BROOKFIELD, Wis.--(BUSINESS WIRE)--Feb. 10, 2020--
Business-to-business companies around the world have the opportunity to improve working capital, increase operating efficiency, and continue their digital transformation through an integration of technology from Fiserv, Inc. (NASDAQ: FISV) and SAP® SE (NYSE: SAP).
This combination makes it simple for B2B firms to offer digital payment methods to their customers by bringing together two cloud-based solutions: SnapPay®, an enterprise payments application from First Data, now Fiserv, and SAP digital payments add-on.
Many Fiserv clients are already reaping the benefits from this integration. Brewster Home Fashions, one of the largest global producers and distributors of home decor, uses SnapPay and has successfully migrated to SAP S/4HANA® and SAP ERP with SAP digital payments add-on.
“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,” said Daoud Ali, Executive Director of IT at Brewster Home Fashions. “The solution is flexible, efficient and has given our customer service team a new sense of empowerment.”
SAP digital payments add-on helps enable credit card and other digital payment methods subject to the Payment Card Industry Data Security Standard (PCI DSS). Companies running any variant of SAP order or sale-to-cash processes (B2B, B2C, point-of-sale, web) can integrate to certified payment service solutions, including SnapPay, with flexible access to multiple digital payment methods.
“The SnapPay integration with SAP digital payments add-on helps meet the unique needs of B2B and B2C customers,” said Dr. Oliver Kroneisen, vice president and head of Financial Operations Development at SAP. “Brewster Home Fashions exemplifies how our continued commitment benefits customers.”
A flagship Fiserv enterprise payments solution, SnapPay is built to serve the accounts receivable and accounts payable needs of large and mid-sized companies. Through integration with SAP ERP Central Component and SAP S/4HANA, SnapPay facilitates card, Automated Clearing House (ACH), and new digital payment methods. The solution also digitizes labor-intensive corporate treasury operations into a real-time, automated, and secure experience.
“Improving working capital is a top priority for most businesses,” said Suhas Gosavi, senior vice president, B2B Payments and eCommerce at Fiserv. “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.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
First Data is now Fiserv.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE®500 and is among FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
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Source: Fiserv, Inc.
Director, External Communications