Open Text Accounts Payable for Oracle Enhances Accounts Payable Process to Reduce Costs
Accounts Payable (AP) has historically been a paper and labor-intensive process that has come under management scrutiny, given the emphasis of businesses on containment of cost and productivity enhancements. So, businesses are increasingly turning to Imaging and Workflow Automation (IWA) solutions that streamline the procurement-to-pay cycle to meet these new requirements. Open Text is the market leader in providing Enterprise Content Management (ECM) solutions. Its software seamlessly combines collaboration with content management, transforming information into knowledge that provides the foundation for innovation, compliance and accelerated growth. The Open Text Accounts Payable for Oracle solution streamlines the invoice receipt-to-pay cycle by enabling organizations to convert paper invoices into digital images, store them in a Web-enabled repository for rapid retrieval, and extract data from them to enhance approval processing.