What is confirmation management in SAP FIN-FSCM-TRM-TM - Transaction Manager?

SAP Term: confirmation management

• Component: FIN-FSCM-TRM-TM

• Component Name: Transaction Manager

• Description: The management of incoming and outgoing correspondence by letter, telefax or SWIFT file in connection with transactions concluded.

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• Key Concepts: 
  Confirmation management is a component of the Transaction Manager (TM) module in SAP Financial Supply Chain Management (FSCM). It is used to manage and monitor the status of confirmations sent to customers and vendors. Confirmations are documents that are sent to customers and vendors to confirm the details of a transaction, such as the amount, date, and terms. 
  
  How to use it: 
  Confirmation management in SAP FSCM TM allows users to create, send, and track confirmations. It also provides an overview of all confirmations sent and received. Users can view the status of each confirmation, such as whether it has been accepted or rejected. They can also view any comments or notes associated with the confirmation. 
  
  Tips & Tricks: 
  When creating a confirmation, it is important to include all relevant information. This includes the date, amount, terms, and any other details that may be relevant to the transaction. It is also important to ensure that all parties involved in the transaction have received the confirmation. 
  
  Related Information: 
  Confirmation management is closely related to other components of SAP FSCM TM, such as payment processing and dispute management. It is also related to other modules in SAP FSCM, such as Accounts Receivable (AR) and Accounts Payable (AP).