Copilot for Dynamics 365 Business Central: What to Know

Table of Contents

1. What does Copilot do in Business Central?
2. What are the benefits of Microsoft Copilot?
3. How much does Copilot Cost in Business Central?
4. Business Central Copilot bank reconciliation
5. Transform how work gets done with Business Central and Paystand

Key Takeaways

• Microsoft Copilot in Dynamics 365 Business Central offers AI-powered tools to streamline repetitive tasks and enhance user efficiency.
• Paystand's integration with Dynamics 365 Business Central provides robust AR automation, simplifying invoicing, payments, and reconciliation.
• Copilot provides real-time guidance, personalized recommendations, error prevention, and workflow improvements across marketing, bank reconciliation, collections, and more.
• Paystand's B2B Network accelerates cash flow, reducing DSO and optimizing working capital through automated payment processes.

The digital payments landscape is evolving, and finance teams must find efficient solutions that drive automation and growth. For this, Microsoft Copilot in Dynamics 365 Business Central offers AI-powered tools for task automation. However, Paystand delivers a broader solution for accounts receivable processes.

Curious to learn how Paystand’s native integration can optimize your AR workflows and increase cash velocity? Read on to discover the advantages.

What Does Copilot Do in Business Central?

Copilot is a tool in Business Central that provides real-time guidance and assistance to users as they work. It offers intelligent task recommendations, contextual help, guided walkthroughs, real-time error prevention, personalized learning, integration with external data sources, and continuous improvement. It helps users understand the purpose of different elements, complete complex tasks, and prevent errors. It also adapts to individual preferences, accesses external data, and stays up-to-date with the latest features.

What Are the Benefits of Microsoft Copilot?

Copilot is designed to streamline marketing text suggestions, bank reconciliation, collections, natural language interactions, predictive analytics, and automate repetitive tasks.

Here's how Copilot enhances various aspects of the workflow:

• Marketing text suggestions: Copilot creates personalized marketing text suggestions by analyzing product data, customer profiles, and market trends.
• Bank reconciliation: Copilot automates bank reconciliation, matching transactions and identifying discrepancies, saving time.
• Collections: Copilot analyzes payment patterns and suggests optimal contact times with customers, accelerating cash flow and reducing overdue payments.
• Natural language interactions: Copilot enables natural language interaction with Business Central, simplifying user data access and task performance.
• Predictive analytics: Copilot uses predictive analytics to spot potential issues and opportunities by analyzing historical data and current trends.
• Repetitive task automation: Copilot automates repetitive tasks, freeing employees for more strategic activities.

With Copilot for Business Central, businesses can unlock the power of AI to improve efficiency and drive growth. However, regarding AR automation, Paystand offers a robust solution seamlessly integrating into Microsoft Dynamics. This simplifies the AR process through native functionality, offering automated invoicing, payments, and reconciliation.

How Much Does Copilot Cost in Business Central?

Copilot offers two pricing tiers:

1. Free version with basic AI functionality

2. Premium version, which costs $30 per user per month

When it comes to AR, you need more than bank reconciliation and basic reporting. You need solutions like Paystand that provide robust features that optimize payments and streamline AR processes within Business Central. These features eliminate manual intervention, resulting in substantial cost savings.

By automating tasks such as invoice creation, payment processing, and reconciliation, Paystand significantly reduces labor costs associated with traditional AR management.

Business Central Copilot Bank Reconciliation

Bank reconciliation is crucial for businesses to ensure that their financial records accurately reflect their transactions. Copilot can help streamline this process by leveraging its AI capabilities to match transactions automatically. This feature saves time and effort compared to manual reconciliation, reducing the risk of errors and identifying discrepancies promptly.

Paystand offers a similar benefit but with an added focus on payment reconciliation within Microsoft Dynamics 365 Business Central. The integration automates matching payments with invoices, eliminating the need for manual data entry and reducing the risk of errors. This can greatly improve the efficiency of accounts receivable processes, allowing businesses to focus on other critical tasks.

One key advantage of Paystand’s payment reconciliation is how it handles complex scenarios, such as partial payments and recurring subscriptions. The platform can automatically apply payments to the correct invoices, even if they are split across multiple transactions or have varying payment terms. This eliminates the need for manual intervention and ensures that businesses have a clear and accurate view of their financial position.

Paystand also offers robust reporting and analytics capabilities that give businesses insights into payment patterns and cash flow. This information can be used to identify trends, optimize payment processes, and improve overall financial management.

Transform How Work Gets Done with Business Central and Paystand

Microsoft Copilot aims to transform workflows by making routine tasks easier and more efficient. However, Paystand offers a highly specialized solution for finance teams looking to streamline their AR processes.

Paystand’s integration with Business Central provides:

• Seamless AR automation
• Native payment collection tools
• Automated invoicing and reconciliation
• Enhanced workflow efficiency through QuickBooks to Dynamics 365 Migration

With Paystand, finance teams can experience enhanced efficiency and cost savings, ensuring seamless AR operations. The native integration with Microsoft Dynamics automates AR processes, eliminating manual tasks such as payment collection, reconciliation, and invoicing. These time-saving features are crucial for CFOs, Controllers, and AR Managers, allowing them to focus on strategic initiatives.

Paystand's B2B Network further streamlines AR operations by connecting businesses, simplifying payments, and providing real-time visibility into cash flow. Automated reminders and proactive notifications help reduce DSO and accelerate cash velocity, enabling businesses to optimize their working capital and improve financial performance.

Ready to experience the power of fully automated AR processes in Microsoft Dynamics 365 Business Central? Discover how Paystand can revolutionize your invoicing, payments, and reconciliation by visiting our Microsoft Dynamics Integration page and learning how to eliminate manual AR tasks from your workflow today!