OpenText™ Vendor Invoice Management Solution Delivers Efficiency, Productivity, and Savings
WATERLOO, Ontario, Feb. 7, 2017 /CNW/ -- OpenText™ (NASDAQ: OTEX, TSX: OTEX), a global leader in Enterprise Information Management (EIM), today announced that the Bernalillo County government office in New Mexico has selected OpenText Vendor Invoice Management (VIM) and OpenText™ Invoice Capture Center for SAP® Solutions to automate and digitize its Accounts Payable (AP). Using OpenText, the County office streamlines the way it creates, manages, monitors, and routes purchase orders and invoices for increased efficiency, productivity and cost-savings.
The Bernalillo County office serves more than 650,000 citizens, and employs nearly 2,500 personnel across 24 departments, from Health and Social Services to Parks and Recreation. Originally using a paper-based, manual process, the County needed a centralized solution to manage the nearly 3,500 invoices it receives each month to cope with budgetary pressures, increased workloads, and reduced staffing.
"We were receiving invoices across all the different departments within the County," said Amy Childers, financial projects coordinator at Bernalillo County. "A vendor would call and tell us they submitted an invoice three months ago, but had not been paid. Our accounts payable team would have to search for the invoice, often not in any system, and scramble to get it paid. It was a crazy and uncontrollable situation, invoices were everywhere—except in the system."
Following a review of requirements and solutions, Bernalillo County selected a digital solution based on key products from the OpenText Suite for SAP, allowing the County to tightly integrate the invoice management solutions with its SAP platform.
As part of the digital transformation, Childers stated she wanted to centralize the receipt of invoices, scan and capture invoice data and images, use workflows for invoice approval and create visibility across the entire invoice management process. According to Childers, by implementing the OpenText solution, 95 percent of all invoices are scanned and validated within two business days of receipt, and approved and indexed within five business days.
"The OpenText solution increased visibility into each stage of the invoice process. When a vendor calls us, we can tell them the exact status of the invoice," said Childers. "Instead of calling the department or the vendor, now we run the OpenText VIM analytics report, and look it up. It's now much easier and more efficient for accounts payable to track it down."
The County found that the solution met its vision for timely invoice payments, workflow approvals, performance measures and reporting. And as an added benefit, built-in and custom reporting functionality lets staff generate accurate, timely reports on invoice management. The digital transformation of its invoice management processes enables Bernalillo County to deliver on its commitment to residents to provide sound financial operations and high-quality services at a competitive cost.
OpenText enables the digital world, creating a better way for organizations to work with information, on premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
Connect with us:
OpenText CEO Mark Barrenechea's blog
Twitter | LinkedIn | Facebook
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Copyright ©2016 Open Text Corporation. OpenText is a trademark or registered trademark of Open Text SA and/or Open Text ULC. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text SA or other respective owners. All rights reserved. For more information, visit: http://www.opentext.com/who-we-are/copyright-information.
SOURCE Open Text Corporation
For further information: Tim Brook, OpenText, +44 (0)118 984 8022, email@example.com ; Jacklyn Elliott, Weber Shandwick, +1 416-642-7899, firstname.lastname@example.org, http://www.OpenText.com