We asked Serrala CEO, Sven Lindemann about his vision for the Universe of Payments. This is what he said:
Serrala's Vision for the Universe of Payments
Our overall vision for Serrala's universe of payments, is that the universe of payments is an end-to-end process that can connect all parts of the payment. In the past you'd be able to see a payment as it transfers from a corporation to a bank. With the universe of payments, however, you can see all the connecting parts of that payment: starting with O2C, ending in P2P, and supported by processes in cash and treasury management. That's what we define as the universe of payments. That's where our vision will be focused for the next couple of years.
How can customers benefit from the Universe of Payments?
If you see the overall payment processes a company has today, there's a lot of separation. They have one O2C process, one P2P process, and one Cash Management process - yet they're all forms of payments processing. At Serrala what we have is one integrated solution that provides companies with one automated, integrated process that starts the next step in the payments process when the other one ends. Giving you a single process around the universe of payments.
What are the big trends in Finance in the next few years?
The biggest trends that we see on the desk of the CFO these days are around transparency, compliance, efficiency and fraud prevention. We see companies really benefiting in the future by focusing on those four topics.
Which technologies are relevant today and in the future ?
We see a lot of companies/corporates moving to the cloud. We also see still a lot of companies that are staying in their ERP environment. Our vision for where the technology will go is that it will go to the cloud, but a huge portion of companies will choose run hybrid cloud environments: a mix between an ERP plus a cloud environment, where both worlds are talking automatically and seamlessly with each other.
What are the key benefits of Integration?
We see the three biggest benefits of integration being efficiency and transparency and fraud prevention. If you have all of your payment processes connected to each other, you have less potential of fraud in your organization, you have the highest rate of efficiency and the highest rate of automation. That's where the the biggest benefits are coming from.