Microsoft Dynamics is a dominant force in the ERP market. With a market share of 25.32%, it edges out even its closest competitors as the #1 preferred choice across a variety of industries in businesses of every size. It’s known for its high rankings in cost efficiency, features, integrations, and security.
However, despite its popularity and overall positive reputation, Dynamics can be optimized for even better performance. For finance teams, adding in an integrated solution to maximize payment processing can transform their productivity and accuracy.
In this blog, we’ll examine why bringing in an additional payment-focused partner can be beneficial for all aspects of your payment processing.
A More Efficient, Hands-Free Payment Process
Timely payments and a well-monitored cash flow are the lifeblood of any successful business. ERPs like Microsoft Dynamics are great tools for leveling up your existing processes, but what if there was a way to make them even more effective?
This is where an automated payment solution comes in. The right kind of software can integrate seamlessly with Dynamics, enhancing its existing payment capabilities without disrupting your important back-office operations.
This includes improved areas like:
- Frictionless payment options that can be customized to your suppliers’ specifications.
- Automated payment processing that works to free up your AP team for other less time-consuming, manual tasks.
Automation’s benefits don’t stop there. By pairing this kind of solution with your Microsoft Dynamics ERP, your business will also experience a boost to some of its most important external relationships: your suppliers.
Transforming the Partnership Between Your Business and Its Suppliers
The relationship between your business and its important suppliers is a core one for success. Despite this, it can easily become fraught due to common payment processing problems like late payments, a lack of transparency, or invoice errors.
The winning combination of Dynamics and a trusted automated payment partner can greatly alleviate any pain your organization is experiencing due to an inefficient payment process. The elevated performance that automation provides enables your organization to pay not only on time, but ahead of schedule. With this promptness comes the potential for supplier discounts, improving your business’s standing with them while further boosting your bottom line.
Enhancing Your In-House Performance
On top of streamlining your vital payment processes and working more effectively with your important suppliers, adding an automation solution to your already Dynamics-powered tech stack also improves your AP team’s ability to perform at maximum efficiency.
Not only does this allow for more insight into your payment processes—how long they take, what areas are performing well, what areas are lacking, places where your team can utilize automation to be hands off—but it also is integrated with ease. This spares your team the headache of having to key data into multiple systems, as the right automation solution pairs with Microsoft Dynamics in an intuitive way.
Additionally, with a more automated approach to your more time-consuming, manual tasks, your AP team will be able to focus on more important to-dos. This has been shown to improve not only employee performance, but also morale.
Keeping Your Payment Process Secure from Start to Finish
From a security standpoint, pairing an automation solution with Dynamics only works to further protect your important payments. With less hands involved throughout the payment process, automation works to safeguard your business’s cash flow from potential fraud, compliance errors, and other possible disasters.
AP Automation and Microsoft Dynamics: A Match Made in Heaven
Microsoft Dynamics is a tried-and-true ERP that companies around the world trust to help manage their business-critical data. When paired with a payment automation solution, it functions at maximum efficiency, improving security, employee morale, and cost savings.
If your business relies on Dynamics as its ERP but hasn’t yet added an automation partner to your tech stack, DocuPhase is the solution for you. With our proven track record as a successful, easily integrated Dynamics partner, we would love to bring improved payment processing to your organization.
Schedule a demo with us today to see what DocuPhase can do for your AP team!
