Simple access to your financial counter parties
Essony offers complete ERP-to-bank connectivity, including format transformation, approval workflows, and automated connectivity for transmission and acknowledgements.
The ability to make payments efficiently and securely is an important commercial activity on which the survival of every company depends. Failures in either one can have serious financial, and competitive implications.
It is not only the method of payment which is a consideration for treasurers and finance managers, but also the format in which payment information is exchanged with the bank. One of the difficulties experienced by many multi-banked corporations is that banks exchange data in varying formats which their customers must then configure and maintain in their own internal systems. This makes it time and resource-intensive to change or add banks, and complicates system upgrade and integration projects.
Among those that use XML, whether for payments or more widely, about 80 percent are now using version of systems such as ERPs or payment factory systems that support XML formats directly, rather than having to convert from legacy formats.
Our services enables organizations to centralize their financial counter parties connectivity into cloud based service. By connecting once you can reach your counter parties without investing into multiple solutions or technical competence.
Overview
Essony's corporate connectivity for banking is an electronic banking solution that allows you to connect directly to the banking system in course of your accounts-receivable and accounts-payable processes. The solution aims to provide seamless integration with the bank's landscape over the internet using web service. Essony's solution optimizes your payment-instruction processes by providing additional status monitoring and re-sending options.
Key Features
- Direct connections to selected banks and other financial counter parties.
- Format Transformation - every bank requires unique formats by type of payment and destination, and these formats different from bank to bank. Essony maintains a complete inventory of formats to automatically encode the necessary formats for each payment scenario, per bank and geography.
- Connectivity - Essony supports multiple connectivity channels including Host-to-Host, and regional protocols. We will find you the best choice(s) to maximize automation and minimize costs.
- Support for over 20 different (EDI/XML) electronic document formats.
Benefits
By integrating E-Payment into your processes, you’ll be able to:- Enjoy direct connections to selected banks and other financial counter parties
- Increase Efficiency
- Control costs
- Strengthen Controls and compliance
- Decrease bank dependence
- Reduce operational Risk