Digital document processes are of high importance for the digitization of business processes. It is one of the central elements for optimizing the operative business and simplifying the work within the user departments. You can use FIS/edc, the Electronic Document Center for SAP, as a convenient tool for the entry, processing and archiving of paper documents and electronic formats (e.g. ZUGFeRD, EDI and Factur-X). FIS/edc enables the connection and integration of customers and vendors to your existing SAP system. Documents, such as invoices, order responses, delivery notes and orders, are automated with FIS/edc and processed with fast processing times.
Cross-departmental document processing as a holistic solution
FIS/fci and FIS/edc for efficient document processes
FIS as an SAP specialist offers companies an interesting selection of numerous components for implementing different corporate objectives at a high level. One out of many solutions is professional document recognition comprising anything from the import of paper documents to the release of the vendor invoice. Software solutions such as FIS/fci and FIS/edc for SAP are sustainable solutions with numerous benefits due to the continued further development within the release strategy.
- Added value in terms of quantity and quality due to higher efficiency and increased productivity.
- The software solution is adapted to the company-specific requirements.
- The release strategy always ensures a state-of-the-art software solution.
FIS/fci for ocr document recognition
The FIS/fci solution as part of FIS/edc can be used to automatically enter paper documents (or even electronic documents such as PDF documents) in the existing SAP solution. Document characteristics, such as customer name, address, phone, fax, bank data and tax number are automatically matched with the master data record in the ERP system. Excellent recognition rates are achieved using an extensive test methodology. Of course, FIS/fci is suitable for all typical documents in companies, such as invoices, order responses, delivery notes and orders.
Your benefits with FIS/edc
The FIS/edc solution for automated document processes in SAP offers many advantages with a significant effect on the cost structure of the company.
- Increase in productivity and revenue due to integrated and automated business processes
- FIS/edc can be fully integrated into the SAP system
- Improved cash management through modernization of the payment process
- Promotion of vendor relations through shorter payment cycles
- The increased transparency of the invoice verification has a positive effect on enterprise management due to process-related evaluations
- Available in many languages
- High flexibility due to the integrated mobile approval procedure for invoice verification
- More satisfied customers through faster, automated customer order processing
FIS/edc optimizes SAP invoice processing in finance and accounting
The solution for processing incoming invoices in FIS/edc is fully integrated in the overall purchase-to-pay process, which enables the step-wise increase of the invoice processing automation degree in SAP. In financial accounting, invoices are received via PDF document, in paper form or via an electronic invoice. Incoming invoices and payment advice notes in paper form or as PDF are automatically processed via an OCR document recognition with excellent recognition rates. Moreover, the software supports electronic documents and invoices, such as EDI, ZUGFeRD or Factur-X. Once the documents have been imported, they will automatically be assigned to the existing data records in the SAP system.
Advantages for your (financial) accounting:
- Support of all standard invoice formats, such as EDI, ZUGFeRD and Factur-X, in one solution
- Documents received as PDF or e-mail can be processes without any problems as well
- Automatic matching when receiving payment advices with open customer or vendor item
- Faster processing times and more efficient use of cash discount agreements
- High compatibility of the FIS solutions with other system componentsKomponenten
The FIS software proves to be highly efficient for automatic matching. If no match is made, it is possible to use an uncomplicated subsequent invoice verification or an electronic workflow for enriching missing information. Internal document assignments, item matching and data enrichment form the basis for a direct invoice document update in SAP. Optionally, electronic invoices can be saved as visualized PDF documents in an audit-proof way. The connected process and approval procedure rounds off the options of automated invoice verification. This workflow enables the completely paperless release, ensures a respective throughput of the invoice and increases the transparency for the management. Once the release workflow has been completed, the invoice can be processed in an accounting-related way (posting, account assignment and payment).
Useful: The invoice can also be easily released via the mobile app
An SAP Fiori-based mobile app can be used to execute approval requests in FIS/edc in connection with vendor documents in SAP, i.e. processes, such as check, approval, rejection, commenting, forwarding and account assignment of incoming invoices, anytime, anywhere and without long wait times, irrespective of whether an FI invoice without purchase order reference or an MM invoice with purchase order reference is concerned.
Machine Learning in Practice – efficient processes in finance and accounting
Machine learning is a subarea of Artificial Intelligence. As the wording suggests, it is about imparting knowledge to machines or computers. To this end, a so-called neural network or model needs to be trained with data, such as texts or images. The respective data can be unstructured financial data from the SAP system for instance. From the mass of training data, the system extracts characteristic features to enable a direct recognition and assignment of the data imported in the future based on these features.
Machine learning provides major benefits, particularly if processes are to be automated for which no generally accepted rules can be found, i.e. if classic Customizing is not sufficient. With SAP Leonardo, SAP provides a solution here.
Especially in the area of finance and accounting, FIS has identified a clear benefit by applying machine learning. In this way, the technology can be used for automated classification of FI invoices for instance. Furthermore, an automatic account assignment system can be established in the next step by using machine learning. The process is eventually completed by Artificial Intelligence finding the approver responsible for a specific invoice due to its experience and automatically sending it to the approver for release.
Efficient processing of order confirmations in SAP – relief for your purchase department
Purchasing and procurement benefit from the FIS/edc Order Response Monitor due to the automated processing of all inbound document types, such as order responses or delivery notes. The documents received are displayed in the order response monitor from where they are imported directly into the SAP system via the SAP standard IDoc interface. In Customizing, you can define rules concerning the management of discrepancies between purchase order and order response. Here as well, manual postprocessing is possible for differences. By assigning the order response to the purchase order, tolerance exceedances or discrepancies between purchase order and order response are displayed to the inspector. This enables an efficient postprocessing in the ordering process directly from the SAP system.
Advantages for your purchasing department:
- Automated processing and update of all inbound documents.
- The process supports paper documents via OCR in the same way as electronic documents via EDI or PDF format
Processing sales orders with FIS/edc – efficient processes for sales
The FIS/edc sales order monitor is used for optimizing the office-based personnel processes and releases valuable resources. The sales order monitor enables the content-related and technical entry and processing of all inbound purchase orders or sales orders that are entered as paper documents in SAP via OCR (document recognition) or that are transmitted electronically as PDF via EDI or e-mail. Consequently, erroneous EDI orders can directly be processed by the sales employee which will help to simplify your IT processes.
Comprehensive check and matching routines enable an automated processing of inbound sales orders. This means that in case of correct sales orders with or without reference to preceding documents (e.g. quotations, contracts), the document is created by the system and the logistical chain can be triggered. The sales order monitor also enables you to keep track of all customer-relevant data and documents at a central point.
Advantages for your sales department:
- Shorter throughput times for customer orders thanks to automation
- Cost savings through automatic order entry
- Reduction of manual actions
- Central customer file enables information to be provided in real time in the event of queries
Entry, Archiving and Assignment of Documents with the FIS/edc document monitor
A prerequisite for optimum processing times and fast reactivity in all departments is a digital file for each business transaction, in which all accompanying documents for a purchase order or a customer/vendor are stored centrally. The FIS/edc Document Monitor enables the entry and archiving of documents in the SAP system and their automatic assignment to other objects (such as documents, customers, etc.). A document can also be assigned to several objects at the same time, such as to a customer or a purchase order. Respective matching routines in the SAP software products enable a comparison with existing documents as well as automatic linking.
For example, the system can recognize directly if a delivery note signed by the customer is based on an outbound delivery. These can then be assigned directly to each other and stored in the SAP system in the corresponding outbound delivery. In addition, for instance, sent commercial register extracts can be automatically stored with the appropriate customer data. Freight documents are part of customer purchase orders, for exporting companies also the customs documents. The automatic linking significantly increases efficiency during processing and makes your company more digitized.
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Optimized processes for efficiency and high data quality
Further services by FIS
Find out more about the different benefits that your company benefits from thanks to sophisticated document processes and that have a positive impact on your cost structure. Would you like to find out more about the innovative solution for managing your documents? Write an e-mail or call – the SAP specialists at FIS will be happy to help you on your way to greater efficiency and lower costs.