In an interview with the TREND REPORT editorial team, Lars Heucke, CEO at nexnet, explains how digital transaction processes can be simplified through automation.
In the age of Industry 4.0, products and solutions live in and from their digital ecosystem. This means that product-related services will become increasingly important in the future thanks to the IoT. The subscription economy with its digital online strategies and stores is on the rise. Mass bookings in the form of very small amounts and the associated payment and clearing services need space.
What to do when bookkeeping becomes a challenge?
In addition, daily accounting requires attention so that the figures are correct at the end of the month. In this context, our conversation with Lars Heucke picked up speed: "At some point, new medium-sized start-ups reach a number of transactions that they can no longer cope with, where the bookkeeping, to put it casually, flies around their ears."
He continues: "It's not just about the payment process, which is a major challenge in itself. Charge-backs, cancellations, credit notes, vouchers etc. create additional complexity that is difficult to get to grips with."
Bound to international standards and guidelines
Global players are also bound by international standards and guidelines and must, for example, firmly anchor SOX compliance in their corporate culture. Lars Heucke emphasized in this context: "We also set up an internal control system, including monitoring and documentation, for DAX companies, for example. Once a year, the auditor comes to us for two weeks and carries out an intensive audit."
With this in mind, nexnet's experience in business process outsourcing (BPO) provides the necessary expertise and processes to handle masses of transactions. The SAP R3 FI/CA module has been continuously developed into a compatible solution that also serves required interfaces such as the REST API. The solution docks onto the customer's backend or store systems for this purpose. "Every paid purchase transaction," says Heucke, "is posted to our SAP systems at the same time."
Standard solution from the cloud
Heucke continues: "We first receive the sales bookings via our standard solution from the cloud and then receive the settlement information from the payment service providers (PSPs)." "We now have almost 40 PSPs connected and receive the information directly online or via the PSPs' corresponding interfaces. We then post the settlements at the same time so that we can see how large the receivables are and check the income from the PSPs and thus the payout to our customers."
Another advantage of nexnet's BPO approach is the assumption of responsibility for monthly financial statements and accounting evaluations. Heucke explains: "If there are errors in the data, we have to correct them, after consulting with the customer, so that the monthly financial statements really fit, are explainable and can be accepted, i.e. they show everything that is necessary in the reporting."
To the article in the TREND REPORT: https: //trendreport.de/?p=10442
