Streamlined Bank Account Management within SAP
FS² eBAM is the only solution available today that goes beyond the administration of account signatories, opening and closing bank accounts, and generating compliant reports. It enables electronic bank account management (eBAM) and empowers you to manage centrally numerous bank accounts across various global regions within one single holistic platform.
Recent studies show that finance departments receive over 30% of their bank invoices and reports electronically on a global level from numerous sources further complicating and duplicating efforts. With FS² eBAM, we help you to improve and modernize your bank account management (BAM) workflow and systems by reducing manual efforts, providing rigorous security and meeting international compliance and regulations. Plus, our unique bank fee analysis module has the additional advantage of reducing bank fees by over 15% from mischarges.
Receive the benefits of FS² eBAM directly embedded in your SAP structure by utilizing your SAP data and other ERP systems to streamline your processes and workflows. Our exceptional solution seamlessly integrates HR data, FBAR reports, and international financial information, from unlimited bank financial records, presented with drill-down functionality and vibrant graphics on dashboards, configured by you, for centralized bank account reporting.
FS² eBAM: Highlights and Benefits
- Single source of truth for bank account administration
- Centralized control of bank account contact and communications
- Highly secure and auditable opening, closing and maintenance processes
- Electronic XML messaging with banks
- Digital signatures
- Reduced risk of fraud
- Configurable workflows
- Automated bank fee reconciliation
- Reduction of bank fee overcharges by 15% or more
- Modern FBAR reporting
- Enhanced bank relationship management
- Robust reports/analytics/metrics
- Deployable on-premise, in the cloud, or as a hybrid model