As the top-selling Microsoft Independent Software Vendor (ISV) in the Dynamics channel, year after year we continue to perfect our current financial automation solutions and provide valuable built-in enhancements to the D365 Finance ERP. We take pride in delivering the highest quality of fintech automation that is certified and approved by Microsoft. Our solutions possess the capabilities to scale and help companies globally of all sizes and in any industry. With 27+ years of experience, we have been able to develop advanced functionality that works with any bank and any format worldwide. To wrap up another successful year, we wanted to provide a summary of all the new releases we have added to our product offerings in 2022.
At the end of 2021, we introduced four new modules to the market:
Supply Chain Finance
We built the Supply Chain Finance module to give organizations the ability to automate their accounting needs throughout the SCF loan repayment process directly within their D365 F&O ERP. Our SCF management solution allows companies to streamline the process of getting invoices to the provider and settling those invoices with the provider when due, all on embedded in the D365 platform. Either based on invoice due date or a funding file from the SCF provider, our solution resolves the payable to the original provider and automatically generates an invoice payable to the Supply Chain Financing provider. That invoice can then be processed through normal payment processing including our APEFT solution.
Another advanced enhancement we introduced to the market this year is our Bank-to-Bank Transfer solution for D365. Specifically designed for companies with complex banking structures, our Bank-to-Bank Transfer module streamlines the manual process of signing onto a bank portal to initiate transactions between multiple bank accounts within the organization. The solution automatically tracks and records the bank transfers into a D365 journal for easy reporting and easy bank statement reconciliation.
To simplify the procedure of generating customer reimbursements within Microsoft Dynamics 365 Finance, we launched our Customer reimbursement automation solution. With our customer reimbursement solution, you can automate the process of issuing electronic refunds and reimbursement payments to customers with credit balances. The process for customer reimbursements in the Standard D365 ERP is to create a vendor and bank record, linking the vendor and customer accounts, and moving the customer credit balance to the linked vendor and payment of the vendor. During this process, the user must make sure to keep both the customer and vendor bank account in sync when changes are made. To solve this limitation, we built a customer reimbursement solution that fully automates customer reimbursements with inbound and outbound files and journal updates. This includes enhancements to the proposal process that allows you to select thresholds for amounts and age of credit balance to trigger a reimbursement.
To heighten security and simplify administration over the storage and transmission of banking files, we introduced our hosted BankFabric solution in 2022 to replace the legacy “FileHub” solution. Seamlessly integrates with D365 Finance, our module provides unparalleled security through eliminating the need to download sensitive banking files to the desktop or to maintain a separate server. BankFabric is a Software as a Service (SaaS) solution that is completely hosted in Azure. Our solution provides a single easy-to-use interface to manage all banking connections including instances, environments, and banks using one URL. BankFabric integrates fully with the most recent Dynamics 365 Finance version as a part of our Treasury Automation Suite. This solution now supports both API and file-based SFTP connectivity with hundreds of banks, globally.
Introduced Premium Treasury Automation Suite
To support companies with complex banking footprints and advanced automation needs, we introduced our Premium Treasury Automation Suite to the market last year. The Premium Treasury Automation Suite comes with additional banking formats and extends upon the automation provided in the Core Treasury Automation Suite. With the purchase of our Premium suite, the customer can enjoy credit card reconciliation, payment factory, customer reimbursement, multi-company EFT, and Bank-to-Bank transfer automation in addition to the functionality included in our Core Treasury Automation Suite. Additionally, this feature-rich suite includes four bank formats instead of just the two included in the Core Treasury Suite.
Deep Dive of Each Quarterly Release in 2022
Treasury Automation Suite 11.4 – Quarter 1 2022
In quarter 1 of 2022, we built additional features for our bank reconciliation, AReSettlement, and direct debit modules. To enhance the automation in our Bank Reconciliation solution, we added support for multi-currency bank accounts. We designed this feature to aid our European customers who conduct business internationally. The added automation allows bank accounts to be reconciled while holding multiple currencies.
We extended the functionality within our AReSettlement module to auto-settle AR Payments. Our auto-settlement feature took our AReSettlement solution a step further by automatically matching any unapplied payments and credit memos to invoices within the ERP.
For our direct debit module, we added numerous new features to streamline the process of adding or removing mandate agreements to customer accounts, auto-creating bank accounts, and updating the payment method and cancelled mandates fields.
Also, new to the market in Q1 of 2022 was support for BankFabric Library (BFL) formats. Within this release, we simplified the process for changing and adding formats. No longer does a Microsoft deployment need to be scheduled/executed when adding a new format, nor modifying existing. To be able to utilize these BankFabric Library formats, the customer must be on the Treasury Automation Suite version 11.4 or higher. These BFL formats can be used by both our BankFabric and our legacy FileHub customers.
Treasury Automation Suite 11.5 – Quarter 2 2022
For the Treasury Automation Suite 11.5 release, we added additional features to our AP EFT+, Customer Reimbursement, and Bank Reconciliation modules. To the AP EFT+ and Customer Reimbursement solutions, we built a feature that gives the ability to auto-configure bank account detail setup when the payment type does not require a bank account. We added further enhancements to our APEFT solution, like the ability to automate important eBanking details records during processing. To support the matching of multiple payment journals within the same day, we enhanced the journal summary rule within the Q2 release to our Bank Reconciliation solution.
Treasury Automation Suite 11.6 – Quarter 3 2022
Within the Q3 release, we added additional features to our Bank Reconciliation, BankFabric, and AReSettlement modules. For Bank Reconciliation, we built new options for GJ mapping lookup and expanded data capture. In BankFabric, we added API support for our APEFT and Bank Reconciliation modules. Lastly for AResettlement, we added configurable field delimiters.
We hope you enjoyed the recap of our past releases and new modules. We have some exciting new releases in Q4 regarding our API capabilities. Follow our release updates page to get more information on what’s coming up.