Remembering the Various Bank Statement Upload Options​

Your end-of-day and intraday bank statements can enter the system in several ways, for example, via SAP Multi-Bank Connectivity. You can also manually upload them, for example, via the Manage Incoming Payment Files app or the Manage Bank Statements app.

Bank connectivity is vital for treasury processes to work in a straight-through hands-free fashion. Most companies deal with more than one bank and would like to connect to their banks in a simple and cost-effective manner. SAP Multi-Bank Connectivity solution is offered as an SAP Business Technology Platform app and can connect to the ECC or SAP S/4HANA system and provide the interface between the banks and the ERP system. It allows companies to integrate payment and statement processes with their SAP system and provide end-to-end visibility across the chain.

The different options to connect corporate customers and banks are as follows:

The solution is fully SWIFT certified as SWIFT L2BA provider and offers the possibility to connect to the extensive list of SWIFT banks throughout the world.

Direct Member Banks are connected via a standardized connection using bank APIs or protocols like SFTP.

In an instance where a corporate customer is required to have a direct connection to a bank that does not have a contractual agreement with SAP Multi-Bank Connectivity, SAP establishes a direct connection between the corporate customer and the non-member bank.

In case bank statements are imported through SAP Multi-Bank Connectivity, you can effectively identify the status of imported messages through the SAP Fiori app Bank Statement Monitor. The app provides an accurate overview of the processing status of all imported statement files with filter criteria offered for house bank accounts or company codes.

Discover how the app Bank Statement Monitor simplifies tracking and verifying end-of-day bank statements for enhanced financial accuracy. Learn about processing, status reconciliation, and serial number sequencing. Press the play button to learn more.

In summary, SAP Multi-Bank Connectivity allows companies to integrate payment and statement processes with their SAP system and provide end-to-end visibility across the value chain. The key benefits are:

1. Complete integration and straight-through processing of payment and statement processes
2. Visibility into various stages of the process
3. Access to information from your own SAP system without requiring logging into multiple systems
4. Automated bank messaging and processing for payments, lockbox, banks statements
5. This solution also opens doors for consuming future treasury innovations from SAP and the Banks

In case there is no direct connection via SAP Multi-Bank Connectivity, another option to upload bank statement to the SAP S/4HANA Cloud system is the SAP Fiori app Manage Incoming Payment Files. This advanced tool provides businesses with a centralized hub for a wide range of tasks, such as uploading and processing various payment file types, including lockbox, bank statements, payment rejections, and intraday statements. The strength of the platform lies in its ability to view, control, and manage all these activities seamlessly from end-to-end in a single location. By recognizing an array of formats, including the standard ISO20022 and bank-specific formats, the app adds a versatile advantage, allowing businesses to conduct their financial operations globally with relative ease.

The app fluently integrates into the overall process of cash reconciliation. Here, automation plays a pivotal role as it boosts the speed and accuracy of bank statement processing and A/R reconciliations. These enhanced operations enable pinpoint accuracy in business forecasting, superior cash flow management, and more proactive liquidity planning.

However, the function of the app extends beyond cash reconciliation. It acts as an indispensable stepping stone for other vital processes, such as cash position and liquidity analysis in SAP S/4HANA Cloud. Through its integration, it brings added transparency and better controls into financial operations, creates synergies between diverse processes, and ultimately leads to stronger compliance.

The transition to smart decision-making is also fostered through the consolidation of complex financial procedures into one accessible platform. Watch the video to see how easy it is to upload and manage the various file types in the Manage Incoming Payment Files SAP Fiori app.

Learn how to efficiently import bank statement files into your SAP S/4HANA Cloud system. Follow step-by-step instructions to upload, process, and verify statement files for financial data reconciliation. Select the play button to learn more: