Are your accounts receivables still reliant upon checks? Are your business processes still heavily manual, receiving payments by mail and dependent upon teams to prepare deposits and reconcile manually? Several macro-economic trends indicate that organizations now, more than ever, should be utilizing electronic payments. Not only to minimize manual processes and reduce costs, but to please customers who prefer the convenience. The added bonus of getting paid faster will delight finance teams who are focusing on cash flow.
Your customers want to pay you how they want, when they want, and where they want... And of course, they want the process to be as easy as possible. Whether it's choosing to accept alternative payment methods, allowing customers to pay invoices by ACH or credit card, or issuing and accepting gift cards on purchases, the more opportunities that exist to generate sales also presents the threat of increased manual processes and potential for more human error for your finance teams. Automation, however, eliminates these threats and allows you to offer a more customized user experience, in which your customers pay you according to their terms. Your Accounts Receivable process is a great place to start when looking to increase efficiencies across your business, while giving your customers what they want.
We all know the iconic scene in Friends when Ross and Chandler navigate a tight staircase with a large couch. Right now, many businesses are also yelling "PIVOT" as they transition multiple aspects of their business model in short order. For many businesses, it's pivoting to a work-from-home routine and ensuring their employees have what they need to accomplish their daily tasks and continue to be successful in their roles. For other businesses, its more extreme by pivoting their order and fulfillment process. Brick and mortar retailers are the most common example, who in many cases have had to shift to an online ordering and delivery system where one may not have existed before. And then there are the most extreme cases where manufacturers, distributors and retailers have shifted the very product set they make and/or sell to accommodate the changing demands of society. Through all these quick pivots, it's crucial to not "break the couch" and ensure critical pieces - like customer payments - aren't broken or lost in the process.
Recent conditions have forced a radical and sudden shift in the workforce, with employers scrambling to ensure employees have the remote access technology in place to perform their tasks at home. During this mobile workforce shift, the immediate need - once HR and IT sorted out work from home policies - was ensuring customer service and support was still available and able to address client issues. Certainly, sales required attention, and making sure that the order process was still intact was top of mind as well. Some businesses are having to adjust their order processes with a transition to online payments for the first time, finding themselves with the urgent need to adapt eCommerce platforms. It is crucial during this time to maintain cash flow, and the way to do that is to make it easy for customers to pay you.
Navigate Microsoft Dynamics 365 Business Central with ChargeLogic at Directions 2018.
ChargeLogic is going for gold this year at Directions North America 2018! As a Gold Sponsor, we have three sessions that you don’t want to miss. We’ll also be available all day, every day to meet with you, answer questions, and demonstrate how our solutions work to meet your customers’ needs.
Are you ready for the biggest conference focused on the Microsoft Dynamics community? Join ChargeLogic at booth 509 to celebrate all things Dynamics NAV and Dynamics 365 Business Central! We would love to connect face to face with you.
This year’s NAVUG Summit will be hosted in Phoenix, AZ from October 15-18. Attend our sessions:
If you sell to business or government customers, chances are that they make purchases with corporate or government credit cards. Did you know that you could be saving as much as 0.50% to 2.5% for each of those transactions? So how do you get those savings?
The best way to make sure that you are getting the most out of ChargeLogic Payments is to ask your Microsoft Dynamics NAV partner for an annual checkup. A ChargeLogic Payments Checkup reviews all of your settings to ensure that they are properly adjusted to meet your business’s needs. Optimized settings provide you with maximum security, automated processes, and the ability to get the lowest credit card processing fees possible.