A new service from the software firm supports multiple payment methods, including wires and stablecoin-based transactions, the company said.
SAP is not the only ERP provider looking to bring payment capabilities into finance workflows.
ERP systems are evolving from traditional financial-management platforms into “payment command centers” as instant payments, treasury functions and financial automation move into day-to-day business workflows, according to a July white paper from the U.S. Faster Payments Council, an industry group.
Embedding instant payments into ERP workflows can give chief financial officers and treasurers more timely visibility into cash and liquidity while helping optimize working capital and reducing reliance on bank portals, manual uploads and reconciliation tools, the council said.
But instant payments also change the risk profile for companies. Because some payments are irrevocable, companies need stronger fraud controls, authentication frameworks and stop-payment protocols, according to the paper.
The paper cites Oracle and Microsoft Dynamics as examples of ERP platforms integrating payment capabilities directly into enterprise workflows.
“What differentiates SAP Pay is that by embedding payment execution directly into SAP Cloud ERP, we’re bringing payment execution, reconciliation, controls and auditability into the same workflow and the same business context,” an SAP spokesperson said.
SAP said its new payment feature supports electronic funds transfers including automated clearing house payments, wires and checks, as well as stablecoin-based settlement for cross-border transactions. S. K. A global distributor of networking and wireless broadband solutions is already using the service for supplier and treasury payments, SAP said.
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