The Intelligent Electronic Bank Statement (IEBS) - ConVista

The Intelligent Electronic Bank Statement (IEBS) ConVista asiaconvista.blogspot.com/2022/10/the-intelligent-electronic-bank.html Convista Asia

The Intelligent Electronic Bank Statement (IEBS) is an electronic banking system that was designed to make banking simpler and more efficient for consumers. IEBS is based on the concepts of smart banking and digital banking, which aim to improve the user experience by automating and streamlining banking tasks. IEBS provides users with a single online banking interface that allows them to manage their finances, access their account information, and make transactions in a fast and easy way.

The Intelligent Electronic Bank Statement offers several benefits for consumers. First, it allows users to stay organized and easily access their account information. Second, it helps to reduce the time that it takes to conduct @ConVista

The intelligent Electronic bank statement You have probably already noticed it: The standard function that you use for automatic posting and clearing within your account statements in SAP is limited. In the end, there are always a few postings left over that you have to reprocess manually. However, we have prepared something for you: The intelligent Electronic Bank Statement (IEBS) solution within our Finance Treasury Suite.

Why intelligent? Because it is Artificial Intelligence that makes IEBS an efficiency booster.

The solution fully automates the upload of the statement files, posts them automatically, and optimizes the rate of automatic clearing with Machine Learning. In this article, you will learn which individual functions of IEBS relieve you of manual work and how they help to improve and accelerate bank statement processing in your company.

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#01 Importing bank statement files is completely automated The process of bank statement processing begins with the import of the files. IEBS completely automates the import and enhances the standard with new functions that significantly optimize this process step.

IEBS can, among other things: split and/or merge and filter statement files forward these statement files to subsequent applications mass import all SAP standard formats including Multicast send the status of the import by e-mail.

#02 Accounting department simply sets up accounting and clearing rules itself In the posting and clearing process step, you will notice how user-friendly IEBS is.

Posting rules and clearing criteria required for bank statement transactions can be maintained much more conveniently and easily than with other solutions.

For this purpose, we have developed a user mode, which is easy to use: It enables the person responsible to configure the determination of the bank statement posting rules quickly and directly in the production system.

In the expert mode, more complex derivatives can easily be set. But don't worry: No programming knowledge is needed for this either.

To determine the posting rules and clearing criteria, you can make the following settings: The criteria that define when to apply an accounting rule business transaction codes, as well as the purpose of the transaction, can be used.

The selection criteria of the open items to be cleared (such as open creditor or debtor invoices). These go far beyond the capabilities of the standard SAP algorithms.

The additional account assignments, such as cost centers or branch offices.

#03 The machine learns from the employees and optimizes the clearing rate

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Artificial Intelligence or not: Most of the know-how in any company is still held by the employees. And IEBS is smart enough to realize that it still has a lot to learn from them.

Our "learning clarification", as we call Machine Learning in IEBS, adapts this human knowledge. The result: Our solution continuously improves automation, thereby optimizing the clearing rate and reducing the manual work in the accounting department.

This leaves more time for things that create additional value for your company.

#04 Finally: the tools for monitoring and analysis Good follow-up work includes high-quality analyses and monitoring options. IEBS enhances the standard monitoring and gives you insights into the automatic import of bank statement files. Not only do you see whether a file has been imported. In case of an error, you also find out why a file could not be entered for example, because the configuration of a house bank account is missing.

The advanced analysis tool from IEBS enables you to analyze the automatic clearing rate periodically by bank accounts and business transactions. In addition, a research tool allows you to search directly within the bank statements, for example, to search for the contents of the intended purpose.

#05 Easy incorporation: The surface looks the same The IEBS solution is optimized for SAP ERP ECC and S/4HANA and uses the SAP standard interface. Therefore, you don't have to change your habits but can quickly integrate the new functions into your everyday work.

#06 Our consultants will be happy to support you We offer you a compact assessment in which we jointly identify and evaluate the optimization potential of your current process. Please feel free to arrange a no-obligation initial meeting.

For more information Contact us: +91 80 468184 00 Or, visit: www.convista.in

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