In a significant move that promises to revolutionise the world of B2B payments, Paystand, the blockchain-enabled payment platform, has announced a groundbreaking integrated solution tailored for the Microsoft Dynamics 365 Business Central portfolio.
This new development is set to empower small and medium-sized business (SMB) finance departments by eliminating the tedious manual accounts receivable (AR) processes, ultimately slashing days sales outstanding (DSO) and expediting time-to-cash, all without incurring any fees.
The integration with Microsoft Dynamics 365 Business Central marks a pivotal moment in the world of finance, as it offers customers a modern Payments-as-a-Service mode that is both fully digital and incredibly user-friendly.
With this new addition, users leveraging the Paystand platform will have the ability to encourage their customers to settle payments promptly through automated features, such as the convenient “pay now” buttons seamlessly embedded within the system.
Paystand CEO and co-founder Jeremy Almond said: “Accounting teams need faster and more efficient approaches to help them improve margins and operating cash flow. With the new integration, Paystand provides Microsoft Dynamics users one-click features that eliminate expensive and error-prone processes.
“By democratising access to blockchain applications we empower businesses to escape financial gravity, thrive without unnecessary fees, and emerge as pioneers of a digitally transformed financial era.”
This integration, delivered natively within the Microsoft Dynamics 365 Business Central environment, brings with it a plethora of advantages:
1. Access to Paystand’s Zero-Fee, Real-Time Bank-to-Bank Network: Paystand’s integration taps into the only real-time payment rail available for businesses that comes without any fees.
2. Unlocking Paystand’s Profitability Behavior Model: Users gain access to Paystand’s innovative profitability behavior model, which promises to streamline financial processes and enhance overall efficiency.
3. Creation of Smart Invoices with Embedded Payment Options: The integration allows for the generation of intelligent invoices, equipped with built-in payment options, simplifying the payment process for all parties involved.
This momentous integration is the third of its kind for Paystand, further cementing its reputation as a leading player in the industry. The journey began with an integration into NetSuite, followed by another successful integration with Sage in 2021.
For those eager to get their hands on this transformative solution, Paystand has exciting news. The company will be offering early access to the integration at the Microsoft Dynamics User Group Conference in Charlotte, N.C. later this month.
Moreover, the integration is expected to be readily available in AppSource later this year, opening up a world of possibilities for businesses seeking streamlined payment solutions.
Notably, this invitation extends to Microsoft Dynamics VAR Partners, offering them the opportunity to join Paystand’s partnership program and benefit from this game-changing integration.
In a rapidly evolving financial landscape, Paystand’s latest offering promises to reshape the way businesses handle payments, making it easier, more efficient, and cost-effective than ever before.
Small and medium-sized businesses stand to gain significantly from this innovative solution, as it empowers them to optimise their financial processes and unlock new avenues for growth.
Paystand product head Bindu Gakhar said: “The integration with Microsoft further expands Paystand’s vision for cashless B2B payments by providing all businesses within the Microsoft Dynamics ecosystem a way to seamlessly automate receivables and revenue.
“Paystand saves businesses across multiple industries 50% or more on the cost of receivables by eliminating transaction fees and also speeds up time to cash by up to 60%, helping them scale and increase ROI significantly.”
