Canadian fintech company Nuvei recently revealed its most recent connection with Dynamics 365, an ERP (Enterprise Resource Planning) system supplier designed specifically for small and medium-sized enterprises. Through this partnership, businesses globally may easily incorporate a range of payment options into their current Dynamics 365 Business Central division, including credit card payments, immediate bank transfers, and ACH transactions. Let us understand the dynamics of Nuvie Dynamics 365 Integration and how it will be useful for Nuvei in the long run.
The main goals of this integration are to increase the effectiveness of finance departments in industries including distribution, manufacturing, construction, and wholesale by streamlining accounting workflows and enhancing back-office reconciliation procedures.
With Nuvei’s connection, businesses may take advantage of features like exclusive cash acceleration and invoice matching capabilities designed to shorten the Day Sale Outstanding (DSO) cycle. Furthermore, it provides near-real-time payment information, speeding up and improving decision-making quality by enabling more effective financial data reconciliation across systems.
Key Takeaways Of Nuvie Dynamics 365 Integration
- Seamless Integration of Advanced Payment Solutions: Nuvei’s collaboration with Microsoft Dynamics 365 enables businesses globally to effortlessly integrate various payment methods, including instant bank transfers, card payments (including ACH transactions in the US), and disbursement services into their existing Dynamics 365 segment. This integration eliminates friction in accounting workflows and streamlines performance for finance departments in distribution, manufacturing, construction, and wholesale.
- Efficiency Enhancement through Cutting-Edge Technology: Nuvei’s integration introduces robust features such as exclusive cash acceleration devices and invoice matching, empowering businesses to achieve shorter receivables or DSO cycles. Accessibility to “almost” immediate payment data is made possible by technology, which speeds up and improves decision-making by enabling the effective reconciling of financial information across systems.
- Strategic Alignment with Nuvei’s Growth Initiatives: This initiative aligns with Nuvei’s strategic plan to broaden its portfolio of ERP integrations, contributing to the global payments collaboration between Microsoft and Nuvei. The announcement reflects Nuvei’s commitment to encouraging customer growth and diversifying its range of ERP integrations, tapping into the expansive $120 trillion B2B payments market.
- Nuvei’s Ongoing Collaboration with Microsoft: The partnership signifies a significant achievement for Nuvei, leveraging its over two decades of experience in the B2B payments sector. Integrating with Dynamics 365 Business Central is the latest step in the global payments collaboration with Microsoft, showcasing Nuvei’s commitment to ongoing collaboration across various geographies and use cases. The endorsement by Microsoft’s Vice President of Dynamics 365 underscores the importance of combining AR automation in enhancing the ERP user experience.
Businesses worldwide can now seamlessly incorporate various payment methods, including instant bank transfers, card payments (including ACH transactions in the US), and disbursement services, into their existing Dynamics 365 segment. Leveraging Nuvei’s profound expertise in embedded ERP payments and top-notch accounts receivable automation software, this integration aims to eliminate friction in accounting workflows and back-office reconciliation, streamlining performance for finance departments within Dynamics 365 Business Central customers in sectors like distribution, manufacturing, construction, and wholesale.
Nuvei’s robust integration and cutting-edge technology include exclusive cash acceleration devices and invoice matching, empowering businesses to achieve shorter receivables or DSO cycles. Furthermore, companies gain access to “almost” real-time payment information, facilitating more efficient reconciliation of financial data across systems and supporting faster, more informed decision-making.
This integration empowers SMBs to seamlessly integrate a range of payment methods into their current ERP modules. This initiative aligns with Nuvei’s strategic plan to broaden its portfolio of ERP integrations and contributes to the global payments collaboration between Microsoft and Nuvei. This announcement also mirrors Nuvei’s commitment to encouraging customer growth and diversifying its range of ERP integrations, capitalizing on the expansive $120 trillion B2B payments market.
According to Nuvei CEO and Chair Philip Fayer, their objective is to empower customers to enhance their growth by fostering improved engagement with their clientele. Leveraging their technological proficiency in business-to-business payments and Enterprise Resource Planning systems, they facilitate businesses in providing integrated commerce platform payments, aiding them in reaching customers and optimizing internal efficiencies and working capital.
Fayer further explained that by combining their payment technology with the top ERP market, they can reach millions of people worldwide and thousands of organizations in a market with a sizeable TAM. As they progress with growing their developing payments channel, this is a significant strategic milestone.
This announcement signifies another significant achievement for Nuvei as it leverages over two decades of experience in the B2B payments sector. During a phase of rapid industry growth, Nuvei is expanding its substantial portfolio of ERP integrations. The integration of Nuvei with Dynamics 365 Business Central, revealed last month, represents the latest step in the collaboration of global payments with Microsoft. Nuvei expresses its commitment to ongoing collaboration with Microsoft across various use cases and geographies as part of this partnership.
Mike Morton, Vice President of Dynamics 365 at Microsoft Payments, emphasized combining AR automation as a crucial element in the ERP user experience. He expressed enthusiasm about Nuvei’s integration of their payment platform with Microsoft Dynamics 365, enhancing the overall offering for their customers.
At the outset, this partnership saw Microsoft utilizing Nuvei’s payments technology in Africa and the Middle East to enhance individual transactions and recurring billing for Xbox and Office customers. Both entities have indicated their plans to broaden this collaboration to additional markets and investigate further use cases, including enhanced integration with Microsoft Dynamics 365 Business Central.
Nuvei or Nuvei Corp is a financial service provider specializing in payment processing solutions. Their services include payment processing, handling payment transactions, merchant services, payment software development, agent programs, transaction processing solutions, industry-leading services, and more. Nuvei is committed to providing dedicated chargeback resolution management, effective relationship management, telephone support services, advanced fraud protection consulting, POS service and support, cash advance services, and real-time online reporting.
Pivotal Payments, a subsidiary of Nuvei, offers cost-effective payment processing, multi-currency processing, payment server development, currency conversion, retail payment solutions, payment gateway services, business card processing, retail solutions, gateway services, and direct selling, among other services. Operating in the United States and Canada, Nuvei has its headquarters in Montreal, Canada.
Nuvei’s integration with Microsoft Dynamics 365 significantly advances ERP payments and accounts receivable automation. This strategic alliance enables businesses worldwide, especially those in the distribution, manufacturing, construction, and wholesale sectors, to effortlessly incorporate diverse payment methods and streamline accounting workflows. Leveraging Nuvei’s expertise, this integration facilitates shorter receivables cycles and provides real-time payment information, enabling more efficient reconciliation and informed decision-making.
As part of Nuvei’s commitment to customer growth, this initiative aligns with their broader plan to diversify ERP integrations, contributing to the expansive B2B payments market. With a focus on collaboration and ongoing advancements, Nuvei solidifies its position as a leader in the B2B payments sector, promising continued innovation and enhanced user experiences within Microsoft Dynamics 365 Business Central.