American Express and SAP will collaborate on an
integrated product that simplifies payments automation, the two companies said
on Oct. 19.
The offering will combine American Express’s Buyer
Initiated Payments product with SAP’s Process Integration (PI) technology
available on the SAP NetWeaver platform. The integration of American Express
technology into SAP Netweaver will allow SAP customers to process electronic
payments seamlessly, according to the companies.
The joint American Express/SAP product will feature a
"plug and play" utility for SAP customers to set up electronic payments
quickly, the companies said. The PI technology maintains payment data
integrity, workflows, and approval process that customers are already running
on SAP. The integrated Buyer
Initiated Payments/PI software is expected to be available in the first quarter
of 2011, but will be available to SAP customers in the United States only, said an American Express spokeswoman.
Many enterprises have multiple system interfaces between
their own enterprise resource planning systems and the systems belonging to
their banking partners and suppliers, often depending on custom development to
link everything together. According to the statement, maintenance costs can be
high, averaging anywhere from $50,000 to more than $500,000 for large global
corporations.
By integrating payments solutions with SAP’s existing ERP
system, corporations can enhance controls, optimize the timing of their payments,
and gain improved visibility into cash flow, the companies said. The solution will provide
a single interface with improved financial connectivity to external suppliers,
financial institutions, and other internal systems.
For more, read the eWeek article SAP NetWeaver, American Express Team Up on Automated Payments Model.
