The vision of a paperless workplace has been around for years, but the tools to make it a reality are finally within reach. But surprisingly, many organizations are still stuck in the wheels of manual processes, siled information, and on-premises software.
How can companies jump off the wheel and truly transform?
According to a recent IDC study* sponsored by SAP and OpenText, the answer lies in starting with a content management platform that is accessible, integrated, and most importantly, comprehensive. The paper highlights that this approach drives digital outcomes and “enables teams to easily identify and obtain the information they need, thereby increasing efficiency and quality.”
Other reported benefits include faster document migration, streamlined invoice and finance operations, and effective regulatory compliance.
Digitalization takes a new direction
Resistance to digitalization is not just an inconvenience. This is a major barrier to achieving the resilience, efficiency and sustainability needed to remain competitive in a dynamic market. However, it can be easy to be intimidated by the amount of effort required to scan, integrate, manage, manage, protect, and integrate vast amounts of information, documents, and content to truly digitize your business.
OpenText’s SAP Enterprise Content Management (ECM) solution alleviates these fears, as evidenced by IDC interviews with current SAP customers. IDC calculates that organizations can save an average of $54,600 per million documents stored in the solution, for a total of $9.29 million. These savings directly impact various departments, streamlining workflows and freeing up resources for more strategic tasks.
The key to this transformation is integrating business processes with ECM solutions to drive continuous, efficient, and error-free processes. This integration enables you to go beyond simply digitizing paper-based information and actively use content to work, innovate, and create new content that is more effective and has greater impact.
Take invoice management, for example. Organizations can digitize and automate their accounts payable processes, allowing them to manage and accelerate invoice processing and comply with local and global regulations. The capture of incoming business documents can also be modernized and automated to extract and process critical information from invoices and related documents, eliminating the need for manual intervention.
Quantitative benefits of digital content integration
The benefits of SAP ECM solutions from OpenText extend beyond financial operations. IDC found that companies using these solutions achieved a 351% ROI over three years. This is primarily because document-related tasks such as ingestion, processing, and auditing are handled quickly and efficiently, all of which are important components of ECM.
According to customers shared during IDC’s research, one of the standout benefits is streamlined data management. “With OpenText connected to SAP, you can now see all kinds of data in one place. By having it in one place instead of many places, you can improve the speed and speed of access. It increases efficiency and allows us to take data governance seriously.”
What do all these benefits mean for day-to-day business operations? Here’s what some of our surveyed customers shared:
Document migration is 35% faster
Document migration can be one of the most challenging aspects of digital transformation, especially when migrating to cloud ERP systems such as SAP S/4HANA Cloud private and public editions. However, by integrating an ECM solution with a BPM strategy, organizations can reduce migration time by 35% and increase the efficiency of the workforce required for tasks by 53%.
This efficiency reduces costs and makes the transition smoother. One customer said: “One of the most significant impacts has been the automation of invoice approvals, which has significantly reduced processing time and minimized human intervention.”
Saved $5.36 million in invoicing and accounts payable
One of the most important benefits of linking business processes with ECM is the reduction in errors, especially in areas such as invoices and accounts payable. Manual processes are error-prone, leading to costly penalties and missed opportunities.
As an example, by automating invoicing and accounts payable tasks using AI and machine learning capabilities within OpenText’s SAP Information Capture Core application, organizations reported a 37% increase in team efficiency . In addition, savings of $1.74 million were realized in accounts payable processing costs, with an additional $5.36 million in combined invoicing and accounts payable savings.
These findings suggest that incorporating ECM solutions into business strategy not only improves financial performance, but also strengthens overall compliance. These solutions support remote work and collaboration, which are increasingly important in today’s globalized business environment, by providing secure and centralized access to documents. As a result, companies can maintain high levels of productivity and compliance no matter where their employees are located.
Pay vendor invoices 25% faster
Another benefit highlighted in the IDC study is 25% acceleration in vendor payments, resulting in annual savings of $1.08 million per organization. This accelerated payment processing has a direct impact on cash flow, allowing businesses to optimize working capital and potentially secure early payment discounts while reducing the risk of late payment penalties.
One of the customers in the IDC study said: “Integrated AI and ML capabilities have revolutionized billing. One of the biggest impacts has been the automation of invoice approvals, which significantly reduces processing time and eliminates human intervention. It was kept to a minimum.”
Increased payment speed is facilitated by the automation and intelligent processing capabilities of the SAP ECM solution powered by OpenText. By automating the capture, extraction, and validation of invoice data, these solutions eliminate bottlenecks and errors that typically slow down manual processing, while increasing accuracy and compliance.
Unlocking the full potential of ECM
IDC research shows that integrating SAP ECM solutions powered by OpenText with business processes enabled by SAP S/4HANA Cloud is essential to breaking free from manual processes and outdated systems. These solutions improve operational efficiency and financial performance with significant ROI, faster document migration, improved invoice processing, and faster vendor payments.
For more information on the calculated cost savings and business benefits of integrating BPM and SAP enterprise content management solutions with OpenText, see the *IDC white paper sponsored by SAP and OpenText, Business Value of SAP ECM Solutions with OpenText, Document #US52389824, July 2024 provides more details. .
Learn more about OpenText’s SAP ECM solution.
Bil Khan is a senior director of global partner marketing at SAP.
*IDC Business Value White Paper, “The Business Value of SAP ECM Solutions by OpenText,” commissioned by SAP and OpenText, IDC #US52389824, July 2024