How many issues can I have in receivables management?
Let me count the ways.
I find my information is incomplete,
Making it difficult for deadlines to meet.
My customers make errors on the discounts they take,
Leaving me with hundreds of phone calls to make.
Or they pay their invoices in one lump sum,
To go through those details makes my brain numb.
And then customers use a different exchange rate,
Requiring even more time to get it straight.
Well, to turn this scenario into a love poem instead:
Enter SAP Cash Application
Finance organizations have changed dramatically, shifting from looking backwards for financial statements, to helping define the company’s strategic direction via forward-looking insights. And technology is making that possible by automating repetitive transactional tasks to make finance more efficient. For example, with SAP Cash Application that leverages the machine learning engine in SAP Leonardo, you can dramatically cut the time to apply cash to receivables, and actions on exceptions are learned and applied to future transactions. In addition, machine learning can also help you with identifying potential fraud scenarios to allow you to take mitigating actions. And it works with both on-premise and Cloud versions of SAP S/4HANA.
So our love letter now looks like this:
How many ways does SAP Cash App help me?
Let me count the ways.
SAP Cash Application is my intelligent friend,
It learns from my history plus how I handle transactions at hand.
I don’t need to spend time to define its rules.
It learns just like I – as a human – would do.
My Cash App will clear items with bank statements and lockbox,
So I spend much less time on reconciliation and roadblocks.
And with information such as payment remittance advice,
I can now look at unstructured data and be much more precise.
In short, benefits of SAP Cash Application to your organization help you through::
- Increased efficiency and reduced errors in the finance department, enabling finance to work on strategic tasks
- Reduced DSO by processing incoming payments faster, to increase liquidity and improve customer service
- Reduced TCO by learning from accountant behavior to start working immediately, while continuously adapting, therefore not requiring on-going maintenance
- Improved scalability of your business, including shared services, as transaction volumes grow
- Integration with SAP S/4HANA Cloud and On-premises to extract the value in your historical data, allowing you to maintain your current processing workflow
Watch an Overview
For a quick look, watch the following video:
For more Information
If you are attending SapphireNOW, check out the following sessions and demo pods/topic stations:
- Demo Theater: Automate Global Business Services with Intelligent ERP
BA59179, 6/7, 13:30 p.m. – 13:50 p.m.
- Demo Theater: Turbocharge Lockbox Processing with Machine Learning-Based Cash Application
BA60690, 6/6, 14:00 p.m. – 14:20 p.m.
- Interactive Session: Explore How Machine Learning Is Changing the Life of a CFO
BA59174, 6/6, 11:30 a.m. – 12:10 p.m.
- Topic Station: Intelligent Cost Control and Tax
- Topic Station: • Intelligent Finance Applications
For additional information, please visit:
- SAP Cash Application: https://www.sap.com/products/cash-application.html
- Machine Learning at SAP: sap.com/ml
- SAP solutions for Finance: sap.com/finance