The benefits of integrating payment platforms into SAP
It is essential for companies to provide an efficient payment process within their organization. Inefficient payment processes can bear risks (e. g. fraud), cause high costs, increase manual activities and lead to incorrect payments. can bring risks (e.g. fraud attack), high costs, manual activities and incorrect payments. Therefore, every SAP customer (whether ECC 6.0 or S/4HANA) should consider the alignment of their payment platform.
SAP Multi Bank Connectivity
SAP Multi Bank Connectivity is a cloud solution by SAP to transport payment files to the bank via Swift, EBICS or host-to-host connection. In this context, defining a bank and format strategy is highly recommended to get the optimal result. The release and monitoring are done via SAP Bank Communication Management.
In addition to the solution from SAP itself, there are also various add-ons that can be fully integrated into your SAP system:
- The Virtusa EBICS Client is a solution for bank communication that is fully integrated into SAP, which enables companies to manage bank accounts, automate payments, perform other bank transactions and harmonize the possibility of bank communication with the multi-bank capability. The banking transactions are processed via the EBICS (Electronic Banking Internet Communication Standard) interface. Payments are released in the SAP Bank Communication Manager.
- TIS (Treasury Information System) is a payment platform that can be fully integrated into SAP and helps companies optimize and automate their financial processes. TIS provides companies with a wide range of functions such as automated payment workflows, risk management and financial reporting. It also offers multi-bank capability.
Companies can make their payment transactions more efficient, secure and transparent by using the previously mentioned payment platforms and thus a unified solution in SAP. The right choice of payment platform depends on various aspects such as the internationality or the size of the respective company. A combination with SAP In-House Cash can also further optimize the entire process.
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