Payments that are to be initiated are grouped together in a payment run and these batches are triggered for workflows. SAP BCM monitors both the incoming and outgoing workflows to track the cash flow within an organization. Therefore, the banking process is streamlined with Fiori reports for a clear communication with the bank.
The payment program (F110 or F111) runs and allows the download of payment media file that can be uploaded and to an intermediate system which helps in the transmission of the payment file to and from the bank. This payment file generated is in the bank’s required format (MT100 or ISO 20022 XML). This process also allows encryption of the payment file before transmitting to the bank for payment.
SAP Bank Communication Management has the following benefits