What is 'single signature' in SAP FIN-FSCM-CLM - Cash and Liquidity Management?

single signature - Overview

• Component: FIN-FSCM-CLM

• Component Name: Cash and Liquidity Management

• Description: A payment approval pattern for bank accounts. When this pattern is used, only one signatory is able to approve the payment.

single signature - Details

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  Key Concepts: 
  Single signature is a feature of SAP Cash and Liquidity Management (CLM) that allows a single user to approve a payment or transfer. This feature eliminates the need for multiple users to sign off on a payment or transfer, streamlining the process and reducing the risk of errors. 
  
  How to use it: 
  To use single signature, a user must first be granted the appropriate authorization in SAP CLM. Once authorized, the user can approve payments and transfers with a single signature. This feature can be used for both manual and automated payments and transfers. 
  
  Tips & Tricks: 
  When using single signature, it is important to ensure that the user has the appropriate authorization level. Additionally, it is important to ensure that all payments and transfers are properly documented and tracked. 
  
  Related Information: 
  For more information on single signature in SAP CLM, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tips and tricks for using this feature.