In finance and accounting, countless invoice documents are daily received via different channels – PDF, EDI, XRechnung, ZUGFeRD, Factur-X or FatturaPA. This results in high efforts, long processing times, lack of transparency and errors in account assignment and update of invoices. With FIS, manual invoice processing belongs to the past: automated processes, transparent release workflows and smart machine learning applications will take your invoice receipt to the next level.
These customers are already convinced of our expertise in the area of FIS/edc:
RECEIVING and PROCESSING INCOMING INVOICES IN A COMPLETELY DIGITAL MANNER
By using the FIS/edc Invoice Receipt Monitor, the FIS/eInvoicing and FIS/fci SAP optimizations as well as the SAP DRC solution, incoming invoice documents can be processed in a consistent procure-to-pay process – digitally, in a completely automated way and in accordance with country-specific requirements. Regardless of the channel via which the document is received, a master data matchup is carried out in an automated manner as well as an initial invoice verification, including factual check. If the incoming invoice can be assigned to a specific purchase order, a background posting will directly be made, where no-touch quotas of up to 90 percent can be achieved. This significantly reduces processing times, reduces the workloads of financial accounting employees and prevents manual input errors.
If postprocessing or a release is required, this can be controlled by smart workflows. The use of artificial intelligence in the form of machine learning applications for the automated assignment of incoming invoices provides additional saving potentials. With FIS/edc, FIS/fci and FIS/eInvoicing, you will create consistent digital invoice receipt processes.
Your benefits by using FIS/edc in invoice receipt
- Time saving and reduction of error rate through high degree of automation
- Improved liquidity management through maximal cash discount exploitation
- Invoice processing for different channels and formats – including international formats such as XRechnung, ZUGFeRD, Factur-X, FatturaPA and many more
- Fulfillment of most country-specific requirements
- Deep integration of incoming invoice processing in SAP and high compatibility with other system components
- Location-independent approvals through mobile releases
- Structured history for faster analysis and complete traceability of current invoice processing statuses
- Availability for many countries and languages
- Automatic matching with open customer or vendor items when receiving payment advice notes
Optimized SAP invoice processing IN FINANCE AND ACCOUNTING
Incoming invoice processing in FIS/edc is seamlessly integrated in the overall purchase-to-pay process, which enables a step-wise increase of the invoice processing automation degree in SAP. In Financial Accounting, invoices are received as PDF documents, in paper form or as electronic invoices.
Automatic processing of incoming invoices in paper form or as PDF documents is carried out by means of OCR document recognition with excellent recognition rates being achieved. Moreover, the software supports electronic documents and invoices, such as EDI, ZUGFeRD or XRechnung. Once the documents have been imported, they will automatically be assigned to the existing data records in the SAP system.
Our FIS software provides automatic matching of incoming invoices with the respective purchase orders, which results in highest efficiency. If there is no match between the two documents, our software will enable easy subsequent invoice verification or the use of a workflow for complementing missing information. By means of internal document assignments, item matchings and data enrichments, invoices can directly be updated in SAP. Optionally, electronic invoices can be saved as visualized PDF documents in an audit-proof way.
The connected approval procedure rounds off the options of automated invoice verification. This workflow enables a completely paperless release, ensures a respective throughput of the invoice and increases transparency for the management. Once the release workflow has run through, the invoice can be further processed in an accounting-related way (posting, account assignment and payment).
Useful: mobile invoice release via app
An SAP Fiori-based mobile app can be used to carry out approval requests in FIS/edc in connection with vendor documents in SAP – i.e. processes such as verification, approval, rejection, commenting, forwarding and account assignment of incoming invoices – anytime, anywhere, without long wait times and irrespective of what invoice type (FI invoice without purchase order reference, MM invoice with purchase order reference) is concerned.
Artificial intelligence in Financial Accounting – INTELLIGENT PROCESSING OF DOCUMENTS
Automated invoice processing involves work steps that continuously have to be carried out manually. Invoices in the worklist of an accounting clerk have to, among other things, be viewed, assigned to a specific account and forwarded to the appropriate approver for release. These processes can be automated by means of machine learning applications.
The use of artificial intelligence (AI) will bring a change to your FI processes. In the area of finance and accounting, FIS has developed an efficient user case by applying machine learning. This technology provides major benefits, particularly if processes are to be automated for which no generally accepted rules exist – i.e. if classic Customizing is not sufficient.
The intelligent account assignment and approver determination by FIS uses this technology to independently classify FI invoices and establishes an automatic account assignment system. Subsequently, it finds the responsible approver by means of AI and automatically sends the invoices to them for release.
By using this smart solution for invoice receipt processing, your employees are relieved for instance, manual processing errors prevented and invoice receipt processes become more transparent.
E-Invoicing with SAP DIGITAL PROCESSING OF INCOMING INVOICES
E-invoicing in Financial Accounting provides enormous opportunities for automated invoice processes and for increasing their transparency. Accelerate the processing times of your invoices, make processing statuses more transparent and achieve fully automated SAP invoice processes complying with statutory requirements.
FIS/eInvoicing can be used to process incoming invoices in a fully digitized procure-to-pay process: from the receipt of digital invoice formats and entry of incoming invoices to their final posting. Vendor invoice data, for instance, is automatically compared with the associated purchase requisition in the SAP system. If all details on invoice and purchase order are identical, these invoices will be posted and paid automatically – without manual interference by the accounting clerks. Here, SAP users can achieve “no touch” quotas of over 90 percent.
Often, just the automated matching of partial information can help accelerate the process. Important invoice characteristics, for instance, are read, invoices verified formally and arithmetically or compared with SAP master data. Even a simple release workflow enabling an automatic assignment of the invoice to the releasing person might considerably facilitate daily business, even if the volume of invoices is low.
The FIS solution package compares inbound invoices with existing purchase orders in the ERP system and controls the verification and release processes completely irrespective of the invoice format. This helps you accelerate the processing times of your invoices and make processing statuses more transparent. According to its format, the invoice is converted into a format that can be read by the user (visualization).
The seamless integration into the FIS/edc Invoice Receipt Monitor enables the accounting clerk in the company to verify invoices for electronically transferred documents in the same way as the procedure focused on paper documents they are familiar with. Consequently, you implement a consistent and completed invoice receipt process.
INTERESTING DOWNLOADS
Document Processes for SAP with FIS/edc
Audi AG – Invoice as impulse in the digital nervous system
Document Processes with FIS – What our customer say
„For our decision in favor of FIS, not just the functionality was decisive, but we wanted a sustainable platform that is no stand-alone solution.“
High quality standards – our products are certified
SAP certifies the integration of FIS/edc in RISE with SAP S/4HANA Cloud and confirms compatibility with the S/4HANA Cloud, private edition. FIS/edc now fulfils all SAP product standards.
FAQ on FIS/edc
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More InformationOptimized processes for efficiency and high data quality
Master data management with FIS/mpm
The FIS optimization supports you in maintaining master data in SAP already before using the production system and significantly increases data quality. Field-tested workflows simplify master data processing by your employees, ensure faster processing times of master data processes and relieve the cost structure of your company.
Integration of your systems using the Business Process Integration solution by FIS
By integrating or connecting both SAP systems and heterogeneous third-party systems into a company’s IT landscape, processes become consistent and digital, procedures are accelerated and companies gain considerable competitive advantages.
Further services by FIS
Downloads
Document Processes for SAP with FIS/edc
E-Invoicing – Intelligent invoicing processes with SAP
Payment Advice Monitor FIS/edc
Order response monitor FIS/edc
Invoice monitor FIS/edc
SAP Fiori-App – FIS/edc Invoice Approval
Sales order monitor FIS/edc
E-Invoicing – The invoicing of the future at Maschinenfabrik Berthold HERMLE AG
Automated invoice processing at the ifm group
Intelligent invoice processing at electrical wholesaler Sonepar in Germany
ASS-Einrichtungssysteme GmbH Designs Intelligent Processes with E-Invoicing Solution
Audi AG – Invoice as impulse in the digital nervous system
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Sto AG frees itself from paper tourism
TE CONNECTIVITY LTD – Invoice processing for the globalized world
Alfred Kärcher GmbH & Co. KG – From Cyrilic to Catalan – FIS/edc in international use at Kaercher
FIS/edc Satisfies All Trade-Specific Requirements at SPAR Austria
Document processes in SAP with FIS/edc
OCR with FIS/fci
Would you like to take your invoice receipt to the next level and create efficient, transparent and intelligent processes? If so, please do not hesitate to contact the FIS employees by phone or e-mail for your individual solution.
