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2 Key Financials Areas to Target

by Bil Khan | SAPinsider, Volume 15, Issue 2

April 1, 2014

Companies should always be looking to make their processes more efficient and effective. For many, a good place to start is the lease management and accounts payable (AP) areas because of their importance to sound financials. See how SAP solution extensions from OpenText and Nakisa can help your company gain better visibility into liabilities and payments and optimize your global leased assets portfolio.

 

In many businesses, after installing SAP Business Suite software, the accounts payable (AP) and lease management areas are good places to start when looking to make processes more efficient. To help in this endeavor, SAP offers solution extensions that streamline the AP process and provide clear visibility into your lease portfolio to comply with new leasing accounting standards.

SAP Invoice Management by OpenText

For an AP transformation to be successful, you must optimize and automate processes — invoicing, for example. Deploying the SAP Invoice Management application by OpenText on premise and connecting it to a cloud-based Ariba solution and the Ariba Network can help companies reduce processing costs, gain better visibility into liabilities and payments, and improve vendor relations. A leading consumer products company is capitalizing on the hybrid invoice management solution and is reaping the following benefits:

  • Strategically improved and future-proofed invoicing systems, providing greater flexibility to quickly develop and deploy improvements, reduce archiving costs, and enhance the user experience
  • Extended automation, enhancing global visibility and reducing the time needed to process invoices
  • Improved supplier relationships and visibility
SAP Lease Administration by Nakisa

As a single point of entry to collect and validate the contractual attributes of leased assets, the SAP Lease Administration application by Nakisa provides visibility into companies’ lease exposure. This helps them optimize their global leased assets portfolio and support accounting processes for achieving compliance with the new regulations. The application:

  • Prepares them for compliance with leasing accounting standards
  • Helps visualize global lease portfolio and exposure
  • Centralizes all lease data in one repository
  • Speeds up validation by collaborating with stakeholders
  • Improves strategic decision making for lease compliance

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Bil Khan
Bil Khan

Director
Global Ecosystems and Channels
RTM Marketing
SAP



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