Did you know that ... (Payment Optimization)

In our regular newsletter column we are this time introducing you to an optional function of FinanceSuite Payment Management which can help customers further enhance their payments processes: Payment Optimization.

Did you know that the Payment Optimization...

  • allows central control and monitoring of all cash flows in your organization,
  • reduces the workload for the internal administration,
  • reduces the need for decentralized electronic banking tools,
  • allows standardized processes and security standards,
  • offers a high degree of flexibility and can thus be adapted exactly to the requirements of any organization,
  • supports the set-up of a Payment Factory,
  • allows the generation of "on behalf of" payments,
  • can create a direct connection to in-house bank and cash management,
  • optimizes cash flows based on criteria such as paying bank, format, payment type, costs negotiated with banks,
  • can cover all payment formats using its own meta structure and Conversion Engine,
  • and is thus ideal for organizations with multiple (international) subsidiaries,
  • allows users to customize the settings of the software themselves based on rules, which means no programming in SAP is necessary,
  • provides many helpful functions:

              - validation, correction and, if necessary, enrichment of incomplete or erroneous payments from feeder systems based on individually defined criteria,
              - user-defined access for the administration of criteria and rules,
              - rerouting of payments,
              - subsequent correction of payments already posted in SAP,
              - bundling payments to one vendor,
              - and more.

You want to know whether Payment Optimization is an option for your organization? Contact us, we will be happy to show you how you could streamline your processes with this optional feature.