Overview
Increase Automatic Reconciliation Rates and Drive Constant Improvements
FS² AutoBank is an SAP-integrated solution that automates and optimizes the cash application process via an intelligent reconciliation logic for bank statements, remittance advices, and lockbox information embedded smart manual post-processing capabilities. The solution unlocks efficiencies in the process of automatic clearing of open items: cash posting rates are increased to 80-95% with peaks at 98%. Posting rules and filters are easy to set-up and modify by the finance department without IT support, delivering efficiency gains instantly. DSO can be reduced by 50% with the solution.
FS² AutoBank is certified by SAP for its integration with SAP S/4HANA and also works with previous SAP systems like ECC. It can be combined with FS² Credit and FS² Collections to integratd the order-to-cash cycle from end to end.
Key Features
- Automatic processing of bank statements, remittance advices, lockbox
- Flexibly customizable matching and posting rules
- Intelligent search functions to match open items:
- Main rules and sub rules
- Conversion table
- Sending bank details
- Dispute workflow
- Performance cockpit: analyzes and monitoring of matching processes
- Reporting
- Certified integration with SAP S/4HANA and works with ECC
Key Benefits
- Increase of automatic assignment rates by 80-95% with peaks at 98%
- Reduction of manual post-processing of unmatched items
- Reduction of DSO by 50%
- Automatic posting (debit-side, credit-side, G/L transactions) in SAP
- Complete overview of electronic bank transactions in real time
- Improves Straight-Through Processing
- Easy to monitor and manage entire reconciliation process
- Excellent tool also for Shared Service Centers and Collection Factories