xft invoice manager, xft's accounts payable solution, helps to complete incoming invoice processing in a central system and to replace paper-based invoice handling. This way, invoice management is accelerated and approval processes become more
transparent and efficient.
How it Works
At the heart of xft invoice manager is the central invoice receipt monitor. This monitor serves as the central workbench for all accountants working on invoice verification. It provides an excellent overview of all invoices to be processed and allows to control the entire process centrally, from parking through releasing and posting.
Invoices enter the process via a scan client that is hooked up to the system. The xft invoice manager works with many different scan clients and is not restricted to certain vendors.
The scan client extracts the invoice data by OCR, pre-validates it and transfers it to xft invoice manager together with the original scanned image, using the standard interface SAP ArchiveLink. For each scanned invoice, xft invoice manager generates a separate SAP workflow in the central invoice receipt monitor and automatically determines the accountant responsible using the SAP vendor master data. At the same time, xft invoice manager performs additional data verification, for example, it checks whether the creditor data in the system is complete. In the meantime, the digitized original invoice is stored in the SAP archive system as a PDF document.
xft invoice manager automatically fills the invoice instance in SAP with the data extracted from the scan client. It then checks whether the conditions for automatic posting have been met (optional step). If not, the invoice is parked in SAP and its status is displayed accordingly in the invoice receipt monitor. In addition, the PDF of the original scanned invoice is automatically linked to the parked or fully posted SAP document.
From the invoice receipt monitor, the accountant triggers the approval workflow at the touch of a button. The system automatically suggests that the SAP user who placed the related order should be the approver, but the accountant can also select any other user in the system. Furthermore, there is a field for notes, where users can select a suitable text from various standard texts and add it to the workflow.
The approver now receives the invoice PDF together with the request in his or her inbox in SAP Business Workplace. At the same time, he or she gets an e-mail with a link that enables the invoice to be called using the SAP Web interface from outside the system and displayed in a Web browser.
To process the invoice, there are three options: releasing, rejecting or forwarding the invoice. If the approver does not release the invoice, he or she must state a reason in the field for notes. The accountant then can incorporate this reason into a letter that is sent to the vendor along with the rejected invoice. If the approver forwards the invoice, this information is displayed in the invoice receipt monitor as a new workflow step and the current agent is displayed. As a result, the accountant always knows where exactly the invoice is.
xft invoice manager supports this and many related invoice management processes, all directly integrated with standard SAP accounts payable functionality. xft invoice manager is a powerful tool to handle even the largest invoice amounts and brings structure and control to a process that formerly offered little insight during processing and such adds tremendous value for cash management and general processing efficiency.