International Payment Management

File format maintenance

When you need a new format, it’s as simple as copying an existing one and tailoring it to meet the specific requirements of your bank. Map variables or fixed values to the correct fields in the XML structure to ensure the resulting XML file contains the desired data. Assign the format name to the formatting report, and you’re ready to generate the XML file.

Optionally, save file formats to a central repository and restore them in any environment. This will allow you to easily move file format from your test environment to your production environment without the need to re-do the file configuration.

Payments

Maintaining bank accounts for supplier payments is crucial. IPM includes an enhanced bank account maintenance application that simplifies this task.

When adding a supplier bank account, the International Bank Account Number, bank account number, bank country code, SEPA flag, and BIC/Swift code can be set automatically, reducing errors. Additional codes, such as the charge bearer code, can also be added using the same form.

After generating payment groups, the bank file is formatted based on the format defined in the Bank Format Maintenance application. The file is written to the file location set in the processing options, allowing you to write to a secure location.

Key benefits

• Easy bank account maintenance
• Optional bank account history file
• Visibility of XML errors and warnings in the payment group application
• Secure file location for the payment file, allowing FTP transfer to the bank
• XML payment file format based on setup

Direct Debits

With the introduction of SEPA, the rules for direct debit processing have been changed significantly. Keeping track of mandates, notifications and returns can be challenging. IPM offers significantly enhanced mandate maintenance, allowing for fast and easy mandate registration and amendments, and enhanced mandate processing, including notifications.

Key benefits

• Easy mandate maintenance with mandate defaults
• Multiple mandates per customer and customer/company combination
• Mandate validation when generating direct debit batches
• Compliance with SEPA direct debit rules
• Generate standalone notifications or incorporate them into invoice processing
• Full track & trace for mandate usage, notifications and returns
• Secure file location for direct debit files, allowing for FTP transfer to the bank
• Format of the XML payment file based on setup
• Automatic return processing in combination with Bank & Cash Management (BCM) module

Securing bank files

Ensuring that your payment files are not altered before they reach your bank is essential to prevent your money being diverted to incorrect accounts instead of paying your suppliers.

IPM allows you to secure the payment (and direct debit files) by writing the files to secure file locations and adding Hash calculations, allowing you to check if the file has been altered.

Key benefits

• File Location control – write to secure location
• Hash calculations (MD-1, SHA1, SHA256)

Fully integrated with JD Edwards

IPM is developed with the Oracle JD Edwards tool set and integrates seamlessly with your JD Edwards environment.

This means a familiar look and feel for the end-user, no need for additional servers, databases or knowledge to maintain the application. Standard JD Edwards security rules apply, making it very easy to incorporate the module in your current JD Edward landscape. Data is stored in the same database as your other JD Edwards data and is automatically part of your data set. Your normal reporting tools can be used to create additional reports, and software updates move from development all the way to production, just like your other JD Edwards upgrades and modifications.

Use queries, personalized grids, watchlists, notifications, and orchestrations as you see fit to enhance the user experience and improve your processes even further.

Would you like to learn more about the benefits of this solution? Request a demo today and discover the benefits for your organization.

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