Leverage Bank Account Management for Payment Signatories based Payment Approvals
In today’s global and dynamic business environment, treasury departments are faced with the daunting task of managing and controlling large sets of bank accounts across diverse geographies. Some of the challenges include maintaining optimum bank structure, managing large portfolios of bank accounts and signatories, and maintaining relationships with banks. Applying the right degree of automation as well as simplifying processes is essential, according to the author of this article, Chirag Chokshi, in order to enhance efficiency.
To help the treasury department align business processes and provide control to process owners, SAP has revamped its cash & liquidity management functionality with the advent of SAP S/4HANA. Organizations that take advantage of this functionality can increase the efficiency of their payment approval process. This article explains the requisite configuration and house bank account master data needed for the Bank Relationship Management signatory-based payment approval process.
Read this article to be able to:
- Simplify the payment approval process in an SAP S/4HANA environment using SAP Fiori;
- Understand a step-by-step configuration to implement the bank account management module in SAP S/4HANA; and
- Receive an explanation of house bank master data.