Case Study: INVISTA achieves streamlined accounts payable and reduced cost-per-invoice with Open Text Vendor Invoice Management for SAP® Solutions

INVISTA Streamlines Accounts Payable Operations Using Open Text Vendor Invoice Management for SAP Solutions

INVISTA, a global leader in integrated fibers and polymers, faced inefficient accounts payable operations that drove up cost-per-invoice, complicated accruals, missed discount opportunities, and strained vendor relationships. The company needed to move many North American freight vendors from Evaluated Receipt Settlement to a three-way match, centralize invoice processing, add scanning/indexing, and standardize exception handling and approvals across North America and Europe without dramatically increasing AP headcount.

INVISTA implemented Open Text Vendor Invoice Management for SAP® Solutions to automate three-way matching, enforce preconfigured business rules, enable web-based approvals and workflow, and eliminate low-value manual steps. The result was lower cost-per-invoice, month-over-month reductions in overdue invoices, more accurate and less labor-intensive accruals, improved discount capture and vendor relations, and progress toward significantly reducing freight invoice verification staff while maintaining AP productivity.

Invista

Kathryn Palski

Global Project Leader, INVISTA