Dear IFS community,

I would like to ask for help with my questions but first I need to describe company situation.

Right now we are using IFS Cloud Web version: 22.2.7.20230331080827.0

Current status:

Right now we are not using standard IFS functionality to send payments to bank and reconcile bank statements. We have our own functionality which is going to be obsolete, not working properly and needs lot of manual effort. We have +-40 entities in IFS and every entity could have several bank accounts. During month we are talking about +-50K transactions which needs to be correctly paired in IFS.

What I need:

Let’s take into account only the most common scenario where we need to send to Swift xml format (pain.003) and we receive from Swift xml acknowledgement that it was delivered to bank and later we receive from bank xml MT940 where are visible processed payments.

1.) Is there any guide how to setup bank integration flow from scratch?

2.) Does IFS support some xml transformation? XML file needs to be send in specific pain.003 format. It could differ based on the bank.

3.) Is there any guide how to import MT940? Does IFS support any file parcing or it needs to be done before upload?

4.) Is there any bank statement reconciliation automation in IFS? Any guide how to setup it?

5.) How are managed transactions not automatically matched by the system? For example if bank send us some bank fees. There will be no payment reference, no purchase order but based on the text on bank statement “fees” could be automatically recognized and booked by the system.

6.) Does anybody tried to use machine learning together with IFS for bank statement reconciliation? Something like supervised learning algorithm (SVM, Random Forest)?

My goal is to make it as most automatic as possible.

Thank you for any input.

Cheers,

Pavel