How do you, as a corporate, know that every bank won’t use a different flavor of XML for payments?
It’s easy as a corporate to get caught in the standards trap. “Standards” such as EDI formats, had inherent differences that prevented full and similar adoption by all parties. How can you as a corporate know this doesn’t happen for XML formats?
Many banks and corporates are participating as part of the Common Global Implementation Market Practice group. This group started in 2010 and helps drive best practices for corporate-to-bank and bank-to-corporate communications. Both corporates and banks participate in this group, ensuring an adequate representation of all parties. For a complete list of members, click here.
After hearing this, are you more interested in considering XML payments as part of your global payments solutions? To hear more about how SAP solutions can help you take advantage of this trend join me for my session: “Demystifying the Payment Medium Workbench” at SAPInsider Financials2016 in Las Vegas.
Better yet, meet with me in private to ask me anything you wish about your payments strategies. Text: MeetAmber to 44222 to set up a private meeting with me at the SAPInsider Financials2016 conference. See you there!