It’s worth expanding on previous Dynamics NAV 2017 blogs where we discuss new features and how they benefit users, this time we will focus on how the PayPal integration with Microsoft Dynamics NAV 2017 will bring incremental efficiency and cashflow gains and make e-commerce transactions easier for you and your customers.
Cashflow has repercussions throughout business
According to the CIPD in a recent article, the impact of interrupted cashflow trickles down to salary payments – resulting in either late or incorrect wages being received, citing 44% of employees have been affected by this scenario at some point. Also worrying is the very real mental health impact for owners caused by late payments or the possibility of it, 29% of those responding to a recent survey discussed depression, sacrificing their own salaries or defaulting on their own home mortgage payments.
Focussing on SMBs and their top financial concerns and stress points, “60 per cent naming managing cashflow a major concern” in this Simply Business article.
It is clear that organisations must do all they can in order to mitigate risk of bad credit, even those who cannot either outsource or employ a credit controller. Cost effective assistance is at hand in NAV 2017 which breaks down payment barriers.
A benefit for healthier financial accounting – the new PayPal link now in invoice documents
You can insert hyperlinks to this online payment service into your invoices, giving your customers a quicker means to pay outstanding items online.
Once you also install the PayPal integration extension, links are created in your invoices which take your customers to PayPal Standards online payment – offering further flexibility – with multiple ways of accepting payments securely – including credit cards.
You can specify payment services per invoice or use a default setting and manage by exception. If you have already posted an invoice, simply add a payment service link afterwards.
Flexibility also comes with how you can personalise the invoice templates, moving around the payment link to ensure your call to action is as prominent as you want it to be.