Bank Communication Management

Transcription

1 invenio business solutions Delivering Control: Invenio Financial Solutions Bank Communication Management

2 Bank Communication Management Enhance payment communication with multiple banks while increasing control. As with anything online, sending and receiving payments has a few risks associated with it and for businesses, most of those come down to communication with banks. Every organisation that takes electronic payment has to communicate with a multitude of banks, usually in the form of approving and releasing payments, communications and other treasury based functions. Many businesses are still performing this process on a case by case basis, which involved a high level of manual processing, productivity loss and excessive exception handling when things don t work as they should. Common Bank Communication Problems High level of manual processing Productivity loss and excessive exception handling High maintenance costs due to deploying several different bank communication interfaces Security gaps during payment file transfers Significant risk of data theft and financial loss Slow identification of errors

3 How the Solution Works Working with the vast range of functionality within SAP systems, Invenio have created a fully integrated and automated end-to-end payment and banking solution which is highly flexible to company requirements, no matter which banks they work with. The module called SAP Bank Communication Management (or BCM) is a sub-module of the financial supply chain management module and offers a variety of key functionalities to solve bank communication problems. The Features Payment Merging for automatic merging of payment runs from across the business providing singular central reporting. This allows for complete visibility of all outgoing payments in real-time Payment Grouping designed to group payments into different batches based on unique business design rules Electronic Approvals based on pre-defined business parameters Increased Security at each stage with digital signatures, file encryption and payment status acknowledgements Electronic and Automatic Payment Transfers will enable automatic transfers within a secured communication channel using SAP PO as the middleware system Employee Salary Payments can be initiated through the SAP HCM module which is fully integrated with SAP BCM Detailed Reporting at a granular level for clear visibility of electronic payments and reconciliation Mobile Payment Approvals allowing for approvals anytime, anywhere

4 Solution Overview Optimise payment approvals Monitor communication at every level Automation of bank communications Lower maintenance costs Faster payments Increased transparency

5 Why work with Invenio Invenio Business Solutions is a UK based SAP Gold Partner with a global footprint. Since 2006 we have been developing solutions for global companies to use their SAP investment to their full advantage with solutions that drive value and outstanding results. Our financial solutions have been developed by our consultants through working with companies such as Universal Music Group, Penguin Random House, Ministry of Finance and Treasury Maldives and Concordia International to refine their financial processes according to their unique requirements. Built on SAP, the Invenio Financial Solutions have been adapted to offer companies greater control over their financial processes, improve communication with banks, better financial management for international enterprises, improve accuracy, reduce manual efforts and create transparency across all processes. Contact: Invenio Business Solutions 125 Wharfedale Road IQ Winnersh, Reading RG41 5RB UK Tel. +44 (0) info@invenio-solutions.com Website: