Nuvei, a Canadian fintech company, has unveiled its inaugural integration into Microsoft Dynamics 365 Business Central, an enterprise resource planning (ERP) solution catering to small and medium-sized organisations.
With this integration, businesses worldwide gain the ability to seamlessly incorporate various payment methods, including card payments and instant bank transfers (including ACH transactions in the US), as well as disbursement services directly into their existing Dynamics 365 Business Central module.
Leveraging Nuvei’s extensive expertise in embedded ERP payments and top-notch accounts receivable (AR) automation software, this integration aims to streamline accounting workflows, back-office reconciliation, and overall performance for finance departments of Business Central customers, particularly those in verticals like manufacturing, distribution, wholesale, and construction.
Key features of Nuvei’s integration include invoice matching and proprietary cash acceleration tools, which can significantly reduce days sales outstanding (DSO) or receivables cycles for businesses. Additionally, businesses will have access to near-real-time payment information, enabling them to reconcile financial data across systems more efficiently and make faster, more informed decisions.
Nuvei chair and CEO Philip Fayer said: “Our mission is to enable our customers to accelerate their growth through better engagement with their customers. Our technology and expertise of B2B payments and ERP systems enables us to equip businesses with payments through their integrated commerce platform to reach their customers, improve working capital, and drive internal efficiencies.”
This announcement marks another milestone for Nuvei as it capitalises on its over two decades of experience in the B2B payments sector and expands its substantial portfolio of ERP integrations amid a period of rapid industry growth. With B2B payment volumes projected to surpass $120tn this year, Nuvei’s integration with Dynamics 365 Business Central is poised to enhance payment capabilities for businesses globally.
The integration of Nuvei into Dynamics 365 Business Central represents the latest development in the ongoing global payments collaboration between Nuvei and Microsoft, which was unveiled last month. Through this partnership, Nuvei aims to explore further opportunities to collaborate with Microsoft across different geographies and use cases, solidifying its position as a key player in the payments industry.
Microsoft Dynamics 365 Business Central vice president Mike Morton said: “Payments, including AR automation, is a critical component of the user experience for ERP. We’re thrilled that Nuvei has integrated their payment platform with Microsoft Dynamics 365 Business Central, enhancing our offering for our customers.”
