Integrating ERP data in your commercial banking solution

Modern commercial banking software should be able to communicate with systems from clients. This can result in much better user journeys for small and medium-sized businesses. The integration should be secure, easy to control for users, and deliver clear value for companies and the bank. TreasurUp is frontrunning ERP integration together and for its partner banks.

How to connect with your clients?

Treasurers and controllers often use ERP/bookkeeping data when making decisions or creating reports. A few examples where ERP data is used:

  • FX Hedging – in deciding how much to hedge based on foreign currency invoices and orders
  • Cash Forecasting – in determining expected short term cash flows from invoices and orders
  • Working Capital Optimization – in attempting to shorten days sales outstanding by analyzing payment terms and behavior

Therefore, ERP connectivity is vital in building a solid commercial banking solution that promotes automation and efficiency. With that in mind, we have designed and developed all TreasurUp’s solutions (modules) to fully support and handle ERP integration.

For corporate clients of the bank, this makes it possible to automate processes and make better decisions. ERP data is automatically analyzed, processed, and prepared for transaction execution in line with the company’s treasury policy.

For the bank, ERP integration means retention, potentially a higher transaction flow and satisfaction, as well as better-performing clients – automated risk management based on policies, can improve a company’s credit rating. ERP integration allows a bank to directly offer products such as FX derivatives, factoring, and credit insurance on invoice level.

It is complicated to develop a one-size-fits-all connector for ERP integration. There are hundreds of different ERP providers. Part of them are run on-premise; next to that, the market is seeing a steep increase in ERP cloud solutions. On top of that, a lot of companies customize their ERP to their specific business or sector needs.

TreasurUp aims to solve with its “Swiss army knife” approach. This approach will make it easy for banks to establish connections with every ERP platform platform across the world. There are three main features making this possible:

  • On-premise ERP platforms – Companies can download and install a pre-configured ERP collector – developed by one of our partners – which directly sends the ERP data to TreasurUp.
  • Cloud-based ERP platforms – Companies can activate the flow of data between their cloud ERP and TreasurUp by approving the connection in an online interface. This interface has been developed by one of our partners.
  • TreasurUp’s REST API – Companies with some technical expertise can generate their API credentials in your TreasurUp white label solution and directly push or retrieve information using our REST API.

TreasurUp expects to see a steady increase of companies that request connectivity with their bank. An increasing number of finance departments at small and medium-sized businesses want to automate their repetitive manual processes. TreasurUp’s solution truly helps banks to establish ERP connections fast and efficiently. Furthermore it also makes the bank much more competitive if these services can be offered in a simple and fast way to its clients.

Is your bank looking for a state-of-art commercial banking solution with extensive ERP integration? We would be happy to present and explain our vision on ERP integration.

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