Paystand Integrates B2B Payments With Microsoft Dynamics 365 Business Central
Paystand has brought full payments integration to Microsoft Dynamics 365 Business Central.
The B2B receivables, payables and payments network will also support Microsoft’s Dynamics NAV, Dynamics GP, Dynamics AX and Dynamics 365 Finance, Paystand said in a Monday (April 15) press release.
With this integration, chief financial officers (CFOs) using Business Central can leverage Paystand’s fee-less B2B payment platform and tools to move to a fully digital payments flow, boost accounts receivable (AR) efficiency through automation and incentivize payers to make earlier payments that are more profitable for finance departments, according to the release.
These payments systems provide customers with additional savings by incorporating manual AR tasks into a digital payments flow, bringing revenue in faster with zero fees or intermediaries, per the release.
In another move announced in the Monday press release, Paystand has partnered with independent software vendor (ISV) ERP Connect Consulting (ERPCC) to provide customers with access to ERPCC’s Financial Dashboard and Invoice & Statement Delivery.
This partnership will give Business Central Paystand users tools and insights that can speed time to cash and decrease days sales outstanding (DSO), the release said.
Ben Cole, president of ERPCC, said in the release that Paystand seamlessly integrates with the Business Central system and provides a payment link within invoices that allows clients to accept all forms of payment from their customers.
“Partnering with Paystand is a natural fit for us — we can bring these innovative solutions to our clients, empowering them to streamline their AR payment processing and elevate their business operations to new heights,” Cole said.
The B2B marketplace has been getting a digital makeover, PYMNTS reported in March. As part of this makeover, the emergence of platform models with embedded payments and financing has changed the dynamics between buyers and suppliers and attracted investor interest and dollars.
PYMNTS Intelligence has found that embedded payments help companies improve payments and cater their businesses to customer bases that value easy buying experiences enabled by the latest technologies.
Sixty-five percent of ISVs and platforms that don’t currently offer payment capabilities plan to add embedded financial products for payment acceptance within the next year, according to “Platform Business Survey: The Rise of Embedded Payments,” a PYMNTS Intelligence and Carat from Fiserv collaboration.
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