Building a better SAP® payment process

Compliance issues, payment rejections and repairs, and the manual research necessary to reconcile payment orders and electronic bank statements can contribute to higher processing costs and lower productivity. These challenges persist despite a wealth of powerful financial processing capabilities available to companies deploying SAP.

Corporate payments professionals are under increased pressure to meet service level agreements for payments and improve customer value. Firms must contend with inefficient, fragmented processes and policies that result from maintaining multiple banking relationships.

The key to managing these issues within SAP lies in securing the right banking data while ensuring access to the relevant information when needed. Without this, payments can grind to a halt, costing thousands of dollars in repair fees, staffing hours and lost or delayed vendor services.

Find out key considerations on leveraging banking reference data to increase payments efficiency, optimise cost effectiveness and contribute measurable business performance impact at the enterprise level.

Click here to explore this SAP Whitepaper by LexisNexis® Risk Solutions..