Nuvei Enhances Microsoft Dynamics 365 with Integrated Payments and AR Automation

Canadian FinTech company Nuvei has made a significant stride by integrating its payment solutions into Microsoft Dynamics 365 Business Central, according to PYMNTS. This move is set to provide a boost for small- to medium-sized businesses (SMBs) seeking to streamline their operations through various payment methods integrated into their existing enterprise resource planning (ERP) modules. The collaboration was officially announced through a press release on Tuesday, January 30th, 2024.

The integration of Nuvei’s payments technology into Microsoft’s leading ERP platform is expected to offer several advantages to businesses, particularly in sectors such as manufacturing, distribution, wholesale, and construction. It aims to simplify accounting workflows and back-office reconciliation processes.

Nuvei’s Chair and CEO, Philip Fayer, expressed enthusiasm about the integration, stating, “Integrating our payments technology to the market leader in ERP directly connects us to thousands of businesses and millions of users across the globe in a market with substantial total addressable market (TAM).”

Nuvei’s expertise in embedded ERP payments and accounts receivable (AR) automation software is poised to reduce friction and enhance finance department performance. The integration introduces features like invoice matching and proprietary cash acceleration tools, enabling businesses to shorten their days sales outstanding (DSO) or receivables cycles. Additionally, businesses will gain access to near-real-time payment information, facilitating more efficient financial management.

This strategic move aligns with Nuvei’s broader objective of expanding its portfolio of ERP integrations. It is also a significant step in the global payments collaboration between Nuvei and Microsoft, which was announced in December. Initially, this collaboration involved Microsoft leveraging Nuvei’s payments technology in the Middle East and Africa to optimize recurring billing and individual transactions for Office and Xbox customers. Both companies expressed their intention to extend this partnership to other markets and explore additional use cases, such as further integration with Microsoft Dynamics 365.

Mike Morton, Vice President of Dynamics 365 Business Central at Microsoft, emphasized the importance of payments and AR automation in enhancing the ERP user experience, stating, “Payments, including AR automation, is a critical component of the user experience for ERP.”

Nuvei’s technology empowers companies to accept next-generation payments, offer diverse payout options, and leverage card issuing, banking, risk, and fraud management services, according to the press release.

The integration comes at a time when there is a growing recognition of the potential benefits of streamlining back-end operations, particularly in the accounts receivable (AR) sector. Ben Weiner, Senior Vice President and Global Head of B2B Payments at Nuvei, highlighted this opportunity, stating in a November interview with PYMNTS, «Helping businesses invoice, collect sales, and handle reconciliations more efficiently on the back end remains an attractive untapped AR area.»

Nuvei’s integration with Microsoft Dynamics 365 Business Central marks a significant development in the FinTech sector, offering SMBs enhanced payment options and streamlined financial operations. This collaboration is a testament to the growing importance of seamless integration in the world of payments and ERP systems.