About the client:
TCI is an iPaaS that provides pervasive integration capabilities in a hybrid, deploy-anywhere model, that enables businesses to rapidly connect their applications and build new ones. Its client provides software-as-a-service, cloud-based payments and spends management products, which allow users to automate accounts payable and accounts receivable transactions, as well as enable users to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve office efficiency. In 2020, it had 98,100 customers and revenues of $158M, translating to an average revenue per customer of roughly $1,600. In 2020, it processed over $52 billion in electronic payments annually for US SMBs and accounting firms.
TIBCO’s marquee customer had the below challenges –
- Due to the lack of integration with the Dynamics 365 Business Central accounting software, there was a need for the accountants to do manual data entry which compounded to their additional billing tasks.
- Absence of cash flow management in real-time, prolonged delays in setting up of payables and receivables rendered payables and receivables management a complex procedure.
- Manual double data entry hampered the accuracy of the billing records, resulting in errors.
CloudFronts first set up Business Central and then moved on to integrate the customer’s payment system with it to make their cash flow, Account payables, and receivables seamless and easy. These Dynamics 365 Business Central (Navision) interfaces provide a two-way active sync, allowing data objects to travel across systems and keep everything up to date. Because the client’s front-end/backend systems and Dynamics 365 are seamlessly integrated, any changes you make in one system will automatically update in the other. These features enable the two systems to function together as one, reducing double data entering and enhancing record accuracy.
- Business Central (Navision)
- TCI Integration Tool
Post Go Live:
TIBCO’s client reported the following benefits:
- Time savings: Integration with Dynamics 365 Business Central Accounting software reduced the time spent on payables processes by almost 50% due to automated and streamlined AP workflows, reduced manual data entry, and flexible, one-click payment options.
- Easier payables and receivables management: By integrating with existing Dynamics 365 accounting software, the client and its customers can now manage cash flow in real-time, set up payables and receivables within days, and quickly and easily pay and get paid.
- Enhanced cash flow visibility and stronger financial process control: Client’s partners now exert full control at every step by managing approval policies with custom workflows, relying on a digital audit trail, ensuring payment accuracy and timeliness, thereby, reducing errors and risks by 90%.
Why CloudFronts? CloudFronts is a Dynamics 365, Power BI and Azure focused Microsoft Solutions Partner. We help companies around the globe deploy their business processes on the Microsoft Dynamics 365 platform.Connect with us