Article

Money Talks, So Why Are Your Microsoft Dynamics AX Payment Documents Whispering?

by Dan Gangai
Director of Product Management, Create!form Bottomline Technologies,

Of all the documents your business distributes, whether it's to suppliers, partners, or employees, perhaps none has a higher read-rate than payments. That shouldn't come as a surprise--after all who doesn't like to get paid? But unlike other types of documents (i.e. invoices, monthly statements), which are used to communicate a wide variety of messages and notifications, the information contained within a payment pales in comparison. For many organizations, providing the information relative to the payment - and nothing else - represents a missed opportunity, one that can lead to reducing operational costs and improving sales.

Providing More Than a Dollar Amount

Processing outbound payments has traditionally been viewed as a process with little value-add, and an overhead cost that needs to be minimized. As a result, many organizations have adopted a ‘just the facts approach' to payment information, choosing a one-size-fits-all payment details section that accompanies a check or payment voucher. Among businesses' core constituencies, however, there is an opportunity to deliver targeted messages or information to specific recipients. Let's take vendors, customers, partners and employees, for example. For those four audiences, expanding the scope of information included with payments could manifest itself in the following ways:

Vendors:

  • A warning message to 1099 vendors that future payments may be delayed if a tax ID is not provided.

  • A summary of year-to-date and life-to-date payments made to remind vendors of your business's loyalty, for future negotiation of payment terms.

Customers:

  • Highlighting discount offers or an apology letter to a credit/refund, payment to strengthen customer relationships.

  • Adding up-sell marketing information for items related to a ...

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About Dan Gangai
Dan Gangai serves as director of product management for Bottomline Technologies, and possesses extensive domain expertise in document process automation and ERP systems, including Microsoft Dynamics. In his present role, Dan works closely with organizations leveraging Bottomline’s Create!form product suite to optimize their investment in Microsoft Dynamics AX through more efficient and cost-effective transactional document processes. Prior to joining Bottomline in 1999, Gangai served as a consultant specializing in ERP implementations with a specific emphasis on tailoring reports to meet strategic business needs.
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