Cash Management Process Map
With accounts receivable, you manage open receivables invoices that are automatically created from sales processes. Several analytical tools are available to monitor the receivables, allowing you to react quickly if you discover a declining payment discipline among your customers. You can easily create dunning letters for overdue positions and follow the dunning history of your customers.
Receivables management covers automation with various aspects.
- The entire order to cash process benefits from automated processes, such as automated dispute processing
- Embedded analytical apps allow easy access to relevant key figures across the entire process chain
- Additional cloud-based SCP extensions allow to flexibly react to changed business needs and quickly scale up or down according to the individual needs
External Customer Payments
SAP digital payments add-on is a cloud service that allows companies to process incoming credit card and other real-time payment methods in a secure and efficient way. This helps to significantly reduce cash reconciliation efforts for all companies running any variant of SAP order/sale-to-cash processes, (B2B, B2C, POS, web shops, and so on), who need to offer their customers flexibility and access to multiple digital payment methods.
This scope item enables the external payment method, which can be used with the help of external billing systems. The payment can be triggered via an external billing system and is processed by the External Digital Payments (2LZ) scope item.
Why should your company invest in integrating digital payment methods with SAP digital payments?
- Automation - spend less time doing the manual reconciliation regarding digital payment methods and make use of automated splitting and posting of fees and taxes.
- Compliance - Keep sensitive payment method data out of your system with a tokenization approach.
- Integration - SAP digital payments is aligned with SAP roadmaps and integrated into your business process flows.
- Reduce TCO - It's future-proof, as new methods mature, SAP will integrate them. As formats change, SAP will do the operational updates. This is a SaaS product with no additional hardware, maintenance or operations costs.