We are thrilled to announce that a leader in simplifying Microsoft Cloud solutions, Bam Boom Cloud, has become our new partner.
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We are thrilled to announce that a leader in simplifying Microsoft Cloud solutions, Bam Boom Cloud, has become our new partner.
Check out the features of Bankfeed.
What if there was a partnership designed to catapult your business into the future, making the most advanced tools not just accessible but effortless to integrate? Today marks the announcement of our partnership with the German branch of Bam Boom Cloud (a part of Pax8), a leader in simplifying Microsoft Cloud solutions for the growth and success of micro, small and medium businesses.
Bam Boom Cloud seeks to make cutting-edge technology, such as Microsoft Dynamics 365 Business Central, accessible, cost-effective, and easy to implement. Their customers can look forward to enhanced data analytics, swifter business processes, improved workflows and productivity, and a comprehensive overview of the business performance.
“We offer a range of software packages, including partner solutions to serve specific customer needs. Lately, we‘ve been hearing many requests for integration with banks and payment reconciliation solutions. To address that, we are offering our customers a choice between two providers: Continia OPplus and Bankfeed. Among Bankfeed’s strengths are its extensive compatibility with a wide range of banks and the ease with which it is installed, offering significant advantages to our customers”, shares Verica Jurkovic, Business Central Senior Consultant at Bam Boom Cloud.
The partnership between Bankfeed and Bam Boom Cloud is an important step in bringing the benefits of automated payment management processes to accountants and business leaders all over Germany.
“We appreciate Bam Boom Cloud’s initiative to expand their portfolio by offering an alternative to Continia OPplus. While in essence, both solutions are focused on automating the payment management process, their functionality, pricing, and, therefore, the customer base are different. It allows our partner to meet the connectivity and automation needs of a broader range of customers. I am confident that our combined efforts will open new avenues for growth and efficiency of Business Central users,” – concludes Povilas, Partner Manager at Bankfeed.
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Hello,
I found this Dynamics 365 Business Central add-on that would save me tons of time by automatically importing bank statements and matching payments with invoices.
It has certain technical requirements like an up-to-date Business Central version and banks that comply with the PSD2 open banking protocol. Could you please check the requirements and let me know if we are able to use the Bankfeed app?
The requirements are here: www.bankfeed.com/faq/, or you may contact the add-on’s developers at hello@bankfeed.com.
Bankfeed works as an add-on for Microsoft Dynamics 365 Business Central. Therefore the usage of this ERP system is necessary. The solution works best with the three latest versions of Business Central.
Before installing Bankfeed, we recommend checking if the following conditions are met:
1. Open banking API (PSD2) is not occupied.
If you use online payment provider services (Wordline, Wordpay, etc.), they might be connected through an open banking API. Therefore, Bankfeed will not be able to connect to this API as it is already occupied. In these situations, we can connect Bankfeed through the bank’s direct API, known as a Gateway. However, it usually requires additional banking fees and additional implementation hours.
2. Banks provide the information required for recognition and reconciliation.
Even though open banking is regulated using the PSD2 protocol and is mandatory for all EU banks, the banks treat these requirements differently. The amount of information provided through the APIs and its quality can differ depending on the bank. This can lead to a situation where Bankfeed will not be able to properly identify customers/vendors or documents because of the lack of data.
Here is a list of mandatory bank fields needed to enable Bankfeed’s payment recognition and reconciliation. Please check HERE if the banks you are using provide the information from these fields:
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