Dynamics AX Customer Payment File Import

To apply payments received from customers to matching invoices is easy with our Microsoft Dynamics AX 2012 payment processing module, no customization required. Automating payment processing, including journal entries, is essential to maximizing efficiency and accuracy. Other solutions usually only address part of the payment acceptance cycle; now with one module, revenue from all sales channels are processed and matched to your invoices.

PAYMENT TYPES: Accept cash, credit card, wire, Paypal, ACH, Remote Deposit Capture.

SALES CHANNELS: Ecommerce, Retail (US and Canada EMV), Electronic Bill Presentment and Payment (EBPP or EIPP), Lockbox and others.

While using a lockbox service is an option, is it necessary? With integrated EBPP, your clients can view and pay multiple invoices electronically with your preferred payment methods. A key to EBPP adoption is reducing friction, and with the capability for recurring customers to pay via text or email in just 2 clicks is powerful enough to drive high adoption and fast payments almost immediately. If you do receive payments in the mail, Remote Deposit Capture and batch upload capability are available.

Collections are automated on your schedule; many solutions are limited in this respect, increasing DSO due to “first of month” statement delivery or other limitations. For those customers that run into credit issues, users can set up an automated collections schedule- any amount, any dates.

Looking for Dynamics AX solutions to improve your accounts receivable and overall treasury management? Contact us today.

 

 

Increasing B2B Loyalty With Improved Customer Experience

b2b einvoiceThe last mile in any business to business transaction, collecting payment, can be a point of friction or a seamless part of a great buying experience. Too often, its the former due to a multiple roadblocks including paper invoicing, and accounts receivable staff availability for time zone differences.

Established family businesses often have the same customers for generations and they’re fiercely loyal. Or are they? In a Bain & Company survey of 290 executives in B2B industries throughout 11 countries, 68% of respondents said customers are less loyal than they used to be. Technology can be a game changer for increasing loyalty.

Common business to business billing scenarios for distributors without ecommerce capabilities:

  • Distributor A sends invoices via text or email and lets their customer choose their experience and how they want to pay. Pay from the email/text or login to a portal? Store and tokenize ACH or credit card or manually enter each time? Send check in the mail?
  • Distributor B sends invoices via email and requires customer to login to a portal to make payments.
  • Distributor C has an online pay page customers can use to pay any amount.
  • Distributor D send invoices via email, and customers send checks in the mail.
  • Distributor E sends invoice and credit card authorization form via email, then gets a fax back, key enters into a virtual terminal.

Which billing strategy delivers the optimal customer experience? Customers want to interact with you in multiple ways, so if you’re still doing business the same way you have for decades, customers have likely shifted some of their business, or maybe all of it, to another vendor. Price is not the likely culprit. In a retail study about millennials, just 15% always purchase from the lowest price retailer, while 38% cited convenience as a reason to not purchase. 58% said they’d take advantage of self-checkout on their own mobile device.

What does this mean for B2B distribution companies? Think like your customers. Are you making it easy to do business? Are you increasing their efficiency? What’s the opportunity cost of not updating? I once sought a new distributor for a product an existing supplier discontinued. I found one, but didn’t place the first order. Why not? They required calling in with my credit card information citing it would be more secure. We were in different time zones and the phone was busy, or the person at lunch, and it was just plain inconvenient to keep trying.

A distributor recently advised me they don’t store anything – they require a credit card authorization form for every single purchase. Talk about driving customers away! Even a simple hosted pay page can alleviate the need for paper forms, immensely increase customer convenience, and increase cash flow to boot. While increasing a credit line is a possibility, some customers use them as a tool to self-manage credit, increasing purchasing without having to interact with anyone.

Invoicing and payment technology updates are critical to garnering customer loyalty, regardless of the payment type. The more flexible the solution, the more likely each customer can interact with your business via their preferred method. Today’s technology supports a myriad of payment types, including ACH, credit card, wire and others, and multiple ways to interact for making payments from email to text and beyond. Delighted customers are more loyal and more likely to refer new business.

Christine Speedy is an authorized reseller for CenPOS, a cloud-based, end-to-end payments engine that drives enterprise-class solutions for businesses, saving them time and money, while improving their customer engagement. The secure, cloud-based solution optimizes acceptance for all payment types across multiple channels without disrupting the merchant’s banking relationships. 954-942-0483

Faster Processing and Settlement of ACH Credit Transactions begins Today, Reaching all U.S. Bank Accounts

NACHA Announces Implementation of New Rule for Phase 1 of Same Day ACH

HERNDON, Va.–(BUSINESS WIRE)–Today, NACHA —The Electronic Payments Association®, the trustee and rule maker of the ACH Network, announced the launch of Phase 1 of Same Day ACH. Same Day ACH is a new faster payments option that reaches all bank accounts and will enable businesses and consumers to send and receive payments and payment-related information on the same day through the ACH Network.

The launch of Same Day ACH marks a significant milestone in the journey towards faster payments in the U.S.

Phase 1 of Same Day ACH allows for the sending and receiving of virtually any ACH credit transaction, enabling a variety of transactions such as urgent claim payments from an insurance company to a consumer or same-day payroll payments from an employer to an hourly or contract employee.

“The launch of Same Day ACH marks a significant milestone in the journey towards faster payments in the U.S.,” said Janet O. Estep, president and CEO of NACHA. “While other payments initiatives have been developed to support the demand for faster payments in the U.S., Same Day ACH provides absolute certainty that your payment can get to absolutely anyone else with a bank account on the same day, regardless of which bank or credit union they use, bringing value to all users of the ACH Network.”

Beginning today, all financial institutions will be able to receive same-day transactions. Although sending same-day transactions by financial institutions and their customers is optional, it is expected that many will begin enabling the origination of same-day payments today. According to research conducted by NACHA, 95 percent of the nation’s top financial institutions intend to originate Same Day ACH in 2016. The top reasons cited for how Same Day ACH will be used by financial institutions beginning today include payroll and business-to-business payments.

“Same Day ACH is an innovative and immediate solution to support the demands of those consumers and businesses that want to move their money faster,” said Estep. “Not only does it support the industry’s near-term needs, but it also serves as a building block for the future of faster payments. Upon the Same Day ACH foundation, other products and services can be built to continue to meet the evolving needs of consumers and businesses into the future.”

Phase 2 of Same Day ACH will launch on Sept. 15, 2017. Phase 2 will introduce the faster processing and settlement of debit transactions, in addition to credit transactions. This Phase will support additional use cases such as consumer bill payment for utility, insurance, telecom, mortgage, loan and credit card payments.

For more information about Same Day ACH and how to implement and leverage this opportunity, visit NACHA’s Same Day ACH Resource Center at https://resourcecenter.nacha.org/.

About NACHA—The Electronic Payments Association

Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S. by moving money and information directly from one bank account to another. Financial institutions exchange 24 billion ACH payments valued at $41 trillion annually. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.

Can I use CenPOS gateway for Quickbooks electronic invoicing EIPP alternative?

Businesses can use the CenPOS Quickbooks integration for einvoicing and payment from text or email. The CenPOS electronic bill presentment and payment, or EBPP, also known as electronic invoice presentment and payment, or EIPP, will improve your customer experience and boost cash flow, as an alternative to the Intuit PaymentNetwork.

cenpos eipp electronic invoice presentment and payment

CenPOS EIPP screenshot of email body

Intuit PaymentNetwork is an electronic invoicing and payment service to accept credit cards, debit cards and ACH payments. CenPOS is a univeral payment processing network that streamlines the payment experience for merchants and customers through all sales channels, and multiple payment types. The CenPOS Quickbooks plugin is easy to use increases profits and cashflow vs Intuit einvoicing solution.

CenPOS vs Quickbooks Intuit EIPP Core Differences:

EIPP Quickbooks Intuit vs CenPOS reviewSome specific advantages:

  • Easier for customers to buy- proven to reduce DS, and increase satisfaction
  • Easier for customers to buy- proven to increase business to business sales
  • Agnostic to financial partners- non-disruptive if you change them
  • Does not create a new customer if the cardholder name does not match the name on the invoice (big complaint for Quickbooks users)

When comparing CenPOS vs Intuit’s Quickbooks EIPP solutions, CenPOS is a far more robust and powerful solution to maximize profits. Contact us for the free plugin and CenPOS services.

EBill payments via text or email improve PCI Compliance video

Ebill and einvoice systems send invoices vs Electronic Bill Presentment and Payment or EBPP gets you paid from that request via text or email. This critical difference has a major impact on security and PCI Compliance. This  video demo is for a standalone solution to accept online payments, including credit card. ACH and wire. Integrated solutions for Quickbooks, ERP, or other, are also available.

Video CenPOS EBPP Lite demo shows the simplicity of sending an einvoice with request for payment via email to an existing customer, that has previously made a purchase and stored their credit card. Customers can self-update their payment methods, store multiple methods. Ask for any feature, and yes, we probably support it.

A layered approach to card not present fraud protection is critical with increasing financial industry changes. In addition to the traditional address and CVV verification, cardholder authentication, IP blocking and other tools can be used to guarantee payment against fraud globally (some restrictions apply).

Eliminate credit card authorization forms with sensitive cardholder data. No one likes them, they’re time wasters for both parties, cards get expired etc. At best, they offer flimsy protection against fraud. Worse, they’re a PCI Compliance nightmare.  In the event of a data breach, it’s likely impossible to prove compliance if you use them. Regardless of how secure and loyal you think your employees are, stuff happens and when identity theft related to credit cards occurs, your business has a 50% chance of survival.

Contact Christine Speedy, 954-942-0483, 3D Merchant Services, 9-5 ET. Your merchant account, our cloud hosted payment gateway solutions.