SAP has addressed a common problem for chief financial officers that necessitates hopping from application to application to manage enterprise cash flows.
The SAP Cash Management applications is powered by SAP HANA, and delivers drill-down analysis into global bank balances and cash positions in real time, thus, says SAP, simplifying the work of finance professionals. The application removes the need for ‘system-hopping’ by facilitating dynamic liquidity forecasting, including cash flow analysis, and enabling treasurers to take immediate action with integrated bank account management.
“Managing cash flow is a matter of confidence and trust,” said Thack Brown, general manager and global head of Line-of-Business Finance, SAP. “With the launch of SAP Cash Management powered by SAP HANA, SAP shows the importance of real-time insight and intuitive design in a very sensitive area of finance. This application is part of an important, integrated set of treasury applications from SAP, wherein we deliver immediate in-memory-driven insight to the discerning CFO.”
The company said that it is building upon previous releases, such as SAP Simple Finance, which uses SAP Cloud to provide flexible capabilities to finance departments, and the new application integrates all treasury data on one platform.
The vendor said that Cash Management can be implemented as a component of SAP Simple Finance, either on premise or in the cloud.
A key feature of the application is centralised cash management. It monitors incoming bank statements and prepares a daily forecast of cash receipts, disbursements and expected closing balances, eliminating the need for batch reporting. The system continuously oversees bank risk while initiating bank transfers and payments and approving and monitoring payments, simplifying dozens of processes at once.
There is also centralised bank account management and liquidity forecasting, as it manages bank accounts from a single integrated platform, maintaining the approval process for bank account opening, adjustment and closing, and providing navigation to cash position and bank statement monitoring reports. In addition, a planned update for liquidity forecasting is aimed to extend to integration of operational data and the availability of tools for optimising cash investment and borrowing while safeguarding company liquidity.
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