Key Features of SAP FS-CD:
- Master Data Mapping Procedures: Helps in the organization and management of data.
- Payment Plans and Document Handling: Allows for the creation and management of payment plans and relevant documents.
- Advanced Payment Handling: Supports advanced methodologies for payment processing.
- Payment Request Management: Identifies and manages payment requests.
- Agent Handling and Issues: Provides features to handle agent-related issues.
- Balance Display and Archiving: Offers tools for viewing balances and archiving necessary documents.
- Dunning Functionality: Manages overdue payments effectively.
- Coinsurance Feature: Facilitates coinsurance management.
- Customer Enhancement Options: Allows for customization based on customer needs.
Purpose of SAP FS-CD:
SAP FS-CD serves as a sub-ledger for the primary calculating systems, ensuring that the main ledger is not overwhelmed with additional responsibilities. It manages invoicing through brokers and coinsurance businesses and performs all necessary tasks on a cross-Lob basis, including open item accounting, payment processing, incoming payment processing, correspondence, and dunning. This module is crucial for sub-ledger accounting in the insurance sector.
Future and Benefits:
SAP FS-CD provides a highly automated incoming payment processing system with flexible payment logic and manual dispute case management. It offers configurable dunning processes, interest calculations, broker collections, and payment plans, while supporting various outgoing payment methods like transfers or checks. Additionally, SAP FS-CD employees earn competitive salaries, with the average salary ranging from $80,000 to $130,000 USD annually.
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