Making your Payment Processes more Agile

Managed Automation make your financial processes more agile. You can react faster to changing corporate situations, changes in the banking system, and new regulatory requirements. Market dynamics that call for managed services include the following:

  • New payment methods and standards emerge (e.g. Ripple, SWIFT gpi)
  • Strong growth of cloud and SaaS solutions and services
  • Security and legislative pressures and changes
  • Capitalise ERP investments
  • Always-on, real time payment information
  • ‘API economy’ is making its way
  • Corporate payments to follow strong innovation initiatives in retail payments

Moreover, M&A activities are a classical example for such a rapid change. A company then needs to quickly integrate a new entity into the company-wide finance processes and IT infrastructure to allow for a central view for the treasurer. The new entity might be located in countries where the main company has not had any operations before and thus might have to connect to new banks and deal with new payment formats and currencies. All this adds complexity to the integration process.

Business Challenges Caused by Market Dynamics

  • Limited flexibility to connect new banks or new payment options
  • Format conversion complex and work-intensive
  • Dependency on internal IT resources
  • IT complexity influences treasury agility
  • Learning curve for new countries and banks
  • Time to complete vs. other priorities
  • Increased security, fraud and compliance requirements

This is where Managed Automation come in. They give you the flexibility to act quickly and have operations handled through an external provider.


Typical examples where Managed Automation Add Value

  • Bank connectivity – have the security and technical connectivity protocols managed by a trustworthy partner like Serrala
  • Importing, converting and enriching payment, status and reporting file formats
  • Integrating finance processes with SAP and connecting various ERP’s, HR and Treasury systems
  • The detection, prevention and monitoring of suspicious actions
  • Audit-proof tracking of actions and checking compliance with external information such as embargo and sanctions lists
  • Optimizing payments through rerouting, validation and enrichment of payment files
  • Automatically reconciling information from remittance advices with your accounts

So, if you would like to, for example, change your bank or the bank formats change, managed services will absorb the changes, allowing your organization to focus on its core treasury business.

Serrala offers a uniquely powerful portfolio of managed services including the above examples!

Benefits of Managed Automation offered by Serrala

  • Agility
  • Flexibility to include new entities, react to bank format changes, regulations
  • Hand over responsibility to the service provider for updating formats, adjusting to regulations etc.
  • Pay what you get
  • Lower IT infrastructure costs
  • Pricing transparency
  • Save time and costs
  • Services built on years of experience and expertise gained from countless client projects, more than an individual company could gain
  • Leverage list of already connected banks
  • Extensive list of formats available for immediate use
  • Focus on your core business
  • Freedom to easily change banks
  • Secure fraud protection through tried and tested mechanisms
  • Plug and play