb_blurb title=”Improved vendor relations through faster processing and vendor portals to view status updates” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/03\/Bullet-8.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”1.4em” header_line_height_tablet=”1.9em” header_line_height_phone=”1.7em” header_line_height_last_edited=”on|phone”][\/et_pb_blurb][et_pb_blurb title=”Provision of end-of-month reporting and accruals” image=”https:\/\/wave-tsg.com\/wp-content\/uploads\/2021\/03\/Bullet-9.png” icon_placement=”left” image_max_width=”50px” image_max_width_tablet=”” image_max_width_phone=”45px” image_max_width_last_edited=”on|tablet” _builder_version=”4.7.7″ _module_preset=”default” header_text_color=”#202657″ header_font_size=”16px” header_line_height=”3.6em” header_line_height_tablet=”3.7em” header_line_height_phone=”1.9em” header_line_height_last_edited=”on|desktop”][\/et_pb_blurb][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.4.8″ custom_padding=”0px||0px||false|false”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.4.7″][et_pb_text _builder_version=”4.7.7″ header_6_text_color=”#202657″ header_6_font_size=”23px” custom_margin=”0px||5px||false|false” custom_padding=”20px||0px||false|false”] The benefits of automating your AP processes are undeniable. But implementing massive change within an organization is another topic altogether.\u00a0<\/span><\/p>\n We understand this challenge. That’s why we will work with you, as an implementation partner, to determine your goals and objectives for digital transformation, <\/span>back-office modernization<\/span><\/a>, and holistic growth.<\/span><\/p>\n With a framework for change in place, we can customize your VIM solution to fit your AP process and map it out step-by-step, optimizing operations as we go for time and cost-savings.\u00a0<\/span><\/p>\n Providing greater transparency into your payment processes helps to identify bottlenecks and places where new features can be added to improve business processes.<\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.7.7″ custom_padding=”20px||0px||false|false”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.4.7″][et_pb_text _builder_version=”4.7.7″ header_4_text_color=”#202657″ header_4_font_size=”20px” header_6_text_color=”#202657″ header_6_font_size=”23px” custom_margin=”0px||5px||false|false” custom_padding=”0px||0px||false|false”] Manual AP processes can delay your business down and limit your ability to quickly respond to vendors. This increases payment cycles, leads to higher invoice processing costs, reduces your control in the business, and can ultimately strain your vendor relationships.<\/span><\/p>\n While OpenText Solutions for SAP helps to eliminate these challenges, it can also be the springboard toward greater digital transformation and process modernization for your organization.\u00a0<\/span><\/p>\n We know this very well, which is why we’ve adapted our solutions to support your entire business. From <\/span>AP automation<\/span><\/a>, to contract management, compliance solutions, global search, and more. We want to help you modernize, streamline, and automate your business processes.\u00a0<\/span><\/p>\n We can work with SAP, Netsuite, Microsoft Dynamics, Oracle, as well as ECM systems like OpenText, M-Files<\/a>, and SharePoint. We can also help implement both on-premises or cloud-based solutions to suit your needs and budget.<\/span><\/p>\n If you’d like to learn more about how Wave can help support digital transformation and accounts payable automation in your business, reach out today by clicking here<\/a> to set up a time to chat.<\/span><\/p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.4.7″][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.4.7″][et_pb_signup provider=”campaign_monitor” campaign_monitor_list=”CM Wave|cd232db3a92a7fe26cf3523059f4d97f” last_name_fullwidth=”off” use_custom_fields=”on” success_message=”We have received your request and one of our experienced consultants will reach out to you shortly.” title=”Request A FREE Consultation” button_text=”Submit” description=” Not sure what your options are when it comes to Payment Processing Automation?<\/p>\n Here at Wave we have over 20 years of experience in working with growing businesses everyday, helping them by automating processes, streamlining workflows, and making dynamic adjustments that help them break away from antiquated workflows to increase efficiency and productivity. 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Have a general question?<\/p>\n We are just an email away.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.0.3″][et_pb_column type=”4_4″ _builder_version=”4.0.3″][et_pb_contact_form captcha=”off” email=”info@wave-tsg.com” custom_message=”End-To-End Payment Processing Automation With OpenText and SAP blog||et_pb_line_break_holder||——————————-||et_pb_line_break_holder||Sender Name is: %%Name%%||et_pb_line_break_holder||Sender Phone is: %%Phone%%||et_pb_line_break_holder||Sender Company is: %%Company%%||et_pb_line_break_holder||Sender Email Address is: %%Email%%||et_pb_line_break_holder||Sender Message is: %%message%%” success_message=”We have received your message and will be in touch shortly.” _builder_version=”4.7.7″ custom_button=”on” button_text_color=”#ffffff” button_bg_color=”#FEBB12″ button_border_width=”0px” button_border_radius=”34px” button_use_icon=”off” button_custom_margin=”1px||||false|false” button_custom_margin_tablet=”” 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custom_padding_tablet=”30px||22px||false|false” custom_padding_phone=””][et_pb_column type=”4_4″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.0.3″ background_layout=”dark” custom_margin=”0px||0px||false|false” custom_margin_tablet=”” custom_margin_phone=”” custom_margin_last_edited=”on|desktop” custom_padding_tablet=”0px||0px||false|false” custom_padding_phone=”” custom_padding_last_edited=”on|tablet” text_font_size_tablet=”13px” text_font_size_phone=”11px” text_font_size_last_edited=”on|desktop”]\u00a9 All Rights Reserved: 2019 Wave Technology Solutions Group[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n<\/span>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":9320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nThe Challenges of Manual AP Processes<\/h4>[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”16px”]
What is End-to-End Payment Process Automation?<\/h6>[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”16px”]
How OpenText with SAP Automates End-to-End Payment Process Automation<\/h6>[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”16px”]
How Wave Can Help Implement Change in Your Organization<\/h6>[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”16px”]
The Path Toward Continual Improvement<\/h4>[\/et_pb_text][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”16px”]
Recent Articles<\/h5>\n” content_phone=”\n
Recent Articles<\/h6>\n” content_last_edited=”on|phone” _builder_version=”4.0.3″ text_font=”||||||||” text_line_height=”1.8em” header_font=”||||||||” header_2_font=”Work Sans|700|||||||” header_2_font_size=”35px” header_2_line_height=”1.5em” header_4_text_color=”#202657″ header_5_text_color=”#202657″ header_6_text_color=”#202657″ header_2_font_size_tablet=”30px” header_2_font_size_phone=”20px” header_2_font_size_last_edited=”on|phone” border_color_all=”#1a0a38″ border_width_bottom=”4px” border_color_bottom=”#202657″]
Recent Articles<\/h4>[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.25″ custom_padding=”20px|||” custom_padding_tablet=”0px||” custom_padding_phone=”” custom_padding_last_edited=”on|tablet” padding_tablet=”0px||” padding_last_edited=”on|tablet” custom_padding__hover=”|||”][\/et_pb_column][\/et_pb_row][et_pb_row use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” _builder_version=”3.25″ max_width=”1280px” use_custom_width=”on” custom_width_px=”1280px”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_blog fullwidth=”off” posts_number=”3″ include_categories=”65″ show_more=”on” show_categories=”off” show_pagination=”off” offset_number=”1″ _builder_version=”4.0.3″ header_level=”h6″ header_font=”Arial|700|||||||” header_text_color=”#202657″ header_font_size=”23px” header_line_height=”1.2em” body_font=”||||||||” body_text_align=”left” body_font_size=”16px” meta_font=”Arial||||||||” meta_text_color=”#864d6e” meta_line_height=”2em” read_more_line_height=”3em” pagination_font=”||||||||” pagination_font_size=”0px” pagination_line_height=”0em” border_radii=”off|||5px|5px” border_width_all=”0px” border_color_all=”#ffffff” border_width_bottom=”6px” border_color_bottom=”#202657″ border_width_all_fullwidth=”1px” box_shadow_style=”preset3″ locked=”off” body_letter_spacing__hover=”0px” body_letter_spacing__hover_enabled=”0px” body_text_shadow_style__hover=”none” body_text_shadow_style__hover_enabled=”none” body_text_shadow_color__hover=”rgba(0,0,0,0.4)” body_text_shadow_color__hover_enabled=”rgba(0,0,0,0.4)” border_radii__hover=”on||||” border_radii__hover_enabled=”on||||” border_radii_fullwidth__hover=”on||||” border_radii_fullwidth__hover_enabled=”on||||”][\/et_pb_blog][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.0.3″ background_color=”#202657″ min_height=”725px”][et_pb_row _builder_version=”4.0.3″ custom_padding=”||0px|||”][et_pb_column type=”4_4″ _builder_version=”4.0.3″][et_pb_text content_tablet=”” content_phone=”” content_last_edited=”on|phone” _builder_version=”4.0.3″ text_text_color=”#ffffff” header_4_font=”Arial||||||||” header_4_text_color=”#202657″ background_layout=”dark” min_height=”67px” custom_margin=”0px||5px|||” custom_padding=”||0px|||” text_text_color_tablet=”” text_text_color_phone=”#ffffff” text_text_color_last_edited=”on|phone” text_line_height_tablet=”1.7em” text_line_height_phone=”1.6em” text_line_height_last_edited=”on|desktop” header_font_size_tablet=”72px” header_font_size_phone=”” header_font_size_last_edited=”on|tablet” header_line_height_tablet=”” header_line_height_phone=”1em” header_line_height_last_edited=”on|phone”]
LETS CONNECT AND SEE<\/span><\/h4>\n
HOW WE CAN HELP<\/span><\/h4>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.0.3″ custom_padding=”4px|||||”][et_pb_column type=”4_4″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.0.3″ text_font_size=”16px” text_line_height=”0.5em” background_layout=”dark” min_height=”34px” custom_margin_tablet=”” custom_margin_phone=”||-28px||false|false” custom_margin_last_edited=”on|phone” text_line_height_tablet=”0.7em” text_line_height_phone=”1.6em” text_line_height_last_edited=”on|phone”]
\ninfo@wave-tsg.com
\n23441 S. Pointe Drive
\nSuite #110, Laguna Hills
\nCA 92653″ content_phone=”+1 (949) 453-9283
\ninfo@wave-tsg.com
\n23441 S. Pointe Drive
\nSuite #110, Laguna Hills
\nCA 92653″ content_last_edited=”on|tablet” _builder_version=”4.0.3″ text_font=”Arial|300|||||||” text_text_color=”#202657″ text_line_height=”1.8em” transform_scale_tablet=”” transform_scale_phone=”” transform_scale_last_edited=”on|phone” transform_translate_tablet=”” transform_translate_phone=”40px|-30px” transform_translate_last_edited=”on|phone” transform_translate_linked_phone=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|tablet” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|tablet” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|tablet” transform_styles_last_edited=”on|phone” custom_margin=”15px||||false|false” custom_margin_tablet=”|||120px|false|false” custom_margin_phone=”|||0px|false|false” custom_margin_last_edited=”on|phone” transform_styles_tablet=”” transform_styles_phone=””]
info@wave-tsg.com
23441 S. Pointe Drive
Suite #110, Laguna Hills
CA 92653<\/p>[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.0.3″][et_pb_text _builder_version=”4.0.3″ text_font=”|600|||||||” text_text_color=”#202657″ text_font_size=”16px” transform_scale_tablet=”” transform_scale_phone=”” transform_scale_last_edited=”on|tablet” transform_translate_tablet=”” transform_translate_phone=”263px|-227px” transform_translate_last_edited=”on|phone” transform_translate_linked_phone=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|tablet” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|tablet” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|tablet” transform_styles_last_edited=”on|phone” custom_margin_tablet=”|||-50px|false|false” custom_margin_phone=”|||0px|false|false” custom_margin_last_edited=”on|phone” transform_styles_tablet=”” transform_styles_phone=””]
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\nOpen Support Case<\/a><\/span>” content_phone=”Contact Us<\/a><\/span>
\nSupport Offering<\/a><\/span>
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