U.S. Bank is using SAP Consolidated Payables Link to allow customers to integrate their enterprise resource planning (ERP) software from SAP AG with U.S. Bank’s payment origination services.
Through the service, customers can leverage their existing investments in SAP technology to help automate their payables process quickly and more affordably, U.S. Bank said.
“Limited resources challenge many of our clients, which makes it difficult for them to prioritize electronic payment projects over other business objectives,” said Lynn Heitman, senior product and marketing officer at U.S. Bank. “SAP Consolidated Payables Link helps remove that obstacle. The application can be downloaded easily, after which, organizations should rapidly be able to reap the benefits of enhanced control, visibility and predictability delivered by U.S. Bank’s centralized payment origination.”
SAP Consolidated Payables Link eliminates the need for organizations to spend IT resources on file formats and custom interfaces between the SAP ERP application and their bank in order to originate payments, U.S. Bank explained. The single-payment instruction file is designed to contain any combination of check, Automated Clearing House (ACH), wire transfer and virtual card payments.
“U.S. Bank is the first bank to work with SAP to make this integrated solution available to the market, bringing together payment and ERP components that are essential to a client’s financial operations,” said Pam Marion, national vice president, Custom Development, SAP. “This solution is expected to help businesses quickly become more efficient and nimble with their electronic payment processes.”