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The Heart of the Company

SAP Financial Processes: AI for more Performance 

Finance departments are the backbone of a company – and they are particularly affected by the shortage of skilled professionals. When employees for accounting and financial tasks are lacking, the entire business operation can suffer. With artificial intelligence (AI) and automation, these workforce gaps can be closed while optimizing SAP financial processes.

Finance departments oversee and manage all cash flows within a company, playing a crucial role in business success and growth. It is no surprise that the increasing shortage of skilled workers can have severe consequences in the financial sector – especially since many tasks are still performed manually, as highlighted by a recent PwC survey. To avoid this challenge, companies should consistently invest in the digitalization and automation of their operational financial processes.

What are the benefits of integrating AI-powered SAP interfaces into ERP?

The SAP ecosystem offers a range of innovative cloud solutions. A seamless integration of AI-powered SAP interfaces into the ERP system provides the ideal foundation for automating time-consuming and repetitive tasks across various financial domains. This approach not only compensates for the growing labor shortage but also enhances efficiency, transparency, and accuracy in financial processes. Companies can save time and costs while significantly reducing error rates, as demonstrated by the following SAP solutions.

How does SAP Cash Application improve bank statement processing?

Manually assigning bank statement items to open invoices is a time-consuming and error-prone task. AI-powered bank statement processing addresses this challenge by leveraging machine learning (ML) to analyze historical decision patterns and convert them into a model that automatically and accurately processes future assignments.

With SAP Cash Application, a mature cloud solution is available to support this automation, significantly increasing the efficiency and accuracy of bank statement processing.
 


How can SAP Multi-Bank Connectivity (MBC) streamline bank communications?

Communicating with multiple banks is often complex and resource-intensive. SAP Multi-Bank Connectivity (MBC) simplifies payment processing by automating and centralizing communication with all banking partners worldwide. This allows finance departments to send payment files directly from the SAP system to the respective banks while streamlining the approval process within the company. The integration into the SAP S/4HANA standard provides extensive monitoring capabilities, ensuring greater transparency, security, and efficiency.
 


A similar approach applies to centralized communication with credit agencies through SAP Cloud for Credit Integration and with payment service providers via the SAP Digital Payments add-on.

How does SAP Cloud for Credit Integration help reduce payment defaults?

SAP Cloud for Credit Integration is a cloud solution that enables companies to optimize their credit management process within SAP S/4HANA. By connecting SAP Cloud for Credit Integration, businesses can retrieve up-to-date credit reports on customers from external credit agencies – such as Creditreform or Crif – directly into the SAP S/4HANA system.

When external credit ratings are imported into S/4HANA, the system automatically recalculates the internal credit assessment of customers and updates the credit limit based on predefined SAP Credit Management settings. If a customer exceeds their credit limit, the system automatically blocks goods shipments and notifies the credit department through a workflow containing all relevant information. This integrated process enables quick and precise credit assessments, reducing the risk of potential payment defaults.

How can SAP Advanced Financial Closing optimize financial close processes?

SAP Advanced Financial Closing provides an integrated solution for managing and centralizing all month-end and year-end closing activities. Companies can structure their closing tasks based on templates, ensuring a streamlined workflow from predecessor to successor tasks. The entire process becomes transparent, with automated notifications alerting users about pending tasks or errors in the financial close. By integrating SAP Advanced Financial Closing into their SAP landscape, companies can increase efficiency, minimize errors, and accelerate financial closing cycles.
 


How can XEPTUM support you in optimizing your SAP financial processes with AI?

With XEPTUM as your partner, you benefit from expert knowledge in the digitalization and automation of financial processes. Our extensive process expertise combined with in-depth knowledge of innovative, AI-powered SAP technologies enables you to optimize the quality and security of your financial processes despite the growing shortage of skilled professionals while simultaneously reducing costs. Take action now and gain a competitive advantage by enhancing the performance of your finance department. Contact us today for a tailored AI solution to optimize your SAP financial operations.