SAP to resell Open Text ‘purchase to pay’ solution

1st December 2008

Open Text Corporation and SAP have agreed that SAP will resell Open Text Vendor Invoice Management (VIM) under the name the SAP Invoice Management application by Open Text. As part of this agreement, SAP will also resell Open Text’s document capture solution Invoice Capture Center, from Open Text’s recent acquisition of Captaris. The announcement builds on the reseller agreement signed by the two companies last year.

Processing paper invoices, requires substantial manual effort for data entry to financial applications and represents a major challenge for customers attempting to manage high volumes of invoices, ensure timely payment and keep costs under control. Large corporations process millions of invoices per year, of which usually more than 80 percent are still paper-based. Although invoice exceptions represent a small percentage of this volume, they account for the majority of processing time.

SAP Invoice Management will be targeted to all industries and organisations interested in increased control and efficiency of their purchase-to-pay cycle. SAP says that organisations already using VIM, including many Fortune 1000 companies, experience significant benefits, such as dramatically lower cost-per-invoice, improved on-time payment performance, drastically improved ability to leverage cash discounts, automated internal financial controls, reduced duplicate invoices and payments, improved ratings by suppliers and, as a result, greater leverage in negotiating beneficial terms and pricing. SAP Invoice Management completes the portfolio of finance solutions for SAP’s enterprise resource planning (ERP) application, SAP ERP, enabling companies to optimize their entire financial supply chain.

The OCR option for SAP Invoice Management is scheduled to be available in early 2009. The document-capture capabilities allow organisations to convert paper invoices into electronic form so they can be processed electronically at a lower cost.

“Open Text continues to demonstrate its importance as an SAP partner, adding value with its proven experience in enhancing document processing solutions,” said Tom Roberts, global vice president, Global Software and Technology Partners, SAP. “By working together and expanding our reseller agreement to include invoice management, we are able to assist customers in transforming their finance functions in an efficient, more holistic manner.”

“Organizations worldwide run critical business operations on SAP solutions,” said John Wilkerson, executive vice president of Global Sales, Services and Support, Open Text. “Through our reseller agreement, we’re providing combined solutions that offer the kind of bottom-line value that’s essential in a tightening economy. We benefit from a long history of experience working with SAP to deliver these solutions, and look forward to continuing the success we’ve seen so far in our work with SAP.”

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