alseda PRE VOP – Pre-Verification of Payee
FACT SHEET
More information about the alseda PRE VOP solution for companies.
alseda PRE VOP – The Pre-Verification Solution for SEPA VOP (for companies)
(Here: The solution for banks)
Why VOP is now relevant for companies
Many companies have recently opted to use the opt-out option for VOP (Verification of Payee). This may seem sensible in the short term to circumvent the complex and sometimes still somewhat immature VOP processes.
Long-Term Strategy: Fraud Prevention Through Validation
In the long term, however, companies should leverage the opportunity offered by VOP to proactively prevent fraud. Using this function requires two essential steps:
1. Initial Data Cleanup: Existing bank account details for customers, suppliers, partners, and employees must first be reviewed and cleaned.
2.Ongoing Validation: When creating new business accounts, the IBAN and account holder name must be verified immediately.
The alseda PRE VOP Solution
The alseda PRE VOP solution offers an integrated solution for both scenarios: It supports both the initial cleanup of large amounts of data and the real-time verification of new account details.
Solution Highlights:
The software is fully integrated into the SAP standard and offers a fully automated process:
Seamless Integration: Out-of-the-box connection to the SAP standard.
Intuitive Use: Use of standard SAP functions for logging, authorizations, etc.
- Central Administration: A user dashboard for administration, reporting, and analysis of all processed transactions (including history).
- Master Data Maintenance: Option to automatically transfer the returned, correct account holder (in case of a close match) into the master data of the account connection.
- Flexibility: Manual individual verification as well as automated mass verification of account information.
Integration Options in SAP Applications
The alseda PRE VOP solution can be integrated into the following standard SAP applications:
- SAP BP (Business Partner)
- SAP BCM (Bank Communication Management)
- SAP MBC (Multi-Bank Connectivity)
- SAP APM (Advanced Payment Management)
- SAP IHB (In-house Bank)
- SAP TR (Treasury Management)
- SAP FI (payments/ Accounts Receivable/ Accounts Payable)
- SAP CA (Customer Accounts)
- SAP HCM (Human Capital Management)
Operating Environments
The solution can be flexibly deployed in:
- Public Cloud
- Private Cloud
- SaaS (Software as a Service)
- S/4HANA On-Premise
Contact us for more information at infomail(at)alseda.com