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Format trees are a graphical representation of a payment format. Creating new format trees for outgoing payments with the Data Medium Exchange Engine (DMEE) consists of five steps: specifying the tree header with details, creating format tree nodes, checking the syntax for consistency, testing the format tree, and configuring the Payment Medium Workbench (PMW). |
Creating and managing different payment formats can be burdensome to companies that are either operating in an international business environment or managing different bank relationships. Payment formats are not only different from country to country but are also subject to change over time. Cash and Treasury managers face challenges because their banks support only local or regional payment standards or send inconsistent account statements for reconciliation purposes. The Data Medium Exchange Engine (DMEE) and the Payment Medium Workbench (PMW) enable you to cope with these problems and provide an alternative to the traditional payment medium programs.
Part 1 of this series explained the key principles of the PMW, including the architecture and configuration, as well as the differences between the classic payment medium programs and the PMW. That article was posted in the Financials Expert knowledgebase in January 2009. You should read it before reading part 2, which focuses on the DMEE.
