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.