OpenText Vendor Invoice Management Implementation

Customer Profile:

• Founded in 1916, listed among the leading FMCGs of the world.
• Location: US, Bangalore.
• With over $3.86 Billion net revenue, stands as one of the leaders in the US retail market.

Challenges & Opportunities:

• Poor Vendor relations and market credibility.
• Missing Discount opportunities.
• Difficulty preparing accruals.
• Excessive invoice processing cost.

Solution Highlights:

• Streamline Accounts Payable operations.
• Simplify and automate invoice processing.
• Implemented standardized process with invoice exception blocking and workflow.
• Improved visibility of invoice statuses and improved invoice processing efficiency.

Benefits:

• Reduced invoice processing cost and invoice processing time.
• Better visibility and traceability of invoices through advance workflow capabilities.
• Significant drop in the percentage of overdue invoices.
• Better vendor discounts and higher credit ratings-improved vendor negotiations.