Extinct World Industries Transforms Accounts Payable with OpenText

Producer elevated processing tempo by 33% with OpenText Vendor Invoice Administration for SAP® Alternatives

Waterloo, ON – WEBWIRE

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), announced Extinct World Industries (OWI), a world provider for the auto and chemical industries, modernized their accounts payable (AP) processes with OpenText solutions. Implemented for the duration of the pandemic and a almost at the moment shift to remote work, OWI improved AP processing time by 33%.

Greatest identified for his or her PEAK® Efficiency ticket of motor oil and antifreeze, OWI manages over a dozen main particular person and commercial producers across 62 worldwide locations. The company wanted to streamline their paper-basically based fully, AP process and decide up rid of the complexities related to manual entry, compliance assessments, and monitoring. They sought a technique to enhance their present SAP® S/4HANA Endeavor Helpful resource Planning (ERP) platform and implemented OpenText™ Vendor Invoice Administration for SAP® Alternatives correct because the COVID-19 pandemic forced a first-rate shift to remote work.

“Timing couldn’t had been more ideally suited to enable us to help our industry processes interesting forward in a full remote working ambiance,” acknowledged Donna Markey, Car Controller for Extinct World Industries. “We eliminated piles of paper and email backlog. Extra than 100 workers participants hold the tools they have to entry and process invoices with ease and immediacy, lowering our cycle instances which helps us decide up rid of behind charges and focal level more on validation and topic resolution.”

OpenText Vendor Invoice Administration for SAP Alternatives empowers digital derive-to-pay and repeat-to-cash industry operations, similar to accounts payable. The answer automates and optimizes the process of receiving, managing, and monitoring industry serious documents for inner teams and exterior companions, possibilities, and vendors. With this solution, organizations can:

  • Hump invoice processing thru almost at the moment invoice data safe and automatic routing
  • Non-public higher ROI by lowering invoice cycle instances and casting off behind charges
  • Pork up productiveness thru shining automation
  • Guarantee compliance thru defined industry processes and a documented audit path

OWI added artificial intelligence including advanced doc and persona recognition capabilities of OpenText™ Shimmering Seize for SAP® Alternatives to extract data from paper-basically based fully invoices and provide deep insights. Markey added, “Which potential we are ready to circumvent manual data entry steps and focal level on rate-added tasks relish inspecting relevant data and traits to better understand our vendors.”

“The pandemic forced many organizations to stride up their automation and digital industry investments,” acknowledged Muhi Majzoub, Chief Product Officer at OpenText. “OpenText solutions empower OWI to not most efficient help serious industry operations working with out peril and prick succor disruptions precipitated by the pandemic, but moreover significantly toughen the fee of their AP processes.”

OWI labored with OpenText Respectable Providers to place into effect the answer, efficiently finishing the project whereas working remotely.

To be taught more about OpenText™ SAP® Alternatives talk to, https://www.opentext.com/products-and-solutions/products/opentext-suite-for-sap

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About OpenText

OpenText, The Recordsdata Company™, permits organizations to provide insight thru market main data management solutions, powered by OpenText Cloud Editions. For more data about OpenText (NASDAQ: OTEX, TSX: OTEX) talk to opentext.com

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