OpenText Vendor Invoice Management

Customer Profile :

  • One of India’s largest oil and gas PSU
  • Location: Mumbai
  • $ 40 billion company
  • Has been ranked 229th in the Fortune Global 500 rankings of the world’s biggest corporations for the year 2013

Challenges & Opportunities:

  • Time-consuming paper process and no digitization of invoices.
  • Lower insight of Vendor Liability and less visibility in tracking status of invoices.
  • Increase in invoice cycle time.

Solution Highlights:

Implemented OpenText Vendor Invoice Management solution:

  • Created workforce efficiencies through an automated and streamlined process.
  • Improved working capital management through better visibility to cash requirements.
  • Cut costs through automated data extraction, process automation and control including shared services.
  • Reduced costly manual errors.
  • Optimized cash discount utilization including dynamic discounting.

Benefits :

  • Enable more accurate financial reporting through complete visibility.
  • Segregated duties through workflow control.
  • Monitor across all steps of the invoice process.
  • Lower invoice cycle time.
  • Provide complete audit trail.