We are thrilled to announce that the leader in business software solutions for retail, hospitality, manufacturing, and service industries in Bulgaria, NavTech Group, has become our new partner.
Check out the features of Bankfeed.
The blueprint for tomorrow’s success is often drawn from the partnerships we forge today. Therefore, we proudly announce our collaboration with NavTech Group from Bulgaria, the leader in business software solutions for retail, hospitality, manufacturing, and service industries.
This boutique firm brings together the best in industry expertise and technological innovation to support the digital transformation and business success of their customers. NavTech Group’s commitment to excellence is evident in the company’s portfolio of tailor-made solutions and select partner add-ons, making them an invaluable ambassador of Bankfeed.
“Instead of developing a custom solution for each of our customers, we opted for a partnership with Bankfeed, and we were quickly convinced that it was the right choice. Bankfeed provides excellent support and feature upgrades, instilling trust and confidence in the product while meeting users’ evolving needs,” shares Donka Dimitrova, ERP consultant at NavTech Group.
The partners shared that what they appreciate about Bankfeed is its easy onboarding process, user-friendly interface, and immediate usability for the customers. Because the solution is integrated into Microsoft Dynamics 365 Business Central, it perfectly fits with the other solutions NavTech Group implements and tailors. Donka Dimitrova also adds: “We truly value that the Bankfeed team works extensively to deliver frequent updates and improvements for the benefit of our customers. Moreover, the extensive coverage of local and worldwide banks and the reasonable pricing make it a highly attractive solution to all Business Central users.”
When asked about the plans for the future, the General Manager of NavTech Group, Dimitar Iliev, shared: “We plan on strengthening our partnership and expanding the reach of Bankfeed to more of our customers by showcasing its benefits and functionalities. We aim to highlight Bankfeed’s value across every industry and create many success stories together as partners.”
The partnership between Bankfeed and NavTech Group is an essential step in bringing the benefits of automated payment management processes to accountants and business managers all over Bulgaria and beyond.
“Joining forces with NavTech Group has immediately proved to be a great decision, especially because of their proactive approach to sales and marketing. The first customer installations make me enthusiastic about what we can achieve together and the journey ahead” – concludes Edgaras, 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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