Codat’s new integration marks the first connection to a mid & large scale business focused platform.
Codat’s highly anticipated integration with Microsoft Dynamics 365 Business Central marks our first connection to an ERP platform focused on mid & large scale businesses. The new integration will bring our total number of supported data sources to 17 and will increase our coverage by approximately 0.6% in the UK and 1% in the US.
This release will allow Codat to better support our clients and their business customers who have reached heightened growth and require a more complex system to manage their enterprise.
The integration will allow for the pulling of both payables and receivables data such as the Profit & Loss statement and Balance Sheet.
For an up-to-date list of what software Codat supports see our docs.
Coverage
There are an estimated 160,000 businesses using the Microsoft’s Dynamics 365 family of services, with 2.7 million users globally – most of which are medium sized businesses who have migrated from platforms such as Xero and QuickBooks as they have experienced growth.
Use of the platform is global and growing rapidly in North America, Europe, Canada, Australia, South Africa, the Nordics and Asia. In addition, coverage is scheduled to be extended to the Middle East by 2021.
What data are we pulling?
Codat’s new integration with Business Central facilitates the pull of both receivables and payables data including:
- Company
- Chart of Accounts
- Profit and Loss
- Balance Sheet
- Customers
- Invoices
- Credit Notes
- Suppliers
- Bills
- Bill Credit Notes
- Bank Accounts
To gain a full understanding of exactly which data sets are available to pull, please visit our docs.
Who will stand to benefit?
As the integration marks Codat’s first connection to an ERP platform focused on medium sized businesses, both existing and new clients stand to benefit from the notable increase in coverage of a historically underserved market.
Financial service providers will benefit from a white-labelled and seamless integration which will provide almost instantaneous access to the business management data of their mid – large scale business customers. This will offer lenders in particular critical insights into the financial health of their applicants and existing customers. The integration also mitigates the need for a costly and time consuming in-house build.
This in turns means that the mid – large scale business benefits as they will no longer be required to manually input data into the Business Central platform, a process that is particularly arduous and prone to human error.
What’s next?
We want to ensure that all businesses using Microsoft Dynamics 365 Business Central have access to the financial products crucial to their ability to scale and flourish.
In the coming weeks, we will achieve full pull coverage by adding the following data types to the integration:
- Bank Transactions
- Payments
- Bill Payments
- Tax Rates
- Journals
- Invoice and Bill attachments (for receipt capture)
Codat will continue to work closely with Business Central to continually add to our existing product offering. In the near future, Codat plans to expand its capabilities to support the push of payables and receivables data such as bill payments and invoices to facilitate business and commerce apps.
For more information on our future plans for our Business Central integration, keep an eye on our public roadmap here.