With SEPA, the new XML formats for European payments are mandatory as of 1 February 2014. The trend towards harmonisation continues, and countries participating in SEPA are also working towards standardised formats for bank statements, remittance advices, etc. These formats are not (yet) mandatory, but standardised formats bring about many benefits. You can already use the new cash management (camt) formats and increase the efficiency of your reconciliation processes for account statement data.
With the Account Statement Manager Hanse Orga has developed a new solution with which you can quickly meet the new requirements when processing these XML formats (camt.053*, camt.054*). As each bank has their own planning for supporting the new XML reporting it is important to support multiple formats in parallel. This allows organisations to benefit from the best available information provided by the banks.
The Account Statement Manager provides functions integrated in SAP with which you can process the new XML formats for account statements efficiently. A whole range of validation routines are embedded to ensure that the information imported into SAP is correct, complete and on time. Validations routines include duplicate checks, statement numbers, matching closing and opening balances and so on. The enrichment feature enables you to massage the information such that information can automatically interpreted by SAP or other systems. The splitting and reformatting capabilities compliment the solution. This allows you, for example, to provide the corresponding current bank statement items to your subsidiaries each day. You can also automatically assign bank statement information by company codes, accounts, companies, etc. For the further processing of camt formats it is possible to convert them to MT940 file formats.
Are you interested in the new solution for account statement processing? Then, contact us today. We would be happy to discuss these advanced functionalities with you.