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00:00:00 – 00:14:49
The video provides an in-depth overview of SK Soft's banking automation solutions for Microsoft Dynamics 365 Business Central, primarily facilitated through the Bank Fabric tool. The solutions enhance efficiency and security in banking communications via encrypted SFTP or API connectivity. Key features highlighted include:
1. **Direct Banking Connectivity**: Automates secure data transmission between Business Central and banks.
2. **Vendor Payment Processing**: Streamlines payment workflows, allowing electronic payments directly from the payment journal, with capabilities for automatic remittance advice generation and payment correction.
3. **Bank Reconciliation**: Facilitates daily and monthly reconciliations, with reduced manual intervention, through automated bank statement imports and predefined transaction postings.
4. **Positive Pay Transmission**: Prevents check fraud by automating the transmission of check-related data to banks.
These solutions collectively aim to reduce fraud, streamline financial processes, and increase operational efficiency in global banking.
00:00:00
In this segment of the video, the presenter discusses SK Soft’s global banking automation solutions for Microsoft Dynamics 365 Business Central. The solutions focus on delivering banking automation through four primary instances:
1. **Direct Banking Connectivity**: This is the foundational component, achieved through a tool called Bank Fabric, which automates banking communications using SFTP or API connectivity to ensure encrypted data transmissions between Business Central and the client’s bank. Bank Fabric also stores files securely, preventing the need for local storage and protecting banking information.
2. **Vendor Payment Processing**: Steve will demonstrate how to automate vendor payment workflows within Business Central.
3. **Bank Reconciliation**: The solution improves the efficiency of bank reconciliation processes by leveraging Direct Banking connectivity.
4. **Positive Pay Transmission**: Steve will show how the solution simplifies and reduces the manual processes involved in positive pay file transmissions.
Bank Fabric plays a crucial role by pulling bank statement transactions and vendor payment files automatically, ensuring robust integration with banks.
00:03:00
In this segment of the video, the speaker discusses the capabilities of a banking integration network featuring over 170 integrations and thousands of payment specifications, which streamlines the setup and transmission processes while reducing fraud. The focus then shifts to automating vendor payment processing workflow within Business Central. The module allows electronic payments to be sent directly from the payment journal. The process involves three steps: populating the journal using the ‘suggest vendor payments’ function or manually, transmitting payments via the SKG send payments functionality, and generating remittance advices to notify vendors of outgoing payments. Adjustments to payment methods can be made within the payment journal. Finally, once payments are validated and sent using Bank Fabric, remittance advices are issued, and any corrections, such as fixing incorrect routing numbers, can be managed as needed.
00:06:00
In this segment of the video, the speaker discusses an improved vendor payment solution and bank statement integration process. They explain how the enhanced process allows correcting and retransmitting payments directly in the payment journal without needing to financially void the payment first, unlike standard processing. The next step is to post the journal after sending remittance advice, which can be done automatically via email. The process is streamlined by notifying vendors after transmitting the payment to the bank.
The segment then shifts to demonstrating the bank statement integration solution, highlighting the SK Global bank statements page where daily transaction statements automatically appear. This page also indicates if statements have been imported into the bank account or payment reconciliation journals. The bank account reconciliation page shows how automatic creation and matching of bank account reconciliations work, including the posting of predefined transactions like bank fees or interest. The streamlined process aims to facilitate daily and monthly reconciliations with minimal manual intervention.
00:09:00
In this segment, the video discusses the bank account reconciliation process, including options for daily and monthly reconciliations. It explains how to import bank statements daily and reconcile them, with various automation levels ranging from manual to fully automated. The segment also recaps the SK global bank statement page as a staging area and outlines configuration options to enhance the efficiency of reconciliation.
Additionally, the video introduces the Positive Pay feature, highlighting its automation of data transmission to the bank to prevent issues like failing to cash valid checks. It reviews configuration options within the Positive Pay section, such as whether to send void checks and how to handle manual and computer checks.
00:12:00
In this part of the video, the speaker explains the process of posting checks in a journal and transmitting them to the bank. They cover various options for transmitting data, such as scheduled and manual transmissions, and highlight a feature where transmission can happen automatically based on predefined schedules. This segment also discusses the manual option for immediate transmission, particularly useful for voided checks. Additionally, the speaker recaps the positive pay solution, emphasizing its flexibility and automation. Finally, it is mentioned that the session demonstrated four banking automation themes: direct banking connectivity, vendor payment processing, bank reconciliation, and positive pay, all aimed at reducing fraud, streamlining processes, and increasing efficiency.