With the latest product update 5.1.3 of its FinanceSuite AutoBank Automatic Cash Application Hanse Orga will release new features that will enable the automatic processing of intraday statements in the formats MT942 and camt.052.
These new functionalities are particularly important, as an increasing number of companies is faced with the challenge of assigning accounts receivable to the debtor account ever more rapidly. On the one hand, this is necessary as subsequent processes (for example, delivery of goods only after receipt of payment) depend on that information. On the other hand, reducing DSO plays an increasingly important role for companies.
Now, payment information can be instantly processed and posted to account so that open items on the customers‘ accounts can be reconciled even before the regular bank statement arrives. In order to process the payment information, the intraday statements are first converted into regular bank statements. Prequisite for this is the FinanceSuite Account Statement Manager. The further processing of the converted statements is then done by the bank statement processing feature of the FinanceSuite AutoBank Automatic Cash Application. With new features in the version 5.1.3 of the software, the reconciliation with the bank statements that are provided by the banks later is enabled. Matching postings between the items from the intraday data and from the bank statements are made automatically and ensure that double postings are avoided. Via a monitor, the users can track and control the processes and data involved.
“With this new release we create an important basis for companies to further optimize their accounts receivable process. The real-time processing of intraday statements facilitates a much faster target account assignment with positive effects for the accounts receivable management and the supply chain management”, says Ralf Irentschiuk, Multi-Product Manager at Hanse Orga.