Payment Cockpit is a tool providing opportunity to manage outgoing payments in the Client’s SAP ERP system in a flexible way.
Fintiera Payment Cockpit Cockpit is a tool providing opportunity to manage outgoing payments in the Client’s SAP ERP system in a flexible way.
The system is a result of joint work of experts who specialize in software & functional development of SAP ERP.
Benefits
Payment Cockpit enables automation and, as a result, shortening the process of settling liabilities in those companies which, due to the specific nature of their business activity:
- Use numerous bank accounts and require more flexible method to handle them in SAP
- Execute payments on a decentralized basis and suffer from insufficient control over the process
- Perform manually operations, the elimination of which would allow to improve and increase the security of payments
- Produce a considerable amount of bank transfers, the verification and maintenance of which in the system take too much time.
The application organizes the payment process by dividing it into clearly identified stages, each of which gives authorized users an access to specific functions.
- Time - shortening the payment process by eliminating manual operations and direct communication with the bank
- Information – obtaining full knowledge of current liabilities to be settled, divided into bank accounts and currencies
- Safety – increasing control over the process through the acceptance mechanism and automatic file generation
- Savings – reduction of transactional costs through flexible selection of the bank to execute payments.
What differentiates our offer:
- The only product on the SAP market dedicated to support the entire payment process rather than focusing only on the technical exchange of data with the bank
- Advanced functions of proposals for payment change, unavailable in other solutions
- Extended tier of data presentation enabling view into ongoing and historical payments
- Possibility of easy upgrade of the tool in the future, e.g. transition from file-based communication with the bank to the WebService communication without changing the interface for the end user
- Guaranteed sustainability of the solution thanks to application updates
- Complementarity with our other products supporting banking functions – the cockpit of bank statements and the cockpit of liquidity.
- Full integration with SAP standard payment process
- Organizing process by dividing it into stages
- Process automation through elimination of manual operations
- Increase control over the process through the introduction of a multi-level acceptance mechanism and extended authorization system
- Ability to change the parameters of automatically generated proposals for payment
- Multi-dimensional presentation tier of transfers and exceptions data
- Integration with e-mail by sending e-mails with relevant information to relevant users
- Integration with the bank at the data exchange level (Web Service) and the possibility of signing files with a payment certificate directly in SAP.
- Automatic creation of F110 proposal on the basis of sample run
- Multi-level acceptance of F110 proposal, its withdrawal and removal
- Cumulative change of proposals for payment (F110 overlay), bank transfers blocking, shifting transfers to a specified bank according to the amount threshold, optimization according to banks
- Handling exceptions, e.g. blocked invoices
- Presentation of payment processing statuses at each stage of the process
- Overview of bank transfers and invoices list for all batches of bank transfers (preliminary estimate of payments)
- Getting from the general (batch of bank transfers) to the specific (particular invoices)
- Dynamic payment sums
- Collective reporting of blocked positions in proposals
- E-mail sending to a group of users after performing certain operations (e.g. acceptance, execution of a run, saving a file on a network location)
- Handling communication with the bank both through Web Service (programmed per bank at the stage of application implementation) and local/network storage of flat files
- Security – requirement to log in to perform any operation in the application, no access to SAP file edition, in case of web service: sending files to the bank via SSL channel, multi-level bank authorization with qualified/unqualified certificate (programmed per bank at the implementation stage)
- Data consistency – the application blocks currently processed batches, preventing them from being changed by other persons at the given moment
- Flexible authorization management – access to the application functions (change, acceptance of proposals, sending files, etc.) can be limited by using dedicated authorization objects
- Flexible configuration of available banks and acceptances processes.
- From the technical point of view, this solution is available for every Client using SAP ERP 6.0 with active SAP NetWeaver module of at least 7.40 version. Also an extension to the process executed in the Client’s SAP FI module by means of an automatic payment program (the so-called SAP F110 transaction) is a functional solution.
- In order to get all the benefits of the Payment Cockpit, we suggest our experts analyse the payment processes functioning at the Client’s premises prior to installation of the solution.
- The analysis consists in reviewing individual elements of the business process within and outside the SAP system, which may be implemented by various units within the Organization.
- As a result of the assessment, one prepares a document which is the basis for the implementation of the Payment Cockpit along with the functions dedicated to the Client and a recommendation for possible changes in business procedures.
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