OpenText Vendor Invoice Management for SAP Solutions (OpenText VIM) is one of the leading solutions when it comes to managing and processing invoices. It is compatible with both SAP S/4HANA and previous SAP ERP systems. SAP adopted the software into its portfolio a few years ago under the name “SAP Invoice Management by OpenText.” As an integral part of SAP, the invoice processing add-on provides preconfigured rules, roles and actions. As a result, OpenText VIM enables full automation of invoice receipt and posting. Companies optimize their accounts payable processes while meeting internal and external compliance requirements. OpenText VIM can be used with or without an OCR system for text recognition. With the help of OCR, the data of an invoice is read and made available for further processing in OpenText VIM. Of course, it is also possible to process an invoice via EDI or e-mail with or without a purchase order reference. Based on the invoice status, companies can see the current processing status of their invoices at any time. An invoice passes through several business rules that are already included in the OpenText VIM standard, as well as company-defined rules. Selected users can then process the invoice and forward it in the workflow or, if necessary, direct queries to the previous processor. Editing and approval of invoices in the workflow are based on permissions and user roles. After successful release, the posting can be done manually or automatically, so that the supplier receives his money on time. If something is incorrect with an invoice, subsequent release of the posted invoice is also possible at any time. Since the entire invoice history can be viewed, every step of the process can be tracked and logged with OpenText VIM – from entry to invoice receipt to payment. With OpenText VIM, companies automate and accelerate their document-related processes while increasing productivity and revenues. Defined rules and roles ensure adherence to applicable compliance rules, preventing fraud when it comes time to make payments.Optimize your processes with SAP S/4HANA
Preconfigured rules, roles and actions
Workflows for processing
The entire process is traceable
FAQs
How to approve an invoice in SAP VIM? ›
Expense type can be created by going to /n/opt/spro and then to LiveLink VIM - Configuration > Non PO Processing > Invoice Approval Process > Setup Approval Chain > Expense Types > Maintain Expense Types. Create the expense type, provide description and indicate if approval is required for the expense type.
What is OpenText VIM in SAP? ›SUMMARY. OpenText™ Vendor Invoice Management for SAP® Solutions (VIM) streamlines accounts payable (AP) operations for SAP customers. VIM optimizes and simplifies the process of receiving, managing, monitoring, and routing invoices and related documentation on all levels. BENEFITS. • Accelerate invoice processing ...
What is the process of invoice processing in SAP? ›You receive an invoice, only enter the total amount of the invoice, and match the invoice up with another system document. The system then checks the invoice in the background. If no errors occur, the system also posts the invoice in the background.
What is VIM used for in SAP? ›What is Vendor Invoice Management (VIM) VIM is an Opentext product which is embedded in the SAP ERP system. It optimises and simplifies the process of receiving, validating, managing, routing and monitoring of vendor invoices and facilitates easy collaboration with stakeholders within the Procure to Pay process.
Who approves invoices in SAP? ›The invoice will go from the employee to their manager. If their manager does not have a sufficient approval limit, then the manager will be prompted to select an additional approver from a list of users who have a sufficient approval limit.
What are the benefits of VIM in SAP? ›- Accelerate operations. ...
- Boost productivity and revenue. ...
- Ensure compliance. ...
- Get fast results. ...
- Constantly optimize workflows.
The OpenText Suite for SAP provides solutions that help manage and deliver information to SAP applications, dynamically, in context and on any device. Connect enterprise content with enterprise applications in a content management platform that integrates seamlessly into SAP business applications.
What is a VIM invoice? ›SAP Invoice Management by OpenText (VIM) is a comprehensive solution that automates the flow of purchase invoices.
What is the three way invoice process? ›In accounting, one of the most common types of invoice matching is called the 3-way match. Three-way match is the process of comparing the purchase order, invoice, and goods receipt to make sure they match, prior to approving the invoice.
What are the three main steps involved in invoice processing? ›Steps include verification, recording, approval, and payment, with benefits of automation. Invoice processing software automates invoice lifecycle operations. Automation saves time, reduces errors, and provides real-time visibility into cash flow.
What is Vim mainly used for? ›
What is Vim? Vim is a text editor for Unix that comes with Linux, BSD, and macOS. It is known to be fast and powerful, partly because it is a small program that can run in a terminal (although it has a graphical interface). It is mainly because it can be managed entirely without menus or a mouse with a keyboard.
Why is Vim so important? ›Vim is the only editor that optimizes editing text instead of writing from a blank page. That's another reason Vim makes you so efficient: you have different modes for each phase of your current work or task. Normal mode is for reading code and navigating quickly.
How do I approve a payment in SAP? ›- Go to step Define Payment Approver Groups.
- Create entry for 3 payment approver group (G001, G002, G003).
- Now, go to step Define Approval Pattern.
The invoice item contains a reference document. This validation check checks that the total of the aggregated quantities in the invoice items is not greater than the quantity from the referenced purchasing document item. Data in the referenced replenishment order item matches header data.
How do I approve a document in SAP? ›- An author creates a document; the document status is set to New.
- The author edits the document; the document status is set to Held.
- The author releases the document to submit it to a manager for approval; the document status is set to In approval.
To be able to approve or reject requests, you have to choose an approval step in the entire view. The relevant view for this step is then generated in the QA worklist. You can set the QA worklist so that you only see those requests whose approval step you are responsible for (see QA Worklist: Settings).