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SAP PRESS is a joint initiative of SAP and Galileo Press. The know-how offered by SAP specialists combined with the expertise of the Galileo Press publishing house offers the reader expert books in the field. SAP PRESS features first-hand information and expert advice, and provides useful skills for professional decision-making.
SAP PRESS offers a variety of books on technical and business related topics for the SAP user. For further information, please visit our website: http://www.sap-press.com.
Shivesh Sharma Maximizing SAP General Ledger 2010, app. 550 pp. 978-1-59229-306-3
Eric Bauer, Jörg Siebert The SAP General Ledger 2010, app. 500 pp. 978-1-59229-350-6
Mitresh Kundalia Segment Reporting with Document Splitting in the SAP General Ledger 2009, app. 150 pp. 978-1-59229-265-3
Naeem Arif, Sheikh Muhammad Tauseef SAP ERP Financials: Configuration and Design 2008, app. 450 pp. 978-1-59229-136-6
Eleazar Ortega Van Steenberghe
Maximizing Cash Management with SAP® ERP Financials
Bonn � Boston
Dear Reader,
More than ever before, corporations must maintain sophisticated cash manage-
ment systems that enable them to optimize both their investments and their daily
cash. SAP customers can take advantage of the myriad cash management products
offered in the SAP ERP Financials, Treasury and Risk Management, and FSCM com-
ponents, but the real-world aspects of maximizing the existing solutions can be hard
to understand, navigate, and implement without experienced, practical guidance.
Thanks to the expertise of Eleazar Ortega Van Steenberghe, reading this book will
put you in the best possible position to truly maximize your use of SAP’s cash man-
agement systems. Building off 20 years of experience working with Fortune 500
companies such as Nike, Target, and Aflac, Eleazar’s clear, detailed explanations
and numerous examples will teach you exactly what you need to know about this
complex topic. Throughout the course of writing his manuscript, Eleazar continually
impressed me with his knowledge of this subject and dedication to his work. You are
now the recipient of this knowledge and dedication, and I’m confident that you’ll
benefit greatly from both.
We always look forward to praise, but are also interested in critical comments that
will help us improve our books. We encourage you to visit our website at www.sap-
press.com and share your feedback about this work.
Thank you for purchasing a book from SAP PRESS!
Kelly Grace Harris
Editor, SAP PRESS
Galileo Press
Braintree, MA
www.sap-press.com
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The Library of Congress has cataloged the printed edition as follows:Ortega Van Steenberghe, Eleazar.
Maximizing cash management with SAP ERP financials / Eleazar Ortega Van Steenberghe. —
1st ed.
p. cm.
ISBN-13: 978-1-59229-324-7
ISBN-10: 1-59229-324-7
1. Cash management — Computer programs. 2. SAP ERP. I. Title.
HG4028.C45O78 2011
658.15’2028553—dc22
2010031415
ISBN 978-1-59229-324-7 (print) ISBN 978-1-59229-677-4 (e-book) ISBN 978-1-59229-678-1 (print and e-book)
© 2011 by Galileo Press Inc., Boston (MA) 1st edition 2011
7
Contents
Preface ....................................................................................................... 13Acknowledgments ..................................................................................... 17
1 Business and Functional Overview ........................................... 19
1.1 International Cash Management ................................................. 191.1.1 Growing Importance of International Cash
Management .................................................................. 191.1.2 Key Business Processes in International Cash
Management .................................................................. 201.1.3 The Global Liquidity Crisis and the Treasury
Department ................................................................... 221.1.4 Challenges and Opportunities for the Treasury
Department ................................................................... 251.2 Regulatory Compliance and Governance Issues ........................... 25
1.2.1 SEPA .............................................................................. 251.2.2 International Accounting Standards (IAS) ....................... 271.2.3 Bank Secrecy Act ............................................................ 281.2.4 Stimulus Package ........................................................... 281.2.5 Regional Tax and Legal Requirements ............................. 291.2.6 Sarbanes-Oxley Act ........................................................ 30
1.3 Technology as an Enabler ............................................................ 301.3.1 Treasury Systems and Technology ................................... 301.3.2 The Case for ERP Treasury Systems ................................. 311.3.3 Key Drivers and Benefits of a Global ERP Treasury
System ........................................................................... 311.4 Summary .................................................................................... 32
2 Global Banking and Payment Systems and Practices .............. 33
2.1 Overview of International and Regional Banking ......................... 332.1.1 International Banking ..................................................... 332.1.2 Regional Banking ........................................................... 342.1.3 Universal Elements of a Payment Process ....................... 35
8
Contents
2.2 Challenges for Global Treasury Management ............................... 362.2.1 Treasury Technology Platforms ........................................ 372.2.2 Centralized versus Decentralized Treasury Operations ..... 382.2.3 Integrated versus Standalone Treasury Operations .......... 40
2.3 Leveraging SAP ERP Treasury Functionality ................................. 412.3.1 Cash and Liquidity Management .................................... 412.3.2 Treasury and Risk Management ...................................... 422.3.3 SAP In-House Cash ......................................................... 422.3.4 SAP Bank Communication Management ......................... 422.3.5 Bank Communications and Interfaces ............................. 432.3.6 SAP ERP Tools and Architecture ..................................... 44
2.4 Summary .................................................................................... 44
3 Advanced Inbound Electronic Banking in SAP ERP .................. 45
3.1 Business Process Overview .......................................................... 453.1.1 Importing Bank Master Data .......................................... 463.1.2 Importing Electronic Bank Statements ............................ 463.1.3 Importing the Cashed Checks File ................................... 523.1.4 Processing Lockbox Files ................................................ 52
3.2 Inbound Processes: Screens and Examples ................................. 533.2.1 Importing Bank Master Data .......................................... 533.2.2 Importing Electronic Bank Statements ............................ 553.2.3 Importing Cashed Checks Files ....................................... 633.2.4 Importing Lockbox Files ................................................. 64
3.3 Configuration and Integration of Inbound Processes ................... 673.3.1 Importing Bank Master Data .......................................... 673.3.2 Importing Electronic Bank Statement ............................. 683.3.3 Importing Cashed Checks Files ....................................... 823.3.4 Importing Lockbox Files ................................................. 82
3.4 Summary .................................................................................... 85
4 Advanced Outbound Electronic Banking in SAP ERP .............. 87
4.1 Business Process Overview ......................................................... 874.1.1 Check Payment Processing and Positive Pay File
Generation ..................................................................... 884.1.2 ACH Payments: Domestic and International ................... 91
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Contents
4.1.3 Wire Transfers ................................................................ 944.1.4 Cash Concentration ........................................................ 101
4.2 System Configuration .................................................................. 1024.2.1 House Bank and Account ID Creation (Including ALE
Configuration) ................................................................ 1034.2.2 Payment Program Configuration ..................................... 1164.2.3 Cash Concentration Configuration .................................. 138
4.3 Business Process Examples .......................................................... 1404.3.1 Payment Process ............................................................ 1414.3.2 Cash Concentration ........................................................ 154
4.4 Summary .................................................................................... 157
5 Overview of SAP Bank Communication Management ............. 159
5.1 Evolution of Bank Communications and Introduction to the SWIFTNet Service ....................................................................... 160
5.2 SAP Bank Communication Management Functionality Overview ... 1645.2.1 Merge Payments ............................................................ 1655.2.2 Approve Payments — Batch and Payment Monitor ......... 1665.2.3 Bank Statement Monitor ................................................ 168
5.3 SAP Bank Communication Management Configuration ............... 1705.3.1 Basic Settings ................................................................. 1715.3.2 Payment Grouping ......................................................... 1715.3.3 Payment Status Management ......................................... 1755.3.4 Bank Statement Monitor ................................................ 1775.3.5 Release Strategy ............................................................. 178
5.4 SAP Bank Communication Management in Action ...................... 1845.4.1 Bank Statement Monitor ................................................ 1845.4.2 Batch and Payment Monitor ........................................... 189
5.5 Summary .................................................................................... 197
6 In-House Banking with SAP ERP .............................................. 199
6.1 Overview of SAP In-House Cash ................................................. 1996.1.1 Key Drivers for Implementing SAP In-House Cash .......... 2026.1.2 Business Scenarios Supported by SAP In-House Cash ...... 2036.1.3 Cost Benefit Considerations ............................................ 206
6.2 Master Data ................................................................................ 208
10
Contents
6.3 System Configuration .................................................................. 2096.3.1 Bank Key Terms .............................................................. 2096.3.2 Virtual Bank Creation ..................................................... 2106.3.3 ALE Configuration .......................................................... 2116.3.4 SAP In-House Cash General Configuration ...................... 2146.3.5 SAP In-House Cash Payments Configuration ................... 2186.3.6 SAP In-House Cash Collections Configuration ................. 227
6.4 Periodic Tasks ............................................................................. 2296.5 Reporting ................................................................................... 2306.6 Examples of SAP In-House Cash in Action ................................... 2316.7 Summary .................................................................................... 239
7 Global Liquidity Forecasting with Liquidity Planner ............... 241
7.1 Business Process Overview .......................................................... 2417.1.1 Cash Accounting ............................................................ 2437.1.2 Liquidity Planning and Reporting ................................... 246
7.2 Liquidity Item Assignment Programs ........................................... 2497.2.1 Assigning Liquidity Items from Bank Statements ............. 2507.2.2 Assigning Liquidity Items from Financial
Accounting Documents .................................................. 2517.2.3 Assigning Liquidity Items from Accounts Payable
Invoices ......................................................................... 2527.2.4 Assigning Liquidity Items Manually ................................ 252
7.3 Configuration of Cash Accounting ............................................... 2537.3.1 Basic Settings Liquidity Calculations ............................... 2537.3.2 Assignment .................................................................... 2577.3.3 Query Definition ............................................................ 2617.3.4 Information System ........................................................ 2657.3.5 Additional Liquidity Planner Tools .................................. 268
7.4 Liquidity Planner in Action .......................................................... 2697.4.1 Cash Accounting: Calculation of Actual Cash Flows ........ 2697.4.2 Data Extraction to SAP NetWeaver BW .......................... 2757.4.3 Planning in Liquidity Planner .......................................... 2777.4.4 Reporting and Actual versus Plan Comparisons ............... 281
7.5 Summary .................................................................................... 286
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Contents
8 Integration with Procure-to-Pay, Order-to-Cash, and Other Financial Processes ......................................................... 289
8.1 Integration Points for the Cash Position and Liquidity Forecast Reports ......................................................................... 2898.1.1 Integration with Sales and Distribution ........................... 2908.1.2 Integration with Accounts Receivable ............................. 2928.1.3 Integration with Purchasing ............................................ 2948.1.4 Integration with Accounts Payable ................................. 2968.1.5 Integration with Transaction Manager ............................ 2988.1.6 Integration with SAP In-House Cash ............................... 300
8.2 Forecasting in Liquidity Planner .................................................. 3038.3 Summary .................................................................................... 304
9 Global Cash Position Reporting and Management .................. 305
9.1 Introduction to the Cash Position Report .................................... 3079.1.1 Working with the Cash Position and Liquidity
Forecast Reports ............................................................ 3089.1.2 Memo Records .............................................................. 314
9.2 Cash Management Configuration ................................................ 3209.2.1 Activating the Default Value Date ................................. 3209.2.2 Configuring Source Symbols ........................................... 3219.2.3 Configuring Planning Levels ............................................ 3229.2.4 Configuring Cash Management Account Names ............. 3249.2.5 Configuring Planning Groups .......................................... 3269.2.6 Structuring the Cash Position Report .............................. 3279.2.7 Configuring the Distribution Function ............................ 3299.2.8 Configuring Archiving Categories .................................... 3309.2.9 Configuring Memo Records ............................................ 3329.2.10 Defining Levels in Payment Requests .............................. 3339.2.11 Configuring Production Startup and Reorganization ....... 334
9.3 Summary .................................................................................... 336
10 Building an Integrated SAP ERP Treasury System ................... 337
10.1 Treasury Workstations versus ERP Systems .................................. 33710.2 Migrating Standalone Treasury Workstations to SAP ERP ............ 339
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Contents
10.3 Implementing SAP ERP Treasury Applications ............................. 34010.3.1 Project Methodology ..................................................... 34010.3.2 “Big Bang” or “Phased Roll Out” .................................... 34310.3.3 Time and Resources ....................................................... 34410.3.4 Lessons Learned ............................................................. 345
10.4 Summary .................................................................................... 347
11 Leveraging Tools and Enhancements ....................................... 349
11.1 Architecture Options for SAP FSCM ............................................ 34911.2 Tools and Architectures of SAP ERP ............................................. 350
11.2.1 Business Framework Architecture (BFA) .......................... 35111.2.2 SAP NetWeaver Process Integration
(SAP NetWeaver PI) ....................................................... 35211.3 SAP Enhancement Packs and New Treasury Functionality ............ 35311.4 Summary .................................................................................... 354
The Author ................................................................................................ 355Index ......................................................................................................... 357
Service Pages ............................................................................................. ILegal Notes ............................................................................................... III
13
The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools.
— Confucius
Preface
Why This Book Was Written
EversinceIbeganimplementingtreasuryapplicationsfromSAP,I’vefacedthesamequestionsfrommyclients:
EE Howshouldamoderntreasuryoperate?
EE Whatarethecurrenttrends?
EE Whatarethebestpractices?
EE IsthewayIrunittodaythebestway?
EE HowcanIusenewtechnologiestomakemyworkeasier?
EE What exactly is covered by the functionality in SAP Treasury and RiskManagement?
EE WhatarethedifferencesamongSAPTreasuryandRiskManagement,CorporateFinance Management (CFM), and SAP Financial Supply Chain Management(SAPFSCM)?
EE WhatisFinancialSupplyChainManagement?
Unfortunately,alotofconfusionabouttreasuryapplicationsfromSAParisesfromanumberofsourcesandcircumstances:
EE Name changes ThenameofthetreasuryfunctionalitiesincludedinSAPhaschangedanumberoftimesasnewversionsarelaunched.Backinversion3.0,itwasknownasTR-CM for Cash ManagementandTR-TM for Treasury Management;at thetime,
14
Preface
this includedmoneymarkets, loans,andsoon. Inversions4.5and4.6, theproduct became Corporate Finance Management (CFM), which included bothCashManagementandTreasuryManagement.InthecurrentSAPERP6.0ver-sion,itispartofSAPFinancialSupplyChainManagement(SAPFSCM),whichalsoincludesotherapplicationsrelatedtoreceivablesandpayables.
EE SAP marketing materials SAP marketing materials sometimes mention functionality that is meant forfuturereleasesbutisnotavailableatthetimethebrochuresandmaterialsaregiventoclients.Althoughthisisstatedsomewhereinthebrochures,itcausesalotofconfusionandsometimesdisappointmentamongclientsandprospectiveclients.Thiswasparticularlytrueinthe1990sbutisstilltruetosomeextenttoday.
EE Few implementations of treasury applications from SAP ThetreasuryapplicationsfromSAPareusuallypartofasecondorthirdphaseintheimplementationcycle,whichmeansitisoftencanceledduetoexpendi-turesinconsulting.
EE Lack of standard naming conventions There isno standardname for someof thebusiness functions in a treasurydepartment, soeach software company tends togive the functionsdifferentnames.Aswith a lotof SAP terms, thismakes it difficult tounderstand forpotentialcustomersandnewimplementationteammembers.
EE Incorrect implementations Because,inthepast,treasuryhasbeenarelativelyuncommonfunctionalitytoimplement,veryfewconsultantsknewitwell,whichledtocompaniesimple-mentingitwithoutproperknowledge.Naturally,thishasleadtopoorresultsandgiventheproductanunfairlynegativereputation.
Despitethesemisunderstandings,theroleofthetreasuryapplicationsfromSAPhasevolvedsignificantlyduringthelasttwodecades,mainlyduetotheadoptionofintegratedsoftware,connectivitytotheInternet,andtheevolutionofthefinan-cialmarkets.Thishascausedtreasurytomovefromabackofficefunctionintoacriticalbusinessfunctionthathasresultedinawholenewsetofprocesses,rules,andbestpractices.
© 2014 by Galileo Press Inc., Boston (MA)
15
Preface
Thisbookanswersallofthequestionspresentedatthebeginningofthissection,whilealsoexplainingsomeofthemainissuesandalternativesforresolutionofproblems.
How the Book Is Organized
Amoderntreasuryhasseveralmainprocesses,andthisbookexplainshowtheyworkandhowcantheybesetupinSAP.Chapters 1 and2coverlocalandinterna-tionaltreasurybusinessprocessesandissues.Chapters 3 and 4focusoninboundandoutboundcashflowsthattakeplaceelectronicallyusingSAPfunctionality.Chapter 5explainshowtosetupyourbanksandbankaccounts,aswellashowtomanagealloftheinformationandprocessesbetweenyourcompanyandyourbank.ItalsocoverssomeofthenewfeaturesofSAP,suchastheIntegrationPack-ageforSWIFNET.Chapter 6describesSAPIn-HouseCash,includingthebenefitsofusingitandhowitisconfigured.Chapter 7coversLiquidityPlanner,howtotrackactualcashflows,andprovidesanoverviewoftheplanningprocess.Chapter 8isabouthowothercomponentsofSAPandthebusinessprocessesoutsideoffinanceintegratewiththedifferenttreasuryfunctionalities.Chapter 9summarizesallofthepreviouschaptersandshowshowtheintegratedtreasurywillultimatelywork.Chapter 10givesareviewofgeneralSAPimplementationmethodologyandsometreasury-specificlessons.Finally,Chapter 11closesthebookbyprovidinganoverviewofnewandfuturefunctionalitiesofSAP,andhowtheywillcomplementtheexistingonestoprovideamoreintegratedtreasuryfunctionality.
Intended Audience
Thisbookisaimedatfinancialexecutiveswhodealwithtreasuryissuesonadailybasisandwanttofindbetterwaystoorganizeandruntheirtreasurydepartments.ThebookisalsoapplicabletothosewhoareconsideringanimplementationoftreasuryapplicationsfromSAP.
Thebookwillalsohelpinformationtechnologyexecutiveswhoareweighingthepossibilityof implementingeitherSAPERPingeneralortreasuryapplicationsfromSAPinparticular,aswellasthosewhoarealreadyengagedinitandwanttoknowhowtoorganizetheprojectandtheproject’smostimportantaspects.
16
Preface
Finally,thebookwillhelpthoseconsultantswhowanttolearntreasuryandSAPFSCM,orwhoarealreadyworkingonanimplementationprojectandwanttoenhanceknowledgeorresolvespecificissuesandquestions.
How to Use This Book
Everyauthordreamsthatthosewhobuythebookwillreaditcovertocover.Ifyouboughtthisbookandhavethatintention,congratulations.Amorerealisticapproach,however,istoprovidereaderswithatableofcontentsandsomeguid-anceonhowtousethisbook.
Withthatinmind,considerthefollowinginformation:
EE Ifyouareatechnicalconsultantwhowantstounderstandthetreasuryapplica-tionsfromtheperspectiveofthetreasurybusinessandprocesses,readChap-ters1and2,andthenbrowsethroughtheotherchapterstoseeif thereareparticularareasyouwanttolearn.
EE Ifyouareafinancialexecutivewhoisexploringfunctionality,readChapters1and 2, then read Sections 3.1, 4.1, 5.1, 6.1, 7.1, 8.1, 9.1, and all chaptersummaries.
EE IfyouareanITexecutiveconsideringanimplementationoftreasuryapplica-tionsfromSAP,readChapters1,2,and10.
EE IfyouareanSAPconsultantworkingonaspecificprojectandstrugglingwithaparticularissue,readChapters1and2,andthenusethetableofcontentstofindtheparticularsectionrelevanttoyourprojectorissue.
EE Ifyoucan’tfindtheansweryou’relookingfor,youcanalwaysfindmeonFace-bookorLinkedIn.Imaybeabletogiveyoutheansweryouneed,orpointyouintherightdirection.
Withthatsaid,Iwishyougoodluckinyourlearningexperience;Ihopeyoufindwhatyouarelookingforinthisbook.Let’sgetstarted….
© 2014 by Galileo Press Inc., Boston (MA)
17
Acknowledgments
ThankstomylovingandsupportivewifeAndrea,andmybelovedkids,PaulinaandDavid,fortheirenormouspatienceduringthemanyweekendsandnightsIspentworkingonthebook.
ThankstomyparentsLourdesandEleazarfortheirloveandforsupportingmyeducationandgrowth.
Thanks tomygrandmotherMariaLuisa for teachingmethefirst thingsaboutmoneyandbanks,andforherloveandsupport.
ThankstoCraigJeffery,whohasbecomerecognizedasanexpertintreasurytech-nologyandstrategyandisaveryactivethoughtleaderonLinkedInandotherweb-sites(likehisfirm’satwww.strategictreasurer.com),forkindlyprovidinginformationaboutmanyofthetreasurytechnologyplatformsavailableonthemarket.
Eleazar Ortega Van Steenberghe
© 2014 by Galileo Press Inc., Boston (MA)
19
This chapter covers the importance of international cash management and the impact of the global liquidity crisis on the role of the treasurer.
1 Business and Functional Overview
Inthischapter,wediscusstheimportanceofinternationalcashmanagementandtheimpactofthegloballiquidityandcreditcrisisonstrategic,operational,gover-nance,andregulatoryissues,includinghowtechnologycanbeusedasanenabler.
1.1 International Cash Management
Thissectionexplainswhytreasurersshouldunderstandinternationaltreasurypro-cesses,includingwhatthoseprocessesareandhowtherecentfinancialcrisismadetheirimportancemoreevident.
1.1.1 Growing Importance of International Cash Management
Thefinancialcrisesofthepast15yearshaveshownhoweconomiesandmarketsareconnected.Thosewhohavechosentoignoretheinternationalenvironmentandfocusontheirlocalmarketshavebeenblindsidedwhennewchallengesoropportunitiesariseandhadtopaybigpremiumsduetoalackofliquidityintheirdomesticmarkets;thosewhohadliquidityandignoredtheglobalmarketsmissedoutongoodinvestmentreturns.
Tounderstandtheglobalfinancialmarkets,takeadvantageofthemeffectively,andminimizefinancingcosts,itisfundamentaltounderstandhowtheywork,whothemainplayersare,andwheretheyarelocated.Itisalsoimportanttounderstandthefollowing:
EE Regulatory factors Internationalmarketsareoftensubjecttoparticularregulationsthatcontrolthetransfersofcashbetweenbanks,companies,andcountries.
20
Business and Functional Overview1
EE Tax factors Cashflowsandprofitscanbetaxableinyourlocalcountryorinthecountrywherethetransactionstookplace,andsometimesboth.
EE Risk factors In addition to those risks associated with investing in a particular security,internationaltransactionsposetheriskofcurrencyfluctuationsthatcansignifi-cantlyhurtorimprovethemarginsonatransaction.
EE Technological factors PaymentsystemssuchasSWIFT,EDI,andotherscanmakeabigdifferenceinthewaycashflowsareexecutedandtracked.
EE Accounting factors NormssuchastheInternationalFinancialReportingStandards(IFRS)canlookatvaluations,profits, losses, andhedging in adifferentway thanyour localaccountingrules.Thismayaffecthowthesetransactionsarereflectedinfinan-cialstatementsandhowaretheyperceivedbyshareholdersandother inter-estedparties.
Beginningwiththischapter,thisbookwillgiveyouareasonableoverviewofallofthesefactorsinawaythatwillhelpyouunderstandwhatyouroptionsareandwheretogowhenyouhaveadditionalquestions.
1.1.2 Key Business Processes in International Cash Management
Alltreasurydepartmentsaroundtheworldhavetoperformthefollowingfunc-tions,regardlessofwhethertheyoperatelocallyorinternationally:
EE Bank relationship management Thisinvolvesopeningbankaccounts,negotiatingfeesandrates,andsettingupaccounts in the treasury and accounting systems. It also involves setting upcommunicationswiththebank,eitherelectronicallyoroverthephone.
EE Cash management Although theaccountspayableand receivable functionsare segregated fromtreasury in most companies, treasury has some oversight activities, such asmakingsurethebankinginfrastructureenablescustomerstopayandcollectorstorecoveraccountsefficiently.Italsohelpsaccountspayabledepartmentsto
© 2014 by Galileo Press Inc., Boston (MA)