Optimizing Microsoft Dynamics 365 Business Central with A Seamless Payment Integration
As companies seek to enhance operational efficiency, integrating payment systems into existing software platforms becomes increasingly significant. Such integrations can optimize workflows, drive customer satisfaction, and enable better financial management.
This article will explore the importance of integrating payment solutions with Microsoft Dynamics 365 Business Central and guide businesses on what to look for in effective payment processing systems.
What is Business Central?
Microsoft Dynamics 365 Business Central is a comprehensive business management solution that helps companies automate and streamline their financial, customer relationship, and supply chain processes on a single platform.
Business Central is a part of the larger Dynamics 365 suite of applications, which includes Dynamics 365 Finance, Supply Chain Management, and other specialized modules. This cloud-based solution offers real-time insights into business performance and operational efficiency.
With Business Central, businesses can effectively manage financial operations involving payable (AP), accounts receivable (AR), and more. Its key features span across the management of financials, inventory, sales and services, projects, and operations.
This platform can also be synced with integrated payment solutions to enhance transactions.
What are integrated payments?
Integrated payments are enabled when a payment processing solution is embedded into business software to facilitate faster and more efficient transactions.
Integrating payments directly into accounting or ERP systems like Microsoft Dynamics can eliminate or reduce manual tasks associated with inputting payment data. This means that transaction information automatically updates a company’s financial records in real-time.
Understanding integrated payments is essential since they can simplify financial operations for Business Central users looking to optimize efficiency and accuracy in their payment processing workflows.
Why integrated payment processing is crucial for Business Central users
Integrated payment processing is crucial for Microsoft Dynamics 365 Business Central users, as this can lead to more financial efficiency, growth, and long-term revenue.
Here’s how integrated payments can transform Dynamics 365 payment processing:
Streamlined cash flow: When payments are processed automatically, the time between a sale and the availability of funds is significantly reduced. This expedites cash flow, ensuring businesses can reinvest their earnings more quickly, pay bills on time, and maintain healthy working capital. Dynamics 365 payment processing automates AR, providing a live snapshot of financial health and enabling merchants to monitor cash flow in real-time, which is critical for sustained growth.
Improved efficiency: Integrated payment processing systems in Business Central significantly contribute to operational efficiency by automating manual tasks so businesses can allocate time to more strategic initiatives, mitigate human errors, and accelerate financial transactions.
Enhanced customer experience: With integrated payment processing, Business Central users can provide a quicker, more seamless, and secure payment experience. Integrated payment processing has made it easier to meet modern consumer expectations and instill more brand trust. Moreover, the reduced likelihood of errors and decreased transaction times contribute to a professional and customer-friendly environment that can boost repeat business and enhance overall customer relations.
Better reporting and visibility: Integrated payments in Business Central provide superior reporting and visibility into all aspects of a company’s financial undertakings. Instant access to financial data can generate accurate and timely reports essential for analysis and forecasting. Merchants gain deeper insights into transaction trends, payment statuses, and economic outcomes, allowing them to recognize areas for improvement and facilitate strategic planning. In addition to accessing payment figures and statistics, reporting and visibility enable users to understand the story behind them to make data-driven decisions.
Increased security: By leveraging Dynamics 365’s robust security framework, transactions are encrypted and securely processed, reducing the risk of data breaches and fraud. By minimizing human intervention in payment data handling, the opportunity for errors or international manipulation is also diminished, thereby protecting businesses and their customers from potential financial threats.
Compliance with industry regulations: Integrated payment processing solutions are typically built to meet industry regulations and standards, such as the Payment Card Industry Data Security Standards (PCI DSS). Business Central users can have the assurance that their system complies with such regulations, thereby avoiding penalties and preserving their reputation. By staying compliant, businesses also show their commitment to best practices in financial operations and build trust with stakeholders and customers.
Now that you know some of the benefits of integrated payments, the following section will explain what to look for in an integrated payment processing solution.
What to look for in integrated payment processing solutions
Understanding what to look for in integrated payment processing solutions is critical for businesses aiming to enhance their efficiency, cash flow, and user experience.
Here are six features to look for when selecting an integrated payment processing solution:
Diverse payment methods: Payment processors that offer diverse payment methods enable merchants to meet customer expectations and support international transactions. Companies should support traditional methods like credit cards and newer options like mobile wallets and accommodate multiple currencies. This flexibility enhances the user experience, reduces payment friction, and ultimately boosts sales.
Click-to-pay invoicing: Click-to-pay invoicing simplifies and accelerates the payment process for customers, enabling them to settle invoices from their email with a single click. This feature streamlines payments and reduces the manual work involved in invoice follow-ups. It can also accelerate cash flow by reducing days sales outstanding (DSO) to improve overall financial health.
Multi-channel support: An integrated payment solution that supports multiple channels enables businesses to accept payments in-person, online, over the phone, and on mobile devices. This allows merchants to maintain a consistent user experience and aggregate payment data from all channels for a centralized financial view, which can be processed seamlessly within Dynamics 365 Business Central.
Comprehensive security features: Since security is non-negotiable in payment processing, a robust solution will include features like encryption[DC1] [HS2] and tokenization and comply with PCI standards. Fraud detection tools are also essential to protect customers and businesses from financial losses or reputational damage. Strong security builds and protects sensitive data.
Real-time reporting: Real-time reporting is vital for businesses to maintain a clear, up-to-date picture of their financial status. Access to real-time payment data helps track sales trends, monitor customer behaviors, and identify any issues early, which can improve decision-making and operations.
Dedicated onboarding and support: Dedicated onboarding and support are crucial for a seamless payment integration into your business software. Providers that offer comprehensive training, accessible customer service, and routine product education and updates enable businesses to effectively use their integrated payment processing solution and resolve any challenges that arise.
Selecting the right integrated payment provider is essential to simplify transactions and provide an unmatched payment experience.
With this in mind, EBizCharge is a reliable choice that provides the necessary tools and support to help you fully leverage the benefits of integrated payment processing in Business Central.
EBizCharge: A seamless integration into Business Central
EBizCharge is a top-rated payment solution for Microsoft Dynamics 365 Business Central, thanks to its ability to seamlessly integrate with this system to allow merchants to accept and manage customer payments with ease.
EBizCharge offers an all-in-one payment platform that combines a powerful payment gateway, merchant services, and embedded payments directly into the Business Central environment to enhance operational efficiency and simplify invoice collections and data management.
EBizCharge effortlessly integrates into Dynamics 365 to provide users with a reliable gateway and robust payment features that accelerate and automate transactions to yield more cash flow, real-time insights, and long-term revenue for users.
Dynamics 365 BC users can access robust features inside the EBizCharge payment suite, including click-to-pay email links, an online customer portal, full PCI compliance and advanced security measures, multiple payment options, real-time reporting, and more.
As a Microsoft-certified, native integration into Microsoft Dynamics, EBizCharge minimizes the complexities typically associated with a third-party payment gateway by providing a tailored solution that meets users’ unique needs, promotes better financial performance and growth, and ensures an effortless payment experience for all parties.
