Fintech firm Fiserv and software firm SAP have integrated their technologies to simplify B2B payments.
The move combines cloud-based tools SnapPay from Fiserv and SAP digital payments add-on.
SnapPay is an enterprise payments app from payment processor First Data, which Fiserv acquired last year.
The SAP add-on supports digital payment methods required to adhere to the Payment Card Industry Data Security Standard (PCI DSS).
Fiserv B2B Payments and eCommerce senior vice president Suhas Gosavi said: “Improving working capital is a top priority for most businesses.
“To meet that need we innovated on our existing SnapPay integration with SAP solutions to make it even easier for clients to access payment services, reduce days sales outstanding, and automate back-office processes.”
SnapPay meets the accounts receivable and accounts payable requirements of businesses. Its combination with SAP ERP Central Component and SAP S/4HANA supports card, ACH, as well as new digital payment options.
Home decor producer Brewster Home Fashions is one of Fiserv customers utilising SnapPay, who leveraged the SAP add-on to move to SAP S/4HANA and SAP ERP.
Brewster Home Fashions executive director of IT Daoud Ali said: “The real-time integration of SnapPay with the SAP solution is enhancing our process efficiency, reducing our overall cost of doing business, and simplifying payment card industry compliance.
“The solution is flexible, efficient and has given our customer service team a new sense of empowerment.”