Accounts Receivable Customer Payment Automation

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Highly Intelligent Accounts Receivable Automation Software at SK Global

Do you find that your current accounts receivable automation software does not automate enough? If there are too many unresolved transactions at the end of the period, the cost of manual reconciliation can be significant.

SK Global’s Treasury Automation Suite was created to be an intelligent payment matching software. It automates as many customer payments as possible, saving a great deal of time and expense.

You can create multiple rules, with multiple “degrees of confidence” levels — in order to automate many more accounts receivable transactions — using our Accounts Receivable Automation software. It runs continuously in the background and can flag discrepancies as soon as they are found.

Customer Payment Matching

Payment matching in SK Global’s Accounts Receivable Automation software is configurable down to the user level. Matches can be made based on dates, amounts, payment reference or deposit or check number in Microsoft Dynamics 365 Finance and Operations, Microsoft Dynamics AX 2012 and Microsoft Dynamics AX 2009.

You can customize the payment matching based on our software’s rule groups. And for each level of rules, you can add a confidence level which will trigger a tolerance.

For example, if the first rule is that the check number or payment reference number and an amount matches, then it is a match with a 100% confidence level.

If there is not an exact match on the first rule because the amount is off by $5 or €5, for example, then the second rule is taken into consideration. In our example, the second rule is if the reference number matches, then it is considered a match with a 90% confidence level.


Online Bill Presentment and Credit Card Processing 
 

Summary Journal Matching Rule

SK Global’s Accounts Receivable Automation Software has a special Summary Journal matching rule, which will match many transactions from Microsoft Dynamics 365 Finance and Operations to one bank statement – automatically. It is a very powerful tool that solves a very common problem.

Mapping Rules to create GL Entries

Our Accounts Receivable software goes even further with customer payment matching. If the transactions are not in Microsoft Dynamics 365 Finance and Operations but are seen on the bank statement, our Treasury Automation Suite can create GL entries, using parsed data from descriptive fields.

If you wish, you may also auto-post GL journals. These will be recorded with the day the journal was cleared, no matter when the reconciliation period ends.

These are just some of the features of SK Global’s Accounts Receivable Automation software, part of the Treasury Automation Suite. To find out more, schedule a demo or contact us for more information through the red button below.

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Credit Card Advantage

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Authorize and capture credit card payments in real-time without leaving your Microsoft Dynamics 365 Finance and Operations, Microsoft Dynamics AX 2012 environment.

Real Time Credit Card Processing

Turn your ERP software into a cash flow machine when you add our real time, integrated credit card processing solution. SK Global Software’s Credit Card Advantage is a PCI-DSS certified PayFabric Cloud processing and storage solution that helps you skip the billing cycle while making the most of your ERP system’s capabilities.

With Credit Card Advantage for Microsoft Dynamics 365 Finance and Operations, Microsoft Dynamics AX 2012 and Microsoft Dynamics AX 2009, you can:

  • Take control of your cash flow, by preauthorizing sales charges before completing orders of any size.
  • Avoid manual entry errors, since Microsoft Dynamics 365 Finance and Operations, Microsoft Dynamics AX generates and automatically records a paid customer invoice for each credit card transaction, and even sends a receipt – with no additional effort by your customer service or sales reps.
  • Maintain a high level of security and PCI compliance, since transactions are processed through a web-based window, not on your local system.

Credit Card Advantage includes all the features you’ve come to expect in a real time credit card processing scenario, and a few others as well. Schedule an informative demo to find out more!

Credit Card Preauthorization

One of the reasons companies enjoy using Credit Card Advantage is for preauthorization on credit card transactions — to ensure timely collection without the effort of generating an invoice and waiting for payment. For those customers who prefer to pay by credit card on the spot, CCA adds this full-service, full-quality capability, allowing your sales and call center representatives to handle instant payment collection in a single, smooth interaction.

Credit Card Advantage:

  • processes the credit card with CVV2 verification
  • generates and posts a customer invoice to your Dynamics/365 system
  • marks it as paid and automatically issues the customer a receipt


Learn About Credit Card Advantage Integration

A Timely Alternative

Are you in the market for a Microsoft Payment Services alternative? As you are probably aware, Microsoft is discontinuing Microsoft credit card processing and other payment services as of January 1, 2018, making this a great time to give CCA/Credit Card Advantage a try.

SK Global has also proven to be a strong replacement for Red Maple credit card processing services for many clients. We’ll work with you to integrate this and other solutions until you are fully satisfied and truly happy with your investment.

Security

  • With CC Advantage, customer data is never entered or stored directly on your system, preventing keystroke logging and providing protection for you, your employees, and, importantly, your customers.
  • CC Advantage utilizes and shares the same flexible, powerful, PCI-DSS compliant PayFabric technology as our EPay Advantage (automated invoicing) and PayLink (one-click email payment) solutions.

We also have a customer payment portal. It allows you to simplify your accounts receivable and give your customers the ability to manage their payments at any time on a user-friendly portal with online bill presentment.


CCA Module Overview 

Supply Chain Financing

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Supply chain financing is a favorable option for many companies trying to simplify the payment process between a buyer and a supplier. It can significantly reduce supply chain bottlenecks and enable the optimization of working capital. However, companies often face paperwork buildup and potential miscommunication, which can be one of the more tedious downsides of supply chain financing.  

At SK Global Software, we have built a formidable solution to fix those types of problems in supply chain finance. Our Supply Chain Financing Module functions within Microsoft Dynamics 365 Finance and Operations to provide your organization an accessible platform for invoice processing and communication between vendors, suppliers, and SCF partners.  

Key Features  

  • Flexible payment options – set up directly with your supplier or your SCF partner 
  • Direct invoice uploading, which can be directly accessed by SCF partners 
  • Real-time notifications of invoice progress 
  • Intelligent highlighting of errors or unresolved issues  
  • Automatic reconciliation of supplier’s invoice once invoicing due date arrives 
  • Generation of invoice payables to SCF partners 
  • Equipped to handle any number of settlement options 

Convenient Approval and Payment Process 

In our Supply Chain Financing module, you have the option to either directly pay your supplier within a 60-day financing period or set them up with a SCF partner of your choosing in the system. Conveniently, you can upload invoices directly into the module, which can be viewed by your SCF partner. They then have the ability to directly approve within the module, allowing for an efficient approval process.  

Conveniently, our module automatically generates an invoice payable to your Supply Chain Financing partner once the invoicing due date arrives. This invoice will be handled through SK Global’s AP EFT payment process. Your SCF partner can then automatically reconcile your supplier’s original invoice directly within our module.  

The SCF partner and the vendor also have the flexibility to work within our module where they can resolve financing terms and handle their own invoice processing. The Supply Chain Financing module offers both stability and ease of mind to all parties involved, allowing them to work smarter together through our automatic uploading and approval process capabilities.  

Seamless Communication and Real-Time Notifications  

Real-time notifications will notify the necessary parties involved of the invoices’ progress, creating ease of communication across your network. SCF providers receive automatic notifications of new invoices while the buyer and vendor will be sent acknowledgements for when the SCF partner uploads an invoice. When errors or unresolved issues do occur, your team will be notified so that you can adeptly solve the issue.  

Expansive Settlement Library  

Our module handles a variety of settlements including due date-based settlements, file-based settlements derived from electronic invoices sent by the provider, and settlements without moving the payable on the due date. If your company uses an alternative form of settlement, work with our consultants who will provide top-notch expertise on how to integrate your form of settlement into our module.  

If you are interested in learning more about our Supply Chain Financing module, you can schedule a demonstration with us. SK Global’s Supply Chain Financing software is a key strength of our Treasury Automation Suite for Microsoft Dynamics 365 Finance and Operations. 

 

Automatic Bank Statement Reconciliation

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Manually processing thousands of bank statements in Microsoft Dynamics 365 Finance and Operations is now a thing of the past. With SK Global’s Bank Statement Automation module, your team can easily process bank statements in a matter of minutes error-free. Most importantly, our module can automate bank statement reconciliations unattended, meaning our module can give your team back precious time so you can focus on the tasks that matter.

Not only can our module automatically process a countless number of bank account statements, but it can also handle processing statements from any bank and any legal entity, allowing your team the flexibility they need.

  • Our module has stellar capabilities that work in tandem with our larger Banking Automation Suite for Microsoft Dynamics 365 Finance and Operations. Here are some of the many features that your team can utilize with the Bank Statement Automation module: Manage reconciliations from any number of bank accounts and legal entities
  • Import unlimited business bank statements from any bank
  • Customized level of bank statement automation
  • Intelligent software that automatically identifies missing General Ledger entries
  • Hands-off approach to reconciliation – can seamlessly run in the background while your team does other tasks
  • Equipped to handle every currency
  • Access to powerful, data-driven overview of your bank statement history
  • Provision of file formats of any type, format, or global standard
  • Support from our consultants with over 20 years of treasury format experience

Seamlessly Handle Countless reconciliations Automatically

Our bank statement automation module is a comprehensive solution that can handle reconciliations from any bank and from any number of bank accounts. We can guarantee that if your team works with a new bank, we will work with your team and your bank to integrate your bank into the reconciliation process. Our module can also handle any number of formats including MT940, BAI2, CAMT.053, NAI as well as many others.

Within our module, there is also a statement monitor which is a great way to track the progress of your bank statements. Through this feature, you can integrate your team’s calendar and bank holidays so you can keep in mind the days that your bank statements are going to be processed.

Highlighting Errors Easily

Our module highlights missing general ledger entries and notifies your team in real-time if your reconciliations have any errors. By displaying errors in a readable and highlighted format, it significantly reduces the time it takes your team to scour your bank statements to find the error.

Different viewing capabilities can help your team identify attention areas. Viewing tabs such as the bank statement reconciliation tab within this module can show your team the open statements that have not been reconciled and relays which statements have not been cleared by the bank.

A Customizable Solution

Your organization may require certain capabilities while not needing others. We want to give your team control over the level of customization so our module can seamlessly fit within your Microsoft Dynamics 365/AX environment. Our consultants will work with your team to customize our Bank Statement Automation module, so your team has a solution that adapts to your needs.

 

To learn more about our Bank Statement Automation, you can schedule a demonstration with us. SK Global’s bank reconciliation software is a key strength of our Treasury Automation Suite for Microsoft Dynamics 365 Finance and Operations

 


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