Correspondence in Master Contract Management 

Purpose

This component supports you in the creation of standardized periodic or event-controlled correspondence. You can generate this both in single and mass runs. Creation of correspondence is an essential component of a bank’s business processes. It can be sent to the recipient using various media (for example, by letter, e-mail or fax).

Correspondence serves a wide range of communication purposes, including the following:

• Sending information (for example, notification of condition changes)
• Documenting business processes based on agreements between the customer and the bank (for example, notification of creation of a standing order, confirmation of notice)

Scope of Functions

Correspondence created in Master Contract Management (FS-MCM) focuses on standardized mass correspondence, initialized from transactions.

You can differentiate standardized correspondence according to the following criteria:

Reason for Creation

·        Periodic generation of correspondence

In periodic correspondence generation, regularly recurring correspondence is generated (for example, confirmation of execution for standing orders).

·        Event-controlled generation of correspondence

In event-controlled correspondence creation, correspondence is generated that usually arises in connection with a business transaction, for example confirmation of non-execution of a standing order, notification of account opening, confirmation of notice, and account closure.

·        Generation of correspondence through item posting

In correspondence generation as a result of item posting, correspondence is generated that informs customers about payment activities that are generally not included on the bank statement, such as confirmation of execution of a payment order, returned check.

Request Type

·        Single request (for example, single bank statement)

·        Mass request (for example, confirmation of execution of standing orders)

 

Forms are printed by means of SAPscript or Smart Forms with the print program created using the Print Workbench. The data can be formatted for direct printing or as a raw data stream (Raw Data Interface – RDI) for transfer to an external Output Management System (OMS).

Limitations

The following functions are not part of correspondence creation and must be implemented in an Output Management System.

• Automatic attachment of marketing material to correspondence.

·         Grouping several items of correspondence together in one (for example, bank statement with confirmation of standing order and condition changes).