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Most of the small and midsized companies have already given up traditional methods of banking transactions and chose online Internet banking methods, or local applications installed on users’ computers (eg: MultiCash from BRD). The popularity of Internet banking has increased significantly due to the improvment of security methods, reducing time spent and greater control over finances.

The process that works in majority of companies from Romania, is redundant, time-consuming and with big chance of errors:

  1.   Receive an invoice from a vendor (paper, PDF).
  2.   Define the supplier into the ERP system if it is not already created (name, tax number, bank details etc).
  3.   Enter manually the invoice from the supplier in the ERP system (or accounting).
  4.   Weekly (or ad hoc), based on invoices (taken from a report from the system), enter in Internet banking or bank application manually, orders payment to the supplier (if the supplier is not created in the system, it creates again with the name, tax number, bank details etc).
  5.   At the end of each day, the bank statement is taken (for the previous day) and introduced both receipts and payments manually in the ERP system based on invoices from the system.

ERP systems are designed to ease users work and reduce time spent with data management and analysis. A module of integration between ERP and Internet Banking/MultiCash could allow the export of payments recorded in the system towards upload files for Internet banking and downloaded statements for  ERP system validation.

SAP Business One ERP, dedicated to small, midsized companies and subsidiaries, developed by the world leader in IT solutions, SAP, provides a bank integration module that eliminates unnecessary steps of the banking process. This module allows:

  1.     Weekly exporting (or ad hoc) of invoices (and reversals): total or partial in payment files (in any currency).
  2.     Internet Banking direct loading of payment files.
  3.     Download the statements also in electronic format nd automatically upload in ERP system.

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