SAP Financial Services Network is a new innovative on-demand solution that connects financial institutions and
other financial service providers with their corporate customers on a secure network owned and managed by SAP.
The network offers multi-bank and multi-corporate routing as well as multi-format documents.
Fast Tracking Corporate Connectivity
With SAP Business Suite Integration for SAP Financial Services Network rapid-deployment solution SAP has a packaged offering to quickly connect a corporate’s SAP Business Suite system to SAP Financial Services Network providing pre-configured content for the payment process.
The best practices solution scope covers connectivity for:
- Payment initiation and bank statements integration
- Payment status and approvals with Bank Communication Management (BCM)
The core service offers includes payment initiation and bank statement Integration based on FSN Connector for a three-tier system, and can be implemented within 6 weeks. Additionally, the service adds an optional service offering, that enables, Bank Communication Management (BCM) integration for payment status updates and approvals based on FSN connector for a three-tier system.
Okay, what’s the value?
SAPBusiness Suite Integration for SAP Financial Services Network rapid-deployment solution gets corporates connected within six weeks to transact with their financial institutions or service providers. This provides faster reaction time to connect to multiple banks and automate their complete payment processing.This in turn reduces the overall cost of doing business via single integration point and standardized technology.