OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced, Faurecia, a global leader in automotive interiors and emission control technology, implemented OpenText™ Vendor Invoice Management (VIM) for SAP® Solutions to manage and access high volumes of information and drive efficiency of procurement operations.
Headquartered in France, Faurecia operates more than 300 sites in 35 countries, with close to 115,000 employees worldwide. The company develops automotive technology to advance safe, personalized transportation that is environmentally responsible. Faurecia needed a solution to enhance and standardize key points of its financial process and implemented OpenText Vendor Invoice Management for SAP Solutions.
“The pandemic was a challenge for everybody, and we could not imagine maintaining our accounts payable without implementing OpenText Vendor Invoice Management. For us, this solution was key to our business continuity,” said Salomé Silva, Accounts Payable Team Leader and SAP Business Analyst at Faurecia. “We streamlined our document-centric processes, increased cash visibility, strengthened cross-collaboration, and we’re now well equipped to respond efficiently during the pandemic and beyond.”
OpenText Vendor Invoice Management for SAP Solutions streamlines procure-to-pay and order-to-cash operations for SAP customers. By optimizing the process of receiving, managing, monitoring, and routing all invoices, quotations, order confirmations, delivery notes, sales orders, remittance advices and related documentation, Faurecia has successfully digitized 80% of its 2 million annual pieces of financial operations information.
“Many companies were forced to examine their business processes when the pandemic struck,” said Muhi Majzoub, Chief Product Officer at OpenText. “With the implementation of OpenText Vendor Invoice Management, Faurecia is now able to take advantage of a solution that helps them ensure consistent, accurate, timely and compliant financial payments to all their vendors worldwide.
Digital transformation amplified Faurecia’s capacity to manage, access, and use information globally. By connecting information to people, applications, and systems, when and where it is needed, the company continues to reduce manual requirements, enhance collaboration, drive efficiency, and achieve results.
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