Managing credits and debits, sending bills, paying bills, analyzing cash flows, monitoring a wide range of banking operation internal, and external might be more of an issue for some companies to manage even though they have to face them daily. Because of this, and the aim to allow the staff to dedicate more of their time to the core business, that was created a new Financial Supply Chain Management SAP software. What is it? Technis Blu, SAP Gold Partner, deepen this in the following article.
What is SAP Financial Supply Chain Management?
SAP Financial Supply Chain Management is the best business management software available in the market for what concerns the financial side of a company, both big and small sized companies. The objective for what has been projected is to optimize informative and financial flows within a company. The software allows to:
- Forecast cash flows every time;
- Reduce working capital and expenses for operations;
- Increase promptness of payments and consequently the sensation of reliability offered by the company.
- Integrate each financial aspect within business processes, allowing each department to co-ordinate in complete autonomy payments and bills, always with the support of a specific management.
What activities can be conducted through SAP Financial Supply Management?
SAP Financial Supply Chain Management divides in different components that analyses and co-ordinate each single financial aspect.
Through pre-set ratings, the management is able to rate financial behaviours of each commercial partner of your company. All starts from the consciousness that creditworthiness from partners has a particular influence on the business so, it is important to determine promptly the risk of losses on credits.
Thanks to the integration of SAP Financial Supply Chain Management with other managements (such as, related to logistics or sales department) is possible to realize specific reports for each partner, examining not only the payments, but also the behaviour over time getting to the right business decisions.
SAP meets business needs regarding electronic billing, offering, thanks to the Financial Supply Chain Management, a service of direct billing thought a link or an attached e-mail file. The client, consequently, has the chance to have constantly business Data under hand therefore, being able to pay promptly and efficiently.
This SAP Financial Supply Chain Management component is used to monitor constantly the cash flows allowing your company to show a positive cash flow to make the mandatory payments.
The first SAP objective is to avoid each type of controversy with the commercial partners or with clients. Anyway, when these happen, is necessary to face them with adequate software: SAP Financial Supply Chain Management, realizes deep investigations to elaborate controversy. Particularly this module is useful when:
- In a company there are not enough payments
- Payments elaboration times are extremely long.
- The company is complex and needs a tool to manage inflows and outflows payments.
The so called ‘collection strategy’ within the SAP Financial Supply Chain Management allows to assess what priority to give to clients when it comes to managing credits. This is the most efficient and evolved way to collect credits and document, step-by-step, different contacts and solicits sent to each single customer.
Risk and treasury management
Financial transactions, mostly for big companies, represent an important aspect for the business. Because of this, the risk and treasury management SAP component gives to your company all the efficient tools to co-ordinate in the best way each financial aspect to obtain specific forecasts to eventually study the presence of financial risks.
Internal and external payment operations
This SAP Financial Supply Chain Management component allows elaborating internal and external payment transactions and it is ideal for those companies who have a central headquarter and various company’s branches.
Within the article we have examined how SAP Financial Supply Chain Management works, this management software allows to co-ordinate efficiently each financial activity either internal or external to the company. Thanks to some specific components for the different situations, that the firm has to face (credit, risk, treasury, and banking operations management; liquidity analysis and direct billing) is possible to optimize financial flows.
If you wish to deepen your knowledge about SAP Financial Supply Chain Management, contact Technis Blu team: our SAP functional analysts will know how to answer your questions and show how, in the everyday business life, a software for the Financial Supply Chain Management can be so fundamental.