Payments that are to be initiated are grouped together in a payment run and these batches are triggered for workflows. SAP BCM monitors both the incoming and outgoing workflows to track the cash flow within an organization. Therefore, the banking process is streamlined with Fiori reports for a clear communication with the bank.
What is SAP Multi-Bank connectivity
It is a cloud-oriented solution offering a multi-bank digital channel between SAP as well as banks. The advantage of MBC solution lies in its embedded SWIFT connectivity. Many prefer this solution since it has incorporated several security measures.
Who are eligible to use SAP MBC?
There are a certain set of SAP customers who are eligible to move on to SAP MBC. They are:
- SAP customers on ECC using SAP ERP 6.0 or higher version
- SAP S/4HANA Cloud customers
- SAP S/4HANA on-premise edition customers
What new with SAP MBC?
Many customers will be able to interact with different banks on a regular basis. You can send and receive multiple files from bank.
When you want to successfully communicate with a bank, you need to establish a robust communication with it. This is possible with SAP MBC.
Bank communication was a norm even before the introduction of SAP MBC. But when SAP MBC was introduced, bank communication has been cost-effective and convenient.
The payment program (F110 or F111) runs and allows the download of payment media file that can be uploaded and to an intermediate system which helps in the transmission of the payment file to and from the bank. This payment file generated is in the bank’s required format (MT100 or ISO 20022 XML). This process also allows encryption of the payment file before transmitting to the bank for payment.
SAP Bank Communication Management has the following benefits