Nuvei Partners with Microsoft to Simplify SME Payments
Canadian fintech company Nuvei has revealed its recent collaboration with Microsoft Dynamics 365 Business Central, an Enterprise Resource Planning (ERP) solution designed for small and medium-sized enterprises. This collaboration empowers global organizations to integrate diverse payment methods, including card payments and instant bank transfers (including ACH transactions in the U.S.), seamlessly into their current Dynamics 365 Business Central module.
The integration is focused on streamlining accounting processes, optimizing back-office reconciliation, and boosting the operational efficiency of finance departments in sectors like manufacturing, distribution, wholesale, and construction. Nuvei's integration introduces functionalities such as invoice matching and exclusive cash acceleration tools, aiming to reduce the Days Sales Outstanding (DSO) cycle for businesses.
Furthermore, it provides access to nearly real-time payment information, facilitating efficient reconciliation of financial data across systems and supporting faster, more informed decision-making. This collaboration expands on Nuvei's ongoing global partnership with Microsoft in the payments sector, as announced last month. Nuvei expresses its commitment to exploring collaborative opportunities with Microsoft in diverse geographical locations and use cases.
Philip Fayer, Nuvei's Chairman and CEO, commented, "Our technology and expertise in B2B payments and ERP systems empower us to provide businesses with integrated payment solutions through their commerce platforms, enhancing customer reach, optimizing working capital, and driving internal efficiencies. Integrating our payment technology with the leading ERP market player directly connects us to numerous businesses and millions of users globally, representing a substantial total addressable market (TAM). This marks an exciting strategic milestone as we expand our emerging payments channel".