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back to all SAP announced RISE with SAP earlier in 2021. The main intention of SAP in introducing RISE, SAP has been to promote flexibility and fast
Overview, Integration Touch points with Fiori DemoSAP Multi Bank
Overview, Integration Touch points with Fiori DemoSAP Multi Bank
SAP Bank Communication Management helps implement various approval workflows for an organization’s payments before processing that Payment with the bank. An example is a workflow approval made by a payment manager for Payment due to a supplier. Once the manager approves this cash outflow, the AP person can initiate this transaction with the bank.
Payments to be initiated are grouped in a payment run, and these batches are triggered for workflows. SAP Bank Communication Management Integration services monitor incoming and outgoing workflows to track the cash flow within an organization. Therefore, the banking process is streamlined with Fiori reports for clear communication with the bank.
It is a cloud-oriented solution offering a multi-bank digital channel between SAP and banks. The advantage of the UK’s SAP Bank Communication Management Integration services lies in its embedded SWIFT connectivity. In addition, many prefer this solution since it has incorporated several security measures.
Who are eligible to use SAP MBC?
A certain set of SAP customers can move on to SAP MBC and SAP BCM. They are:
Many customers will be able to interact with different banks regularly. You can send and receive multiple files from the bank.
When you want to communicate successfully with a bank, you must establish robust communication. It is possible with SAP MBC.
Bank communication was a norm even before the introduction of SAP MBC. But bank communication was cost-effective and convenient when SAP MBC and SAP BCM Integration were introduced.
The payment program (F110 or F111) runs and allows the download of payment media files that you can upload 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 it to the bank for Payment.
Payment Scenario between non-SAP system
If payments are processed from a non-SAP system, the payment media file generated is the bank’s required (ISO 20022 XML) format and is sent for approval through the SAP BCM system.
The below flow represents a new offering for Payment Factory to implement a non-SAP payment through SAP BCM Implementation.
The accounting entries are tracked in the sources system (non-SAP), and only Payment is processed via the SAP BCM using BCM Connector.
The process steps for implementing this non-SAP Payment are as follows:
Payment Scenario between SAP system
Suppose the payments are processed in an SAP system. In that case, the payment liabilities are created in the SAP system, and the corresponding processing of these payments is also done in the SAP system with the help of SAP Bank Communication Management for workflows. The approved file is then digitally encrypted and sent to the bank. Get in touch with our experts for the finest SAP BCM Implementation services.
You can achieve the processing of SAP BCM via the scope item J60 in SAP S/4HANA Cloud.
SAP BCM can be achieved as a scope item activation when you use SAP S/4HANA Cloud. This scope item is J60 (Accounts Payable) and 1EG (Bank Integration with File Interface). The image below shows the process flow of SAP Bank Communication Management achieved through the payment program in SAP S/4HANA Cloud.
Post the payment program step, the scope item 1EG (Bank Integration with File Interface) can be used to complete the payment medium download and upload of bank statement steps.
Handle everything from Banking and treasury automation with Payment Centralization and Automated payments. With Multicash payment factory, leverage Financial services network with Bank integration, Corporate connectivity, and treasury management.
To conclude
An SAP BCM Implementation Partner in the UK, like iQuantM, enables SAP FSN Connector for the best ERP Bank Connectivity features.
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back to all SAP announced RISE with SAP earlier in 2021. The main intention of SAP in introducing RISE, SAP has been to promote flexibility and fast
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