ERP System Analysis-TD Bank Assignment Example | Topics and Well Written Essays - 2000 words

ERP outline Analysis-TD Bank - Assignment ExampleThis category of vendors has been estimated to be generating more than $ 3.0 billion in the banking sector any year in Canada (Eschinger and Dominic 34) 3. The other category of vendors which is not common in banks is the vendors serving small pipeline such as the SaaS ERP vendor which offers ERP actions of low-cost standards in order to attract large small pipeline segments. Vendors serving specific vertical industries provide ERP solutions to a wide range of industries such as retail, manufacturing, passe-partout services, fashion, and non-profit organization(Eschinger and Dominic 34) 3.. The Vendors providing hold source ERP solutions forms the greatest ERP market thus mostly attracts most banks to make use of it. Its open source scope has been increasing over the age and this is expected to continue increasing in the years to come. Vendors have been in the forefront in offering open source solutions to ERP systems. Despite the fact that traditional ERP systems which have already been licensed make the most part of the ERP market, the ERP open source scope has increase over the years and this trend is expected to continue in the years to come. ... However, the TD bank settled on SAP R/3 and CM as the most suitable ERP systems applications considering its situation (Eschinger and Dominic 97) 3. 3.0 ERP IN BANKING ERPs cashbook mainly deals with the processing of cash as well as reconciliation that offer one of the take up functionality breed among the various ERP systems. Cashbook provides a wide range of bank interfaces including (Dodds 34) 2 1. Bank Statement transfer This ERP application allows banks to upload and match open invoices mechanically on receivable accounts and goes further to ensure that payments are post to the payment column of the transit accounts and manual payments reflected on the general ledger accounts. 2. Bank Lockbox Upload lock box from any bank can be easily transferred int o its Cashbook after which it is processed automatically to end up in the ERP system. This enables the banks to handle deductions, short payments, bank charges, over-pays and cash receipts for inter-companies. 3. Electronic defrayal Files- Such files enable banks to conduct international payments all over the world, integrate BACSTEL-IP and find solutions to SEPA compliant. This also allows for ACH files payment. 4. authoritative Payment Files- This application allows banks to come up with positive file payments across nations. 5. Direct Debit Files- ERP systems suffer the creation of direct debit files from its data and upload the files into the software of the bank in question. Such files give birth all the information needed by the banks in collecting money from different customer accounts. 6. drawing off management Files AP & AR- These draft files comply with the local rules for banks and contain all the important