Check writing is still a preferred payment option been used by the US businesses. To detect frauds, all the major banks in the US implement PositivePay or sometime known as SafePay as a fraud prevention and detection tool. PositivePay requires businesses to extract the both printed and voided checks details in a file. The file will then be imported either manually or automatically to the respective bank securely. Through this bank is going to know the specific information about the payments been issued by the respective business. Some of the very common information generally requires by a bank include:
- Check number.
- Beneficiary name.
- Check issue date.
- Check amount.
This seems to be a fairly straight forward process? Actually this is not a straight forward process as we think. Every bank has its own unique file formats requiring data in a specific file format. Printing a check is a widely used feature in Microsoft Dynamics 365 Finance and Supply Chain. Microsoft has provided multiple ways to extract the positive pay file out of Dynamics and it is always improving since AX 2012. Youcan read here about how to configure the positive pay file export in Dynamics 365. The only downside which I found is that it still requires some knowledge of the XML (Extensible Markup Language) and XSLT (Extensible Style Sheet Language Transformation) which business users lack.
Identifying this as a product gap, Impulz Technologies has recently upgraded its flagship Microsoft Dynamics 365 add-on for the US market, Impulz SafePay. With Impulz SafePay, an end-user can configure the entire bank file format using the familiar and user friendly screens. Impulz SafePay, also ships with pre-configured formats which further reduces the configuration time required.
We will be publishing the further details about our Impulz SafePay tool in coming weeks. If you like to schedule a product demo or just want to talk more about services then please free to contact us.