PROMOS Automated Electronic Bank Statement Processing
Say goodbye to manual post processing!
In real estate practice, when posting account transactions, the SAP® standard system is frequently only able to automatically assign transactions to their corresponding contracts around 50 percent of the time. Missing zeros or delimiters in the contract number specified, the providing of old contract numbers, non-existent vendor contract interpretation and problems with SEPA abbreviations in the payment reason lead to an enormous workload for the specialist department in the form of manual post-processing. In order to automate precisely these complex cases, the PROMOS solutions contain the SAP®-integrated additional functions pattern search (central search pattern) and memory effect (decentral search pattern).
These are both enhancements designed to optimise the interpretation of the payment reason in the electronic bank statement. While pattern search structures unstructured contract numbers and interprets old contract numbers, the memory effect assigns unqualified payment reasons (e.g. “Rent for Smith”) to the correct contract numbers so that these can be posted automatically in the future.
The pattern search functionality and the memory effect significantly increase the level of automation when it comes to posting account transactions. Both enhancements relate to the customer contract search in RE classic and to the customer and vendor contract search in RE-FX.
Pattern search (decentral search pattern)
The search can determine the current contract number as well as the old contract number that was added to the SAP® contract from the previous system. The pattern search function primarily transforms unstructured contract numbers into the structure specified by the system. Simple handling allows you to reduce the processing workload as, after initial setup, your company’s own IT department can take over maintenance of the search patterns if required.
Memory effect (decentral search pattern)
In the memory effect function, you can link any character string from the payment reason to a customer or vendor target contract. If precisely this character string appears in the payment reason, the payment is posted to the target contract automatically. Integration into SAP® post-processing eliminates the need for time-consuming setup processes. The administrator adjusts the modified payment reasons and sets up the solution decentrally.
- Automated readout of returns charges: Automatic posting is also frequently a problem in the event that a bank levies returns charges. The requirement for this is that the amounts are read out of the payment reason. The PROMOS solution supports the standard with its own solution in such cases as well. The functionality also allows processing of complex payment reasons by prioritising certain key words.
- Memory effect analysis: The analysis allows the user to check his centrally specified search pattern. The displayed hit rate for a partner / house bank combination in conjunction with the assigned contract indicates which search patterns require adjustment.
Reduction of manual post-processing: Thanks to the increased hit rate when processing the electronic bank statement automatically, manual post-processing is significantly reduced.
Time savings: The high level of automation results in a noticeable time advantage for the accountant, allowing him to concentrate on his core competences.
Reduced processing effort: As part of the memory effect, accountants can assign the payment reason to the target contract themselves and save this for future postings. In addition, internal IT employees can maintain central search patterns as part of the pattern search.
- Bank accountants
- Accounts receivable accountants