Bank VAN: everything you need to know!

The routine of the finance department of many companies is stressful, since the operations carried out daily can demand a lot of time and attention, and any error can have consequences that have a major impact on the business.

So, why carry out the accounts payable and receivable routine, for example, by accessing the internet banking of each of the financial institutions with which the organization has a relationship and manually entering the data into SAP Business One?

Yes, there are simpler ways to integrate SAP B1 into banking operations carried out by companies, automating processes, reducing errors and also ensuring compliance with the LGPD.

In this article, we explain everything you need to know about VAN Bancária and why it is so important to have this feature available in your banking module.

Happy reading!

What is VAN Banking?

VAN is the acronym, in English, for Value Added Network, that is, Value Added Network. In practice, this is a tool that makes it possible to automate a company's relationship with the various financial organizations with which it has a relationship.

VAN works as a two-way street to manage and exchange information with banking institutions in a unified, secure manner and without the need to leave SAP or check and enter financial information manually into the ERP.

If, to perform bank reconciliation, professionals in the financial sector need to access each bank's internet banking, carry out all the necessary operations and collect, enter or check the information manually in SAP, there is a great waste of human and financial resources in the routine, even increasing the chance of errors and involuntary tax evasion.

This problem can be easily mitigated with the help of a banking module that has integration with VAN Bancária, as is the case with BankPlus.

Advantages of using VAN Bancária

By having VAN Bancária integrated with the SAP Business One banking module, businesses only have to gain:

• Saving working time and increasing productivity: the team will save time by no longer having to manually perform operations that can be automated;
• Error reduction: A comma typed in the wrong place can have a catastrophic impact on your budget. This does not happen when the system itself performs the operation.
• Predefined layouts: With VAN integrated into the banking module, information traffic can occur in a variety of predefined layouts. This speeds up bank reconciliation, concentrating it in SAP.
• Security: By automating your financial operation through a VAN integrated with the banking module, in addition to avoiding errors, it is also possible to add an extra layer of protection to the banking data of the business and its business partners.

How does VAN Bancária increase company security?

The General Data Protection Law (LGPD) made the control and exposure of sensitive data of individuals and legal entities more rigid, meaning that companies needed to adapt their operations in order to preserve this confidential information.

Once again, the Banking VAN comes to help in this process, after all, the transactions carried out through it can be tracked, since they occur through an EDI network (Electronic Data Interchange). Only authorized people can send and receive information and there is end-to-end encryption, which guarantees data integrity.

Do you want to know a little more about BankPlus' Banking VAN and how it can change the financial area of companies?

Talk to our team of experts!