Automated ERP Connectivity, Financial Reporting, & Reconciliations
With TIS, Accounting teams that leverage an ERP or similar software to manage their company’s reconciliation and GL posting functions benefit from our seamless data integration of the bank reporting necessary to automate these processes. Because TIS manages connectivity to all an enterprise’s banks and can integrate with any ERP or back-office system, accounting teams can receive bank statements, cash reports, and payment statuses in real-time from all entities and accounts globally. This eliminates the headache of having to manage bank connections directly within the ERP or the need to download the necessary reports directly from e-banking portals. It also enables a fast and effective reporting process as statements flow automatically into accounting’s associated software platforms.
The result is that accounting teams always have fast and easy access to all the financial information they need to perform their core responsibilities, provided directly within the platform of their choice. Click on each of the below benefits to learn more.
Integrate Global ERP Systems with TIS to Achieve Straight-Through-Processing of Payments, Banking, & Cash Data
Today, most global accounting teams operate with at least one Enterprise Resource Planning (ERP) system in place. Although these ERPs are usually where the bulk of financial reporting, payments, and accounting operations occur, these systems also require significant upkeep and maintenance from both internal IT teams and external support staff. To make matters more challenging, many companies that attempt to undergo ERP migrations to newer or more sophisticated platforms often face a myriad of challenges with maintaining continuity of their financial processes during the migration, as well as fully capitalizing on the process improvements made possible by modern cloud ERP platforms.
With TIS, ERP implementations and migrations are made monumentally easier. This is because our cloud platform can seamlessly connect to virtually any bank and account your organization uses on a global scale. Our integrations also enable quick and effective plugins to ERPs to provide a single point of communication for your company’s entire portfolio of banks. The result is a simplified model for achieving straight-through-processing of payments and reporting to and from these banks. Our team manages the bulk of configuration, with the ultimate result being that critical tasks including payments and cash visibility can be effectively managed during the implementation / migration and well beyond — without the need for laborious IT projects or manual upkeep.
Automated Reporting That Enables Real-Time Visibility to Global Cash & Payments Data
TIS’ suite of bank statement, payments, and cash reporting capabilities enable Accounting to maintain near-real-time visibility to their organization’s global cash positions, bank account balances, and payments activity. This includes activity across different entities, banking networks, and countries / currencies, as well as different ERPs and back-office platforms.
Accounting teams can rely on TIS’ robust integrations with other back-office systems to transmit data into their platform of choice, including most ERPs like SAP and Oracle. Data can be pulled on demands through APIs or file-based integration methods of your choosing. Reports can also be easily generated and exported in simple formats like Excel and PDF. The data captured and transmitted by is comprehensive in scope, to the extent that Accounting can develop reports across virtually any metric or point of interest. The result is that practitioners always have real-time access to the entire suite of financial information they need, whenever they need it, all within the platform and file format of their choice.
Improve the Reconciliation Process with 360-Degree Visibility Over Banking Information, Including Drill-Down Granularity
Because TIS can instantly transmit global bank statements via straight-through-processing into Accounting’s ERP or associated software, the reconciliation process can be drastically streamlined and automated. With TIS, statements can be delivered in a variety of different formats to fit the recipient’s preference — including SWIFT MT formats as well as the ISO 20022 format and any other regional or bank-specific variations. As a result of TIS’ award-winning integrations with global banks and multi-ERP corporate environments, Accounting’s reconciliation and bank statement reporting processes can be executed in a streamlined, automated, and controlled fashion.
Protect Against Fraud & Security Exposures with Multifaceted User, System, & Payment Controls
For organizations with a complex and high-volume banking, payments, and financial reporting structure, the risk of security breaches can become significant. This is especially the case for companies that lack a standardized approach to managing global data, payment processing, and system / user authentication. Today, bank account and payment data are particularly sensitive, which is why TIS has made security a crucial component of everything we do. To maximize global security and compliance, our software is tested and audited rigorously and repeatedly. This has led to TIS receiving multiple security certifications from leading providers such as SWIFT and SAP. In addition, we also maintain ISO 27001 compliance and SOC I / II certifications, which are renewed annually.
Uncover More Accounting Benefits with TIS
If you would like to learn more about the benefits and advantages that TIS affords to our clients and users, download our solution guide for a complete review of our capabilities! You can also review active client success stories and product factsheets in our resources hub. To view a demo or speak with a product expert, contact us using the below form-fill. We hope to hear from you soon.
