Paystand now has full integration of payments into Microsoft Dynamics 365 Business Central.
Paystand said in a press release on Monday (April 15) that its B2B receivables, payables, and payments network also supports Microsoft's Dynamics NAV, Dynamics GP, Dynamics AX, and Dynamics 365 Finance.
With this integration, chief financial officers (CFOs) using Business Central can leverage Paystand's fee-free B2B payments platform and tools to move to fully digital payment flows and increase accounts receivable (AR) efficiency through automation. and encourage payers to pay early. According to the release, it is highly profitable for the finance department.
These payment systems offer additional savings to customers by incorporating manual AR tasks into digital payment flows, delivering faster revenue with zero commissions and brokerage fees, according to the release.
In another move announced in a press release on Monday, Paystand has partnered with independent software vendor (ISV) ERP Connect Consulting (ERPCC) to provide access to ERPCC's financial dashboard and invoice and statement delivery. provided to the customer.
The partnership will provide Business Central Paystand users with tools and insights that can accelerate time-to-cash and reduce days sales outstanding (DSO), the release states.
ERPCC President Ben Cole said in a release that Paystand seamlessly integrates with Business Central systems, provides payment links within invoices, and allows clients to accept any form of payment from their customers. .
“Partnering with Paystand is a natural fit for us, allowing us to offer these innovative solutions to our clients, streamline AR payment processing, and take their business operations to new heights,” said Cole. he said.
B2B marketplaces are becoming digital, PYMNTS reported in March. As part of this transformation, the emergence of platform models that incorporate payments and lending has changed the dynamics between buyers and suppliers, attracting investor interest and capital.
PYMNTS Intelligence finds that embedded payments can help businesses improve payments and align with a customer base that values easy purchasing experiences enabled by modern technology.
65% of ISVs and platforms that do not currently offer payments functionality plan to add embedded financial products for payment acceptance within the next year, according to PYMNTS Intelligence and Carat's Platform Business Study: The Rise of Embedded Payments is. Collaboration with Fiserv.
