FS² AutoBank

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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

Product/Service details

SOLUTION TYPE
Geographic Availability
Africa, Asia-Pacific, Caribbean, Central America, Europe, Middle East, North America, South America