What is automatic debit authorization in SAP FIN-FSCM-BD - Biller Direct?

SAP Term: automatic debit authorization

• Component: FIN-FSCM-BD

• Component Name: Biller Direct

• Description: Permission given by a payer to the payee to deduct money direct from a bank account. Permission can be limited to one transaction or can extend to repeated transactions.

Smart SAP Assistant

• Key Concepts: 
  Automatic debit authorization is a feature of the Biller Direct component of SAP's Financial Supply Chain Management (FSCM) module. It allows customers to authorize a company to automatically debit their bank account for payment of invoices. This eliminates the need for customers to manually enter payment information each time they receive an invoice. 
  
  How to use it: 
  To use automatic debit authorization, customers must first provide their bank account information to the company. The company then sets up an automatic debit authorization in SAP FSCM. When an invoice is generated, the customer's bank account is automatically debited for the amount due. 
  
  Tips & Tricks: 
  It is important to ensure that customers are aware of the automatic debit authorization process and that they understand how it works. Customers should also be informed of any fees associated with the process and any other relevant information. 
  
  Related Information: 
  For more information on automatic debit authorization, please refer to SAP's documentation on Biller Direct. Additionally, you can find more information on SAP FSCM and its components on the SAP website.