invenio
business solutions
Delivering Control:
Invenio Financial Solutions
Bank Communication Management
Bank Communication Management
Enhance payment communication with multiple
banks while increasing control.
As with anything online, sending and receiving payments has a few
risks associated with it and for businesses, most of those come
down to communication with banks.
Every organisation that takes electronic payment has to
communicate with a multitude of banks, usually in the form of
approving and releasing payments, communications and other
treasury based functions. Many businesses are still performing this
process on a case by case basis, which involved a high level of
manual processing, productivity loss and excessive exception
handling when things don’t work as they should.
Common Bank Communication Problems
◦ High level of manual processing
◦ Productivity loss and excessive exception handling
◦ High maintenance costs due to deploying several different
bank communication interfaces
◦ Security gaps during payment file transfers
◦ Significant risk of data theft and financial loss
◦ Slow identification of errors
How the Solution Works
Working with the vast range of functionality within SAP systems, Invenio have created a fully integrated
and automated end-to-end payment and banking solution which is highly flexible to company
requirements, no matter which banks they work with.
The module – called SAP Bank Communication Management (or BCM) – is a sub-module of the
financial supply chain management module and offers a variety of key functionalities to solve bank
communication problems.
The Features
◦ Payment Merging for automatic merging of payment runs from across the business
providing singular central reporting. This allows for complete visibility of all outgoing payments
in real-time
◦ Payment Grouping designed to group payments into different batches based on unique
business design rules
◦ Electronic Approvals based on pre-defined business parameters
◦ Increased Security at each stage with digital signatures, file encryption and payment
status acknowledgements
◦ Electronic and Automatic Payment Transfers will enable automatic transfers within a
secured communication channel using SAP PO as the middleware system
◦ Employee Salary Payments can be initiated through the SAP HCM module which is fully
integrated with SAP BCM
◦ Detailed Reporting at a granular level for clear visibility of electronic payments and
reconciliation
◦ Mobile Payment Approvals allowing for approvals anytime, anywhere
Solution Overview
✓ Optimise payment approvals
✓ Lower maintenance costs
✓ Monitor communication at every level
✓ Faster payments
✓ Automation of bank communications
✓ Increased transparency
Why work with Invenio
Invenio Business Solutions is a UK based SAP
Gold Partner with a global footprint. Since 2006
we have been developing solutions for global
companies to use their SAP investment to their full
advantage with solutions that drive value and
outstanding results.
Our financial solutions have been developed by
our consultants through working with companies
such as Universal Music Group, Penguin Random
House, Ministry of Finance and Treasury Maldives
and Concordia International to refine their financial
processes
according
to
their
unique
requirements.
Built on SAP, the Invenio Financial Solutions have
been adapted to offer companies greater control
over their financial processes, improve
communication with banks, better financial
management for international enterprises,
improve accuracy, reduce manual efforts and
create transparency across all processes.
Contact:
Invenio Business Solutions
125 Wharfedale Road
IQ Winnersh, Reading
RG41 5RB
UK
Tel. +44 (0) 330 440 1800
Email. info@invenio-solutions.com
Website: www.invenio-solutions.com