SAP Financial Services Network, never heard about this before? No wonder, the SAP Financial Services Network (short: FSN) is an all-new solution from SAP that connects corporate customers with their financial services providers in the cloud – fast, reliable and with predictable cost based on a monthly subscription fee. The network is based on SAP HANA platform technology, so you might bet on its reliability and speed. More on SAP Financial Services Network here.
The background: Market trends and challenges for the corporate treasury
Today, the corporate treasury has to meet tough challenges in an uncertain environment of financial crisis, globalization and upcoming changes in regulations such as SEPA, Global ISO20022 or EMIR. Customers are responding to some of these key challenges and deploy SAP technology end-to-end as they restructure their processes. SAP’s strategic focus areas – applications, analytics, cloud, mobile and database - are directly applicable to these needs in treasury. SAP cash forecasting on HANA delivers an additional opportunity by handling huge data volumes super-fast, enabling new insights and analysis.
The challenge: Corporate to Bank relationships
One specific challenge in treasury is the banking relationship. The typical multibank relationship is complex - technically as well as operationally - and the implementation is costly. Payment integration requires broker cost and expertise, proprietary bank formats often lead to manual uploads and conversion steps. All this leads to poor cash management, imperfect remittance information costly payment rejections and manual reconciliations.
The solution: SAP Financial Services Network
To respond to these market needs, SAP launched the SAP Financial Services Network (short: FSN) in March 2013, an innovative on-demand solution that connects banks and other financial institutes with their corporate customers on a secure network owned and managed by SAP. The network offers multiple services over one single channel while supporting the deployment of new ones. As key benefits, the solution automates financial transactions, reduces payment rejection rates, eases reconciliation and provides enhanced visibility to corporate treasury. Or, in a nutshell: The SAP Financial Services Network helps banks and their corporate customers streamline key processes and manage and maintain their banking landscapes.
Getting curious? Get connected with FSN at SAPPHIRE NOW
If you are visiting SAPPHIRE NOW on Orlando, don’t miss the chance to get connected with the Financial Services Network. Representatives from FSN solution management will be available for you throughout the event at the Business Network Campus expert table BN210.
Here are the FSN highlights at SAPPHIRE NOW for you:
Time | Title | Description | Location |
Tuesday, May 14th |
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10:30 – 12:00 | Visa Meet Our Customer Sessions | Visa will be available to discuss how to integrate Electronic Accounts Payable/Virtual Purchase Cards over SAP FSN with Visa. Three half hour sessions will be held within this time slot. | Meet Our Customers Pavilion |
02:00 – 02:30 | Get Stories from the Front Line: The Business Network in Action
Panel Discussion
ID 24760 | Learn how SAP customers, like Citi and others, are using business networks to address their industry-specific needs around consumer products, manufacturing, and more.
A business networks panel discussion with Rene Schuurman, Director and Global Product Manager Connectivity of Citi, participating. | Business Network Campus
Business Network & Cloud Theater |
02:00 – 02:20 | Build a Financial Supply Chain Network for the Future Demo Theater Session
ID 27255 | Explore how corporate treasury and accounts payable and receivable activity can be delivered across the network in a way that can allow better payment and risk management, fast time to market in connecting to new financial service providers, and the analytic base for the future. See how the SAP Financial Services Network can help it happen.
A discussion led by Bala Ram, VP, SAP Financial Services Network. | Business Network Campus
Demo Theater
BN216 |
03:00 – 03:45 | Find Out What the Future Holds for Financial Service Providers
Microforum Discussion
ID 27252 | This discussion covers how payments, bank information, master data synchronization, and virtual card services are accommodated across networks. Hear the vision of how SAP Financial Services Network can link with business processes and networks within an ecosystem.
A roundtable discussion hosted by Sanjay Chikarmane, SVP & GM SAP Labs with Noritoshi Murakami, Chief Manager, Business Development eBusiness and IT Initiatives Division of Bank of Tokyo Mitsubishi and Rene Schuurman, Director and Global Product Manager Connectivity of Citi | Business Network Campus
BN204 |
Wednesday, May 15th |
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11:00 – 11:45 | Transform Financial Services: Find Your Competitive Edge Forum Keynote
ID 94382 | Discover how your financial services organization can transform itself. Hear from SAP and financial services executives on how your company can gain a competitive advantage while enabling strategic growth. Explore ways SAP solutions can foster innovation and help your financial services organization cement commitments to customer centricity. Visa’s use of SAP FSN will be among the solutions showcased. | Forum B Theater |
01:45 – 02:45 | Embracing Electronic Accounts Payable for Payments: How VISA is Using the SAP Financial Services Net... Education Session
ID 3707 | Industry estimates suggest that as much as 30% of B2B check payments can be converted into electronic accounts payable (EAP), sometimes called virtual card accounts.
VISA will explain how it plans to use the SAP Financial Services Network to help enable companies to use their EAP or virtual card solution while keeping the standard processes.
David Henstock, Senior Business Leader, Global Commercial Solutions, Visa Inc. will co-present with Leonard Schwartz, Director, SAP Financial Services. | S310C:
S. Concourse, L3 |
03:30 – 03:50 | Build a Financial Supply Chain Network for the Future Demo Theater Session
ID 27255 | Explore how corporate treasury and accounts payable and receivable activity can be delivered across the network in a way that can allow better payment and risk management, fast time to market in connecting to new financial service providers, and the analytic base for the future. See how the SAP Financial Services Network can help it happen.
A discussion led by Bala Ram, VP, SAP Financial Services Network. | Business Network Campus
Demo Theater
BN216 |
4:00 – 5:00 | Electronic Accounts Payable Using the FSN Expert Table | An Informal Discussion with Visa Inc. and the SAP Financial Services Network. | Business Network Campus
BN210 |
Thursday, May 16th |
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01:00 – 02:00 | Electronic Accounts Payable Using the FSN Expert Table | An Informal Discussion with Visa Inc. and the SAP Financial Services Network. | Business Network Campus
BN210 |
04:15 – 05:15 | Integrating Your Treasury & Payments to Banks is Now a Snap: How Bank of America Merrill Lynch Can W... Education Session
ID 1914 | Two of the key challenges facing companies today are integrating banks into the AP/AR and treasury systems and gaining rapid, intelligent information for managing the financial supply chain.
SAP will describe how a corporation can benefit from SAP FSN, and Bank of America Merrill Lynch will explain how they can use SAP FSN to add value in their corporate relationships.
Tom Durkin, eCommerce Channel Executive at Bank of America Merrill Lynch will co-present with Leonard Schwartz, Director, SAP Financial Services Network. | S310A:
S. Concourse, L3 |
