Industry
Transportation
Region: United States of America
Summary
Team SFA developed industry-based standardized configurable secure inbound and outbound banking integration automations for PeopleSoft Financials to manage billions of dollars investments, debits, payrolls, vendor payables and customer receivables, deposits, checks and their associated acknowledgements using PGP and other standards based encryptions.
Objectives and Challenges
- Objectives: Adoption of industry-based standardized secure payments processing to reduce operating costs and increase productivity
- Challenges: Billions of dollars of payments processed through manual payment process cycles, manual uploads and no encryptions with multiple banks for payments and deposits; inability for prompt-payment processing; high volume of payment cancels/voids; payment processing efficiency measured by spreadsheets; labor intensive manual deposits/credits processing.
Results
- Streamlined payments, credits, deposits and multiple payment methods processing with industry-based standards through direct integration with multiple banks
- Total transparency for payments and deposits processing through payment lifecycle online position flows with approvals
- Banking encryption embedded direct integration to/from customer to banking through automated batch processing
- Daily payments and deposits processing with distributed processing schedules and timeline
Benefits
- Centralized visualization of payments and deposits processing
- Multiple banks integrations performed by machines replacing human labor and hence human error
- Industry-based payments and deposits processing and reduced new bank adoption timeline; No more spreadsheet-based tracking
- Prompt-payment processing goals accomplished with processing efficiency and reduced payment cancels/voids
- Organized payments/deposits monitoring and BI Reporting
Products and Technology
- PeopleSoft FSCM
- EPM
- PeopleTools
- PGP
- Batch Scripts
- Cronjobs
- XML Publisher
- SQR Reports
- Cognos