
How can Professional Services industry benefit from SAP S/4HANA Cloud?
Learn more about SAP S/4HANA Cloud for the Professional Services industry.
Overview, Integration Touch points with Fiori DemoSAP Multi Bank
Overview, Integration Touch points with Fiori DemoSAP Multi Bank
SAP BCM is a software solution that helps organizations identify, plan for, and respond to potential disruptions to their business. The solution includes features for risk assessment, planning and executing continuity plans, testing and simulation, and monitoring and reporting. SAP bcm payment approval workflow can be implemented as a standalone solution or integrated with SAP ERP
In this fast-moving world, we need a solid solution that can optimize all the payments at a click while letting you accept them on the go. Let’s understand Payment Centralization and Automated payments in SAP Banking and treasury automation software.
The image below shows the batch files sent through SAP bcm payment approval.
Through ERP Bank Connectivity, the payment batch files, which are the Automatic Payment Run app – the payment must be approved by the respective manager through the SAP bcm payment approval workflow process.
The Batches can be approved on the whole only.
When the SAP bcm payment app is opened, you can filter all the approvals sent to you in the Multicash payment factory by:
The batch payment can be selected and approved or rejected. If further details are required, that payment batch can be opened to view further details. The image below shows the various payment batches waiting for approval.
Why enable SAP for Payment approvals?
You can bring in several processes under a single umbrella. Then, you can easily edit, view, and direct more relevant processes quickly and efficiently.
Enable SAP Fiori to enjoy a next-gen web experience for procurement management using search capabilities, event tracking, and dashboard reporting.
SAP bcm payment approval makes the best out of end-to-end control and visibility. Simplify all your invoice processing tasks with enhanced business productivity. Let your business be at the forefront of managing its payment process in the most organized way possible.
The Payment approval process SAP BCM shows the detailed payments made for every invoice due for payment. The due date is calculated based on the payment terms given by the customer and the invoice date. When the invoices are due for payment, they are included in the automatic payment run.
The below image shows a BCM Payment SAP file that is opened. It consists of the individual payments that are to be cleared.
The details provided in the individual payments are so detailed that they can be traced back to a payment invoice. It perfectly tracks the documentation of all the invoices and their corresponding clearing journals in one flow.
SAP BCM is designed to streamline the payment approval process. Organizations can automate the routing and approval of payments by using the system, ensuring that payments are authorized and processed quickly and efficiently.
To use BCM for payment approvals, you must set up the system to reflect your organizational payment approval process. Once the system is configured, you can use the BCM Payment SAP process to route and approve payments.
All the details that can be tracked
More link aspects
The Approve Bank Payments app also allows More Link features from each payment journal to open the following. It can drill down to provide additional details about the invoice payment:
The Approve Bank Payments app also has a feature to Defer a payment batch from approval. It will allow the approver to check/verify the payment details of the batch and approve the payment in the future.
To conclude
By providing the necessary details, you can get the payment approval process done using SAP BCM. Do you need more information?
Let iQuantM explain about Financial services network, Bank integration, Corporate connectivity, treasury management, and SAP FSN Connector.
Notifications only about new new blog post updates.
Learn more about SAP S/4HANA Cloud for the Professional Services industry.
How can a CFO excel at what he does? Read this blog for insider tips.
Register for a free consultation and Realize Your Enterprise's True Potential
Experience Intelligent Enterprise