Innowera - RDM: Invoice Management

Innowera - RDM: Invoice Management

RDM | Procurement | Invoice Management

Invoice management is the process of receiving, verifying and posting invoices from suppliers for provided deliverables. Invoices can be received electronically, scanned or entered manually. Price, conditions and invoiced quantity are compared to goods receipt and to contractual agreements. When the invoice is posted, the invoice data is saved in the system. The system updates the data saved in the invoice documents in Materials Management and Financial Accounting.

Invoice Processing The logistics invoice verification checks incoming invoices for correctness in terms of their content, prices, and arithmetic, thus defining the basis for the payment run. The price and conditions are compared to the conditions in the purchase order, or the invoiced quantity is compared to the received quantity. If differences exceed customized limits, the invoice is blocked for payment automatically. Tax calculation and settlement of delivery costs are also integrated. You can park invoices if you want to involve several persons or departments in the invoice verification process. Workflow features help to control this process.
 
SAP Invoice Management by Open Text SAP Invoice Management by Open Text is an application integrated in SAP ERP application and the SAP NetWeaver technology platform to streamline Accounts Payable (AP) operations. It optimizes and simplifies the process of creating, managing, monitoring and routing purchase orders and invoices for AP personnel and vendors. Invoices are processed more efficiently and quickly; problem invoices are automatically routed for problem resolution, approval and payment.
 
Flexible Invoice Reconciliation To further strengthen procurement of unplanned services a direct reference in Invoice to contract and limit Purchase order will be enabled for correct invoice verification. This will drive compliance for unplanned services and increase transparency of contract usage, which would lead to better prices in the future.