Microsoft Gold Dynamics partner and IT consultancy firm Queue Associates has to complete a large number of time-consuming administrative tasks, including everything from processing accounts to requesting and managing payments.
It was struggling with the amount of time that it was taking for employees to track invoice payments, so it turned to payment platform provider EBizCharge for help.
Queue Associates had previously been using Chase Merchant Services to charge customers for its Microsoft enterprise resource planning (ERP), customer relationship management and cloud solution services. However, the company found that it was generating high processing costs and that payment collections were taking too long to process as employees often had to chase accounts or input numbers manually into the ERP system to complete tasks.
“We faced a few problems with our previous processor,” says Jeffrey Goldstein, managing director of Queue Associates. “Each transaction had high costs associated with it. Along with that, we had to manually input our payment data into Microsoft Dynamics – which took several hours each week.”
EBizCharge implemented its Microsoft Dynamics SL Integration and Email Payments solutions within an hour, allowing Queue Associates to quickly streamline its entire accounts receivable processes.
Queue Associates can now use the financial management tools within Microsoft’s ERP solution to automate data entry and run transactions, allowing customer to pay invoices via email. The company can accept a variety of payments directly within Microsoft Dynamics SL and use a payment gateway, merchant services and further integrations.
Additionally, the email payment facilities allow employees to send payment links in emails so that payments go directly through Queue Associates’ invoicing system. This has resulted in the company reducing its day sales outstanding (DSO) rate by 88 per cent, meaning that profit is now being generated faster.
“The new solutions have cut our payment collection time tremendously,” said Goldstein. “Our average DSO was previously about 45 days. Now that average is down to five days. This means that we can take those hours we previously spent uploading payment data to complete more valuable work.”
This article was originally published in the Autumn 2022 issue of Technology Record. To get future issues delivered directly to your inbox, sign up for a free subscription.