Accuity, a leading global provider of financial data for over 175 years, will attend the International SAP Conference for Treasury Management on July 6-8th 2015 in Vienna. Addressing the corporate treasury audience, Accuity will present its comprehensive payment resources and solutions for SAP systems to increase payment efficiency.
Accuity understands that corporate treasury professionals face a greater set of challenges more than ever before requiring access to the highest quality payments data to drive complex accounting, financial supply chain, treasury and managerial accounting functions.
Maintaining a correct and up-to-date bank master can require considerable effort, especially the case for organisations using ERP systems which need to maintain multiple master data sets needed for many core functions across the enterprise.
Regardless of how many payments going through different systems every day, ensuring timely and accurate payments is critical for maintaining cost effectiveness, reputation and process excellence.
“Dealing with complex payment requirements in markets like China and Russia can result in high processing costs due to payment rejections and repairs. Because of this, it is important to maintain bank master data in multiple languages to address these complexities.” said Sarkis Akmakjian, Senior Director, Product Management at Accuity.
Accuity’s Global Payment File™-Local Language Supplement provides Accuity’s global payments data in multiple languages, such as in simplified Chinese characters and Russian Cyrillic. Using this data allows organisations to take advantage of more cost-effective local clearing where payment instructions need to be in the local language.
Accuity’s Bank Master Update Program for SAP® systems allows easy and efficient deployment of financial institution reference data. This program allows users to maintain bank data in multiple languages in SAP. With both standard and local language bank data loaded in SAP, organisations can execute payment instructions for both cross-border and domestic payments, obtaining the specific version of the bank data required for the particular payment type.
As the official registrar of American Association (ABA) Routing Numbers and official provider of both the European Banking authority (EBA Priority Payments Scheme central registry and the European Payments Council (EPC) SEPA adherence database, Accuity maintains the most authoritative and comprehensive payment databases globally. As a result, Accuity provides all the necessary payment routing data required to ensure that payment messages are created with complete and up-to-date information.
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