Every business needs it: A connection between the financial backend system and external banks is essential for daily financial operations.
In the past, with relatively simple system landscapes and stable business environments, the maintenance of those connections was a manageable task, even if the interfaces were homegrown and very specific.
But things have become more complex over time. Not only has technology changed, the business of today is far more demanding. People expect financial IT systems to adapt quickly to changes in business models or business relations. Changes need to be integrated seamlessly into existing processes without interruption. This applies even more to modern cloud-based environments where change happens almost on the fly.
How can you move away from maintaining proprietary connections towards a modern multi-bank connectivity solution?
SAP has set up a partnership with SWIFT, the world’s leading provider of secure financial messaging services, to develop an out-of-the-box solution for treasurers worldwide.
With SAP S/4HANA, SAP brings the latest technology to the table; SWIFT has the ability to reach out to nearly all banks globally via its comprehensive network. The combination of SAP Cloud Platform technology and the globally standardized SWIFT network results in a combination that has the potential to change the game.
On March 21, this new partnership was announced by SWIFT.
Uwe Erdtmann is director of Solution Marketing at SAP.