ECM Software accelerates invoice processing and management.

Press Release Summary:



Incorporating set of pre-configured invoice processing scenarios, Livelink ECM - Vendor Invoice Management (VIM) v5.1 provides complete application for optimizing vendor invoice processes in SAP® applications. Diagnostic tools accelerate configuration and deployment, while built-in reporting and analytics promote continuous process improvement. Other features include vendor self service portal capabilities and 35 best-practice workflows for handling exceptions.



Original Press Release:



Open Text Shortens Time to ROI with New Release of Vendor Invoice Management for Use with SAP Solutions



New Version Goes Beyond Traditional Accounts Payable Applications with Extensive Pre-Configured Invoice Processing Scenarios, Plus Other Enhancements

CHICAGO, Sept. 24 -- Open Text(TM) Corporation (NASDAQ:OTEX)(NASDAQ:TSX:)(NASDAQ:OTC), the largest independent provider of enterprise content management (ECM) software and solutions, today announced the availability of the latest version of its popular Livelink ECM - Vendor Invoice Management (VIM) for use with SAP(R) solutions that now incorporates an expanded set of pre-configured invoice processing scenarios, along with numerous other customer-driven enhancements. VIM is a complete application for optimizing vendor invoice processes in SAP applications, along with built-in reporting and analytics to continuously improve processes.

The new features in VIM Version 5.1 provide an easy way for companies to jump start invoice process optimization initiatives and realize significant return on investment in less time. Some of the most important issues that need to be considered when managing invoices concern how to handle exceptions such as missing goods receipts, incorrect pricing or incorrect tax. With the latest version of VIM, Open Text is providing 35 best-practice workflows for handling exceptions along with wizards to streamline the process of setting up a baseline configuration.

For existing customers using SAP solutions, such as Energen Corporation, VIM offers a cost-effective way to optimize business processes. At Energen, VIM enabled the company to reduce the number of steps required to process an invoice by 41 percent, from 14 down to nine. When factored across 60,000 invoices annually from some 8,000 vendors this represents a significant cost savings.

"We are fully optimized with a streamlined process flow that takes full advantage of our SAP application-based system," said Brunson White, Vice President and CIO at Energen. "Our team now has time to take a more strategic approach and focus on high-value functions such as vendor analysis and negotiation. And we are also able to consistently take advantage of vendor discounts for rapid payment. One of the main reasons this was so successful is the Open Text application's tight integration with SAP solutions. It's impossible to tell when the SAP piece ends and the Open Text piece begins."

According to Brunson, VIM has also helped to significantly increase overall vendor satisfaction with Energen by simplifying interaction with the company and ensuring rapid payment. Energen has also deployed VIM's built-in vendor self-service portal that lets vendors use the Web to securely check the status of invoices payments, to provide missing information or to review purchase orders.

Other new capabilities in the latest version of VIM include:
- Enhanced Vendor Self Service Portal capabilities
- Enhancements to VIM Analytics to increase performance and offer more reporting flexibility
- New document processing workflows
- New diagnostic tools to speed up configuration and deployment.

"These new features in VIM reduce the cost and time needed for customers to optimize their procure-to-pay processes, while giving them deeper insight into the performance of their supply chain," said Patrick Barnert, Vice President for SAP Applications at Open Text. "This is a proven, robust application that meets today's IT challenges around security, scalability, and performance. It helps customers reduce costs, improve cash management and comply with corporate governance regulations."

VIM Delivers Efficiency, Visibility, Compliance

For many organizations, the process of receiving paper invoices, routing for data entry, resolving problems, and reporting is typically inefficient. Often, most of the time spent on these processes involves manual labor and can be very costly.

To optimize vendor invoice handling, VIM routes problem invoices to appropriate individuals for resolution and approval. It includes elements for Web-based self-service for vendors and approval capabilities for internal users who don't normally use SAP solutions. VIM also provides increased user adoption of SAP applications, which helps maximize return on investment for SAP solutions. VIM uses imaging, workflow, and best-practice design to increase efficiency. An open design makes it possible to accept invoices electronically as well as via paper. Purchase orders, goods receipts, invoice transaction screens, invoice images, and transaction notes are all linked in one place to ensure timely problem resolution with a minimum of effort.

Organizations using VIM, including many Fortune 1000 companies, have significantly improved efficiencies in invoice processing, and enjoy benefits such as dramatically lower cost per invoice, improved on-time payment performance, Sarbanes-Oxley compliance, more captured discounts, reduced duplicate invoices and payments, better reputation with suppliers and more leverage for terms and price negotiation. To learn more about Livelink ECM - Vendor Invoice Management for use with SAP solutions go to: www.opentext.com/2/sol-products/sol-pro-extensions-sap/pro-ll-sap-vim.htm.

About Open Text

Open Text(TM) is the world's largest independent provider of Enterprise Content Management software. The Company's solutions manage information for all types of business, compliance and industry requirements in the world's largest companies, government agencies and professional service firms. Open Text supports approximately 46,000 customers and millions of users in 114 countries and 12 languages. For more information about Open Text, visit www.opentext.com.

Copyright (C) 2007 by Open Text Corporation. LIVELINK ECM and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.

CONTACT: Richard Maganini, Open Text Corporation, (847) 267-9330 ext. 4266, rmaganin@opentext.com; Brian Edwards, McKenzie Worldwide, (503) 577-4583, briane@mckenzieworldwide.com; Michele Stevenson, Open Text Corporation, (519) 888-7111 ext. 2594, mstevens@opentext.com

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