If it is a manual process, can files/data be tampered with? With BankFabric, your business can select between three options to automate and secure the process; SFTP, APIs or, through Web Services.
SFTP (SSH File Transfer Protocol) is a proven communications technology. It is supported by most banks, enabling automated communications. With SK Global’s solution you can initiate payments from within either Microsoft Dynamics 365 Finance and Supply Chain or Business Central to the bank. BankFabric eliminates the need to login to a bank’s website. Our solution ensures validation and secure file transfer to any bank and enables automated import of bank data for auto-reconciliation. BankFabric will allocate bank files correctly within your Dynamics F&SC or BC environment, across any number of legal entities. SFTP functionality is built directly into BankFabric which allows you to enjoy a direct Host2Host communication line with the bank.
While not yet supported by all banks, this will likely prove to be the future means of communication to/from banks! APIs do not rely on files to transmit banking data, but rather just a stream of relevant information. They are highly secure since there is no file that might be left in an unprotected location. APIs are very easily setup and administration is minor. Once the API has been developed between the ERP and the bank, it’s smooth sailing.
Web services have been used for a number of years. They do not have widespread adoption and generally have only been supported by banks in Northern Europe. Just as with APIs, Web Services allow for fully automated communications between you and your bank. You will have a tighter integration as Web Services contain both a security certificate exchange, and the exchange of files in the same process. Web Services require more extensive coding to initially develop but are easy to set up and administer.
If you prefer to upload/download bank files manually, this is also supported. You can drop files into BankFabric and still enjoy all the added automation and features within our Banking and Treasury Suite, within Microsoft Dynamics 365 for Finance and Supply Chain.
In a Microsoft Dynamics 365 for Finance and Supply Chain production system there is no access to the underlying virtual machine and external data transfer. With this pain-point in mind, we created the BankFabric solution to provide direct bank communications, file encryption and APIs between your Microsoft Dynamics 365 system and your banks. With BankFabric, you can automatically and securely connect directly to any bank in the world to process and match payments, reconcile statements, handle Direct Debits, and more. BankFabric can be configured for automated bank communications across all legal entities within your Microsoft Dynamics 365 Finance and Supply Chain ERP system, to as many banks as you are working with, globally.
Secure and automate your bank communications and start optimizing essential financial operations activities today!
Call our experts today and hear how you can empower your Accounting Team!
SK Global Software
We are the leading Microsoft Dynamics ISV, providing solutions and expertise around Banking, Treasury, and Payment Automation for Microsoft Dynamics 365 for Finance and Supply Chain. Our Microsoft Dynamics 365 solutions and services help organizations worldwide save time and money by automating key processes, increasing efficiency, and reducing risks.
– Microsoft Dynamics Certified ISV
– Our software serves an extensive customer base world-wide
– Scalable solutions that automate financial processes in any industry
– Our solutions are used in more than 80 countries
– Providing global bank communication
Contact us today to learn why companies, small to global enterprises, choose SK Global Software. Call our experts today and hear how you can empower your Accounting Team!
SK Global Software EMEA +184.108.40.206.75 US +1.301.963.7300 Sales@sksoft.com www.sksoft.com