Calculator will enable corporates to realise cost savings resulting from incorrect payment data to improve workflow
Accuity, the global standard for payment efficiency and compliance solutions, releases its Cost Calculator to assist corporates deploying SAP and highlight how small costs can accumulate and lead to significant business risk further down the line.
With companies rarely using one bank, managing more than one process at a time can be a constant challenge, especially if they have a requirement to be compliant with new legislation, such as the European Payment Council’s SEPA directive. Complications can generate unnecessary inefficiencies and costs, and result in vast sums of money lost. Companies therefore need the best payments data to be easily accessible to them at any given time. The Accuity Cost Calculator will enable corporates to enter their own figures to discover the minimum hidden costs they can expect to face, and improve the efficiency of the whole payments process in a number of ways:
Improvements to the master data process: Accuity will automatically populate the system with the most up-to-date and new information available from global banks, improving efficiency and streamlining the process
Time-saving by removing the unnecessary manual process of inputting and maintaining up-to-date data in the system
Cost-savings for companies, allowing the SAP community to enter their own figures to discover minimal hidden costs, that can be expected as a result of broken payments, including bank fees and repair costs, additional staffing costs required to investigate payment rejection, and bank record maintenance
“A corporate deploying SAP but failing to optimise bank master tables with correct and up-to-date information may encounter payment failures. We have created the Cost Calculator to help users identify some of the potential hidden costs in their organisation and to minimise disruption to the workflow. By allowing companies to input their own figures, this calculator shows first-hand the importance of not falling behind with new legislation such as SEPA. These hidden costs are but one component to the overall costs that an organisation can experience, where there can be lost opportunity costs as a result of payment disruption”, said Sarkis Akmakjian, Director of Product Management at Accuity. “This product highlights what we can offer for the SAP community, and enables customers to realise the benefits of accessing data that they would not get from other providers.”
Accuity will offer consultancy for corporate treasury professionals to ensure the best possible use of the SAP payment process. Accuity data is input into the SAP system automatically and cleaned up to ensure that the process is as streamlined and efficient as possible.