Speed up your OTC (order-to-cash) cycle by eliminating the inherent delays of paper-based processes.
Paper checks and phone calls increase your cost to serve.
Many manufacturers still use paper-based processes for accounts receivable. Yet these processes can insert at least six business days into your order-to-cash cycle (four days in the mail, two days processing).
These practices are expensive—and they can create errors.
It’s time to modernize your B2B payments.
Add SAP-integrated payments to Corevist.
All Corevist solutions support ePayments integrated to SAP through a PCI-compliant payment gateway (typically from a leading provider like Spreedly or Paymetric). With ePayments enabled, your Corevist solution empowers B2B users to make self-service payments through your preferred method(s), including:
- ACH transfer
- Credit/debit card
- eCheck
- Paypal
PCI-compliant ePayments on your terms.
Corevist supports the way you get paid. Some manufacturers allow ePayment at checkout, as the B2B customer places an order. Others retain their existing net 30/60/90 processes, giving customers access to invoices and self-service payment processing in Corevist.
Whether you choose one or both of these options, Corevist doesn’t store any data related to credit cards, bank accounts, or other financially sensitive information. Our architecture ensures PCI compliance through your chosen gateway provider, and our integration clears the relevant record in SAP in real time.
ePayments that fit your use case.
Every manufacturer has unique requirements when it comes to SAP B2B payments. That’s why our solution is flexible, ready to adapt to your business.
Here are some common use cases we see:
- Allowing customers to pay for an order during the checkout process.
- Allowing customers to pay in advance for a quote they’ve received.
- Allowing customers to pay down invoices and keep their accounts in good standing.
- Allowing internal A/R clerks to process payments on behalf of customers.
How does the SAP payment integration work?
Corevist’s direct, real-time integration eliminates the need for middleware and data synchronization.
When a B2B customer navigates to the Pay Invoices portion of your Corevist portal, our application pulls up the list of open items from the SAP FI-AR module in real time. When the user pays off the invoice, Corevist clears that open item in SAP and books the liability to a GL clearing account awaiting the bank to issue remittance.
Benefits of payments integrated to Corevist
Frequently Asked Questions:
What are the four payment methods in SAP?
The answer depends on context. Generally, in an SAP scenario, “payment methods” refers to how funds are transferred. In that case, the four most common payment methods in SAP are eCheck, ACH transfer, credit card, and debit card.
Outside of this context, “payment method” may also refer to options and terms related to when a customer can pay (or must pay). In that case, “payment methods” include milestone/periodic billing, payment guarantees, pre-payments (including partial down payments), and “payment on account.” In this last case, the full amount of the transaction is added to the customer’s accounts receivable balance for payment at a later date.
What is a payment processing system?
A payment processing system verifies the legitimacy of transactions and transfers funds electronically between the appropriate parties. Every electronic transaction (including ACH transfer, eCheck, and credit and debit cards) must pass through some kind of payment processing system.
What is an SAP payment request?
An SAP payment request is a notional transaction which logs a request for a down payment. It is not generated by a customer’s open item, but rather by the request for a down payment. It is strictly informational, not an indication of a real transaction or of any funds being owed.
When a payment request is created in SAP, it logs an open line item in the subledger for that customer account, but it does not affect the books until the customer makes a payment. At that point, the payment request is converted into a down payment, and an associated open item is created along with an invoice. Reconciliation is required between the cleared invoice line item and the cleared down payment line item.
How does SAP payment processing work?
In a self-service portal with SAP payment integration, the customer sees a list of open items in the SAP FI-AR module pulled from SAP in real time. When the customer selects and pays off the invoice, the application clears that open item in SAP and logs the liability to a GL clearing account which waits for the bank to transfer the funds.
