The introduction of FS2 marks a new milestone in the development of the FinanceSuite software family. Besides the new overall highlights like Fiori, SAP S/4HANA or Business Intelligence there have also been enhancements in the set of features of all software modules. Please find below a short overview over the most significant developments by module. For further details, please feel free to contact your account manager for a free demo.
FinanceSuite AutoBank Automatic Cash Application
The new feature for the verification of partner remittance advices will accelerate the matching process of accounts receivable even further. Disputes can now be resolved even before the payment is effected. It is audit-proof and reduces the cash conversion cycle. AutoBank enables searches in bank statements, remittance advices, lockboxes and posting data. The research information can now be archived and will be accessible for future reference.
Integrated remittance advices can now be automatically processed for lockbox data. Additionally, the new “ValidationCockpit” enables an optimized end-to-end process and will lead to higher rates within the automatic posting. Consequently, the overall processing time will be reduced.
Outlook FS2 AutoBank
Rapid Deployment is a key word for the new FS2 AutoBank. This involves the new features SmartMaintenance and SmartConnect. SmartMaintenance ensures that rules can be maintained in just one transaction. Maintaining AutoBank master data is simplified and preset rules enable rapid deployment.
FinanceSuite Account Statement Manager
The product update will deliver a connection of the Account Statement Manager to the FinanceSuite Master Data and enables the consolidation of the master data. The Account Statement Manager will interact with other the FinanceSuite modules Payment Management, Treasury Management, and Cash & Liquidity Management. The conversion of formats will be further enhanced with automated conversion using mappings and selection of data via master data, among others. The monitoring of account statements is improved further.
Outlook FS2 AccountStatement
All features will be available also in FS2 and will be complemented by the new Fiori user experience, and business intelligence reporting tools.
FinanceSuite Cash & Liquidity Management
The new version includes the optimization of the Cash Position Worksheet by enabling individual group structures. Bank statements can be directly imported via the FinanceSuite Account Statement Manager, and weekly payment dates can be automatically considered in planning. Automated reports can be sent via e-mail, to name but a few new features.
Outlook FS2 CashLiquidity
Beyond the proven and new features, FS2 CashLiquidity will provide all important KPIs at a glance so that users will see immediately where action needs to be taken. Users can set the Fiori apps that are important to them and reach the desired application with one click.
The update integrates a CEC bridge enabling the import of bank fees statements. Digitized signatures will be supported so that serial letters can be automatically populated. There will be an interface for the quick and secure download and import of CSV files and FinanceSuite eBAM will provide a consolidated view and reporting for mandates based on individually selectable criteria.
Outlook FS2 eBAM
Beyond the Fiori and business intelligence reporting, the new FS2 eBAM will also enable bank fee benchmarking, real-time reporting on how much you spend on banks, cost reductions due to optimising your bank rate cards, and the automatic population of RFP forms.
FinanceSuite Payment Management
New features of the FinanceSuite Payment Management include the management and monitoring of checks, the encryption of sensitive data by source, and the smartcard and the signature certificate for functional approvals. New features have been added to the optional component Payment Optimization and include among others control fields and encryption functions as well as the re-opening of cleared items! So, if single positions are rejected, they can be re-opened with the payment optimization feature of the module and reversed, which provides customers will greater power over their payments and enables them to make corrections where needed.
As EBICS is now fully operational also in Switzerland, the corresponding features have been integrated within the FinanceSuite Payment Management. The SWIFT FileAct Companion File has been adapted so that it can now be filled with the tag <TtlNbOfTxs> so that a settlement “per item” can be performed with SWIFT.
Outlook FS2 Payments
Payment statistics and monitoring are significantly enhanced and simplified in FS2 Payments. Users can individually configure their dashboards with Fiori apps to have an immediate overview of payment files sent on that day, payment statistics, payments in approval, erroneous payments et al.
FinanceSuite Treasury Management
A highlight in the new FinanceSuite Treasury Management is the FX exposure management. For businesses with international operations, FX hedging of cash flows is key to avoiding sharp swings in earnings. With an interactive FX Interactive Worksheet companies can maintain an overview of FX exposure and act in a timely manner to manage exposures most effectively.
Outlook FS2 Treasury
FS2 Treasury helps treasurers maintain control over all treasury transactions. Important KPIs are immediately visible on the individually configurable dashboard, and include among others maturity schedules for financial transactions, line/limit utilization, income from transactions (p & l), positions and their development, as well as outstanding approvals.