The connectivity between your banking partners and ERP systems is a strategic necessity. Seamless integration is crucial for real-time visibility into cash positions, streamlined processes, and enhanced decision-making capabilities. 

Here are the top tips for achieving a robust, efficient, and secure connection between your bank and ERP systems:


1️⃣ Prioritise Security and Compliance: Ensuring the security of your financial data during transmission and storage is paramount. Opt for solutions that offer end-to-end encryption and adhere to global security standards. Regularly review your security policies and compliance measures to keep up with evolving threats and regulatory requirements.

2️⃣ Embrace API-Led Connectivity: APIs have transformed the way systems interact, offering more flexible, real-time data exchange between banks and ERP systems. Leveraging API-led connectivity can reduce the reliance on batch processing, enabling more timely insights into cash positions and financial exposures.

3️⃣ Ensure Data Integrity and Accuracy: The foundation of effective treasury management is accurate, reliable data. Implement robust data validation rules both before sending data to the bank and after receiving it in your ERP system. Regularly audit your data flows to identify and rectify any discrepancies or inefficiencies in your data exchange processes.

4️⃣ Streamline Bank Communication Formats: With the myriad of banking formats and standards globally, standardising your communication formats can significantly reduce complexity and improve efficiency. Consider adopting ISO 20022, a global standard for financial messaging, to facilitate smoother communication with your banking partners.

5️⃣ Invest in Scalable Solutions: As your business grows, so too will your banking and financial management needs. Opt for connectivity solutions that are scalable, able to easily accommodate additional banking relationships, currencies, and regulatory requirements without significant overhauls.

6️⃣ Leverage Cloud-Based Solutions: Cloud-based ERP and banking solutions can offer enhanced flexibility, scalability, and resilience. They often come with built-in connectivity capabilities, reducing the need for extensive custom integration work and enabling easier updates and maintenance.

7️⃣ Engage in Regular Reviews and Optimisations: What works today may not suffice tomorrow. Regularly review your bank and ERP connectivity setup to ensure it still meets your operational needs efficiently. Engage with your banking partners and ERP vendor to explore opportunities for optimisation.

8️⃣ Foster Strong Relationships with Your Banking Partners: Effective communication and collaboration with your banking partners are crucial. Regular discussions can help you stay abreast of new features, technologies, and changes in banking regulations that may impact your connectivity solutions.

How TreasuryONE Can Help?

TreasuryONE’s Connectivity-as-a-Service solution provides clients with a single point of access to multiple payment systems, streamlining processes and enhancing efficiency.

By reducing the risk of manual errors, optimising payment processing capabilities, and minimising the time spent managing connectivity with multiple banks, our solution help clients achieve their objectives.

  • We are specialised experts in connecting bank and ERP systems, which helps ensure that the integration is implemented and maintained effectively.
  • With seamless integration, data can flow between the systems automatically, reducing the need for manual data entry and minimising errors.
  • Agnostic of ERP, banks or financial systems, we can connect to any bank and system using the latest technology and supporting API functionality.

???? How many bank accounts do you manage?

Morne Klynsmith, Director & Head of Treasury Technology