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Switch to the New Cash Management Process

The New Cash Management Process

Starting in 2018, we began redeploying our award-winning treasury management system with new technology and a new interface. The new interface offers a faster and more accessible user experience. The new technology allows for the full automation of features and greater integration of functionality across the platform. And as part of this ongoing project, we are pleased to offer the new cash management process.

The new cash management process offers greater functionality, along with all the advantages of the new Coupa Treasury interface. If you are used to the classic cash management process, you will notice that some features are not part of the new workflow. Other classic features are deployed differently and others are obsolete in the new process. There are also differences in the availability of filters and columns.

Daily cash management involves many repetitive tasks which can be time-consuming and prone to error. A goal of the new cash management process is to automate as many of these tasks as possible. With this automation, users are better able to focus on the important decisions of daily treasury operations.

This document lays out the main differences between the classic and the new cash management processes so that you can see what you need to know before you switch. The How to Switch section contains an instruction, how the new functionality can be used. Under Prerequisites, you can see any requirements which must be in place before you can use a feature in the new cash management process. The Testing Requirements section describes essential functionality which must be tested properly before adjusting the entire process. Under What You Get, you can see some of the exciting new features which are only available in the new cash management process, as well as features which are not yet available for the new process.

All pages in the new cash management process are built in the new Coupa Treasury interface. This allows you to leverage the new interface features for daily cash management:

  • Multi-level grouping for tables
  • Flexible column order
  • Automatic table refresh
  • Add charts to tables
  • Bulk actions, such as export, edit, and delete
  • Import with Excel templates
  • Share your page layout with other users

For more details about how your organization can benefit from the new process, contact your Coupa representative. For a community-driven conversation about Coupa Treasury, visit the Treasury area of Coupa Community. Details of the new features described here are also available in the Coupa Treasury in-app help.

How to Switch

The new cash management process has several components:

  1. Account Statement Handling
  2. Cash Flows
  3. Reconciliation
  4. Account Balances
  5. Cash Worksheet

In general, you can activate these components independently. There is an exception for Reconciliation, explained under Prerequisites, below.

Components activated in menu settings are all found under Module > LM on Menu Settings.

Component How to Switch

Account Statement Handling

  • Automated import: Contact your Coupa representative.
  • New Account Statements page: Activate in menu settings.
  • Account Statement Analysis: Activate Account Statement Analysis in menu settings.
Cash Flows
  • New Cash Flows page: Activate Cash Flows (new) in menu settings.
Reconciliation
  • Reconciliation Rules: Contact your Coupa representative.
  • Manual Reconciliation: Activate Reconciliation (new) in menu settings.
  • Reconciliation Result: Activate Reconciliation Result in menu settings.
Account Balances
  • New Account Balances Page: Activate Account Balances (new) in menu settings.
  • Account Settings: Activate Account Settings in menu settings.
Cash worksheet
  • Cash Worksheet: Activate Cash Worksheet in menu settings.

Prerequisites

Before switching to the new process for importing account statements, there are some requirements to consider:

  • Hosting: The functionality is only available for customers in the ASP Hosting environment. There are certain exceptions, which your Coupa representative can explain in detail.
  • Formats: The account statement import currently supports the most used account statement formats (MT940, MT942, BAI2, Camt.053, Camt,054). For any other format, you can still use the classic import. Using both import solutions is possible, but only statements imported via the new process are available to manage in the new cash management process.
  • Reconciliation: For the automatic reconciliation to work properly, all your account statements should be imported via the new process. The new reconciliation process is only recommended for accounts using the new import.

Testing Requirements

Account statements are an essential part of Coupa Treasury. Missing data over several days can have serious consequences, so it is important to ensure that the adoption process runs smoothly. We recommend testing the following processes before moving to the new process:

  • Format variations: The classic import process supports many different format variations. When implementing the new process, we focused on supporting all of the essential formats. This means that some specific format variations might not yet be supported in the new process. Before moving to the new process, it is important to identify any gaps which may affect you.
  • Account Identification: The new cash management process identification logic uses both currency and identification code. This can differ from the classic behavior and will result in some Unknown Account errors. To help you resolve these issues quickly, we introduced the Account Statement Manager. 
  • Cash Flow Rules: When switching to the new process, you will need to revisit your cash flow rules. The new cash management process more accurately preserves the structure of account statements, as issued by your bank. As a result, some information may appear in different fields (e.g. some information which was previously shown in the payment reference can now be found in dedicated fields). 
  • Export: If you export statements for use in your ERP system, it is important to test this with the new process. Because the new export preserves the structure of the original bank files, they may be different from those exported through the classic process. Switching to the new cash management process may also change the classic export, so it is important to test both export methods.

What You Get

Account Statement Management

Fully automated import

Over time, the new account statement import will completely replace the classic import function. With it we aim for an import process which is exception driven and should only require your attention in case of errors. Error handling should be flexible and allow you to resolve exceptions easily. Detailed file logs allow administrative users to quickly identify the cause of any issues with your bank files.

Functionality

New Process

Classic

Account Identification: You can assign multiple account IDs to each account, allowing you to resolve mismatches between institutions.

Uniqueness: Upload of multiple statements with the same closing date is prevented.

✔ 

Identification based on CCY + ID + Closing Date

Identification based on ID + Closing Date + Statement Number

Error Handling: Actions within the system allow you to quickly resolve any issues with imported account statements.

✔ 

Messages: The system provides clear messages for each exception in the process, such as duplicate statements or unknown accounts. These messages allow you to find and resolve errors without having to look through your account statements.

✔ 

Automation: The account import process is fully automated and event triggered, requiring no action from the user and no Coupa Treasury Process Automation setup. 

The only exceptions are EBICS and FTX, both of which still require Coupa Treasury Process Automation

Intraday Statements: The system handles intraday statements as real statements, rather than merely creating forecasted cash flows. 

Update Intraday Cash Flows: The system automatically updates intraday statements with end-of-day statements.

Account Statements 

The new Account Statement page automates many manual processes from the classic page. Previously repetitive tasks, such as plausibility checks, are fully automated and notify you of any anomalies. Account statement information is easily accessible, including a handy details drill-down. The account statement export is also easier with bulk actions and an available scheduler. 

Functionality

New Process

Classic

Statement Management: The managing of account statements is limited to certain pages. This includes the deletion and reprocessing of imported files.

PDF Export: A new bulk action allows you to export one or multiple account statements as a single pdf.

Automated Plausibility Checks: The system automatically performs plausibility checks on all statements entering the system and informs users if a check fails. 

Export Original Format: The account statement export is available in the original format, as provided by the bank.

This functionality is limited to statements imported via the New Process

Export Format Conversion: The account statement export is available in selected formats (e.g. MT940), independent from the received format.

Bulk Delete: There is a bulk delete of account statements.

Intraday Statements: Intraday statements imported through the new process are visible on the Account Statements page.

Manual Statement Entry: Manual entry allows you to add multiple transactions to a manually entered account statement and automatically suggests consistent statement numbering and starting balances.

The classic functionality is limited to very basic options.

Cash Flows

The new Cash Flows page covers information about your realized and forecasted Cash Flows. Realized Cash flows enter the system from account statements, while forecasted entries can be either manually entered or automatically created by the system, such as cash flows from payments, deals, or settlements. Cash flows are easy to categorize and there is a transparent history for all information prior to reconciliation. Automated processes save you time by removing repetitive tasks, such as moving data to LMPlanning.

Functionality

New Process

Classic

Automated netting of Settlements: There is automatic netting for settlements, based on predefined settings.

The cash flow page allows manual netting of cash flows.

History: There is a way to show the history of your cash flows in the data table.

There is a history of reconciled cash flows on Reconciliation Result.

Import: There is an automated upload of cash flows. 

Only manual upload. 

Cash Flow Rules (CFR): The Cash Flows page supports a complete CFR workflow, including reprocessing and creating rules out of cash flows. 

CFR apply to cash flows, but there is no further functionality on the page.

In-House-Banking (IHB): The Cash Flows page supports in-house banking functionality, such as recorded export and booking info.

Import: The Excel import validates data upon upload. If there are any issues, the system provides a results file with the problematic fields highlighted.

Bulk Edit: The bulk edit functionality lets you choose how many cash flows and which fields to edit.

The classic functionality is limited to very basic options.

Currency Conversion: Conversion allows the user to see cash flows in any configured currency, including the entity currency or your group currency.

✔ (R31)

Planning Interface: Cash flows can be moved to planning data. 

✔ 

Recurring Cash Flows: Recurring Cash flows can be created manually. 

✔ 

Reconciliation

Reconciliation Rules

Rule-based reconciliation replaces the daily task of reconciling cash flows with a fully automated process. The rules are customizable and must be configured upon switching to the new process. Once configured, the rules run automatically whenever an account statement enters the system. You can review the result of the automatic reconciliation on Reconciliation Result, where you can also undo any unwanted matches.

Functionality

New Process

Classic

Full Automation: The reconciliation process runs automatically after the import of account statements, according to your defined rules.

✔ 

Substring Matches: Rule-based reconciliation is able to reconcile based on payment reference substring matches.

(✔) 

The semi-automated classic reconciliation functionality is able to match based on payment reference substrings.

Manual Reconciliation

The Manual Reconciliation allows you to reconcile cash flows which are not reconciled by your defined rules. To help with the process, the page gives you proposals for expected matches. You can also undo any erroneous or unwanted reconciliation. 

Functionality

New Process

Classic

Undo: It is easy to undo cash flow reconciliation based on both automatically and manually reconciled cash flows.

Split: The functionality to reconcile and split a transaction is available.

Smart Filters: Additionally smart filters support manual reconciliation. 

Semi-Automatic Reconciliation: The function to manually reconcile multiple cash flows at a time is available. 

Reconciliation is fully automated, as defined by rules.

Reconciliation Result: Provides full visibility into the results of the reconciliation process.

Intraday Statements: Cash flows based on intraday statements can be manually reconciled.

Intraday statements imported via the new process are reconciled automatically. 

Delta: It is possible to create a delta cash flow during reconciliation.

Balances

The Account Balances page is built to provide full transparency into the state of your accounts. Account settings allow you to select the way your account balances are calculated, providing the flexibility to accommodate different types of bank-provided information. While checking your balances, you can also see any balances which may not be up to date due to missing statements or inconsistencies.

Functionality

New Process

Classic

Flexible Calculation Methods: Account settings let you decide which calculation method applies to each account. 

Booked Balances: Both calculated booked balances and booked balances from account statements are available.

Float: For accounts which receive BAI bank statements, you can include floats in your balance calculation and show them in the drill-down.

Delta: There is a delta shown between balances.

The drill-down shows the opening and closing balances, along with the totals from all balance-relevant cash flows.

Currency Conversion: Conversion allows you to see account balances in any configured currency, including the entity currency or your group currency.

Balance-relevance: By automatically recognizing balance-relevant cash flows, it is easy to see your balances without cleaning up old planning data. Forecasted cash flows are flagged as balance relevant until a statement with the same or a later closing date arrives.

Up-to-Date Checks: Up-to-Date checks for each account allow you to immediately identify missing account statements.

Reconciliation Status: The table shows whether there are any unreconciled cash flows for each account in your table.

Drill-down: The drill-down shows details of your account balances, including planned cash flows and transactions.

Cash Worksheet

The new cash management Worksheet is a centralized tool for cleaning up yesterday's reconciliation, finding inconsistencies in the forecast, intraday reconciliation, and getting to today's cash position. You can also easily adjust your forecast - all in one page.

More details on the Cash Worksheet will follow soon on this page.

 

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