We are thrilled to announce that Simply Dynamics has become our new partner. They are an Irish Microsoft ERP and CRM partner that delivers world-class business management software solutions and services.
Check out the features of Bankfeed.
In a world where technological advancement is critical to business success, forming the right partnerships can be transformative. Therefore, we’re excited to reveal our collaboration with Simply Dynamics, an Irish Microsoft ERP and CRM partner that delivers world-class business management software solutions and services.
For over fifteen years, Simply Dynamics has been helping customers digitally transform their businesses by automating and streamlining their operations. As one of Ireland’s leading Microsoft Dynamics 365 Business Central partners, the company focuses on enabling customers’ success stories and achieving an effective return on investment in their technology investments. Utilizing Bankfeed will help them fulfil this mission.
“Simply Dynamics is committed to delivering value-added solutions tailored to address industry-specific demands. With the rising need for seamless integration with banks and payment reconciliation solutions, we are excited to offer our clients Bankfeed for Microsoft Dynamics 365 Business Central. Its extensive compatibility with a wide range of banks and user-friendly installation process provides a significant competitive advantage, enabling clients to streamline payment management processes effortlessly”, shares Gerard Foskin, Managing Director at Simply Dynamics.
The partnership between Bankfeed and Simply Dynamics is an essential step in bringing the benefits of automated payment management processes to accountants and business managers all over Ireland and beyond.
“I am thrilled about the partnership with Simply Dynamics. As one of the country’s leading Dynamics 365 partners, it exemplifies a proactive and forward-thinking approach to meeting the ever-changing needs of the Dynamics 365 ecosystem. This collaboration unlocks new opportunities to enhance performance, drive growth, and boost efficiency and productivity for the Business Central user base”, concludes Povilas Safranauskas, Partner Manager at Bankfeed.
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Feel free to leave your question here and we will email you the answer as soon as possible.
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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