What is straight-through payment in SAP FS-CM - Claims Management?

SAP Term: straight-through payment

• Component: FS-CM

• Component Name: Claims Management

• Description: Payment in the “First Notice of Loss” SAP Fiori app, which is made automatically by the system based on the incident type, benefit type, and subclaim type, without the claim handler having to create and release the payment manually.

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• Key Concepts: 
  Straight-through payment is a payment process in SAP FS-CM Claims Management that allows for the automated processing of payments. This process eliminates manual steps and reduces the time it takes to process payments. It also reduces the risk of errors and improves accuracy. 
  
  How to use it: 
  Straight-through payment is enabled by setting up a payment rule in SAP FS-CM Claims Management. This rule defines the criteria for when a payment should be processed automatically. Once the rule is set up, payments that meet the criteria will be processed automatically without any manual intervention. 
  
  Tips & Tricks: 
  When setting up a payment rule, it is important to ensure that all criteria are met before processing a payment. This will help to ensure accuracy and reduce the risk of errors. Additionally, it is important to review the payment rule periodically to ensure that it is still valid and up-to-date. 
  
  Related Information: 
  For more information on setting up a payment rule in SAP FS-CM Claims Management, please refer to the official documentation here: https://help.sap.com/viewer/product/FS_CM/2020/en-US/fscm_cm_payment_rule_en.pdf