Indeed, Microsoft Dynamics 365 Business central is an amazing solution by Microsoft. While developing the system, Microsoft took a strategic decision to concentrate its development efforts on the system’s core features. Microsoft has always taken the stance that the solution must be both simple and effective.
Business Central is indeed the ideal solution for financial visibility, real-time supply chain stats, and secure customer data.
However, one thing that business central didn’t have was Accounts payable automation.
So what to do? Well, you can always count on an integrated solution like Microsoft payroll; else, there is only a manual process for payment processing. And it is quite challenging.
The challenges of manual payment processing in Business Central
Yes, if you are not using any integrated payroll and AP system like Microsoft Dynamic payroll, probably you will have to face the following challenges.
With the integrated solutions, users of business central can choose from a choice of third-party processors. Due to the varying processing requirements for each of your sales channels, you may be limited in the payment options you can accept at each touchpoint.
By supporting fewer payment choices, you may be limiting your potential sales. Ultimately, you will face delays in payments.
You might also have to pay more for payment processing. For one thing, assigning more personnel to handle manual payment processing reduces your team’s capacity to focus on higher-value work.
Furthermore, if you are handling several payments through third-party processors, you may be required to pay additional fees. Automatically, it increases the cost of the payments.
When manually matching and applying payments to invoices, there’s always the possibility of human error. When data is entered manually, accounting problems are more likely.
Not only will your employees have to dedicate time to correct these errors, but they could also lead to collection errors.
For accounting teams to know which invoices are past due, which client contacts need to be updated, and whether their stored payment methods are up to date, they require access to reliable data.
These data sources can be found both inside and outside of Business Central, with the latter being maintained mostly through spreadsheets. Spreadsheets, on the other hand, can only show you a snapshot in time, not a real-time image.
Indeed, when payment data has to be manually updated in your financial management system, accuracy decreases.
3 wins of integrated payments within Dynamics 365 Business Central
To overcome these challenges, people are now looking for integrated solutions. And DHRP is ready to offer you an AP automation solution. How can it help you? Let’s see…
You can create a more simple payment experience for both your customers and your staff by integrating your payment processing with Business Central.
You can accept payments directly in Microsoft Dynamics 365 Business Central across your eCommerce, point of sale, and accounts receivable channels if you choose the right solution.
Interchange optimization is a benefit of using an integrated AP solution to handle payments. You can save up to 40% on payment processing costs if Level 2 and 3 data processing is made easy with the support of a solution.
You’ll also save money on labor costs that come with manual payment processing. Get the Microsoft business central payroll integration today to reduce your costs.
You may reduce the number of hands that sensitive payment data has to pass through by processing it through only one system. This helps you protect against payment fraud by reducing the number of entry points for unscrupulous actors to access your data.
Final Word
So, if you think you need this solution too, we understand your despair. DHRP has a great experience and is already prepared to offer you the right AP solution. Save time, money, and other resources by getting the right AP solution from us just now!
