Case study: Microsoft Dynamics 365 Finance, Xe Global Business Payments, and Ultrasource
UltraSource, a prominent manufacturing equipment supplier headquartered in Kansas, embarked on a journey of innovation spurred by the implementation of a new ERP system and the appointment of a dynamic CFO brimming with fresh perspectives. This confluence of change presented a promising opportunity for the company. The Accounts Payable (AP) process emerged as a focal point among the areas primed for enhancement. A heavy reliance on manual tasks, such as compiling payment files and reconciling data, posed a significant impediment to UltraSource's ambitious growth objectives.
Recognizing the imperative for optimization, CFO Rob Mogren spearheaded efforts to modernize the AP landscape. Enter Xe Global Business Payments, seamlessly embedded into Microsoft Dynamics 365 Finance. Xe's revolutionary solution replaced cumbersome manual workflows with automated processes, offering transparent exchange rates and ensuring efficiency and reliability. With Xe's embedded service at their disposal, UltraSource was empowered to redirect resources towards strategic initiatives, secure in the knowledge that their vendor payments were being handled promptly and securely.
UltraSource
Website: Ultrasourceusa.com
Country: USA, MO
Industry: Industrial Machinery & Equipment
Product and services: Dynamics 365 Finance
The challenge
Headquartered in Kansas, UltraSource USA operates globally, collaborating with vendors across North America, Europe, Asia, and beyond. Their Accounts Payable (AP) process is the lifeblood of their operations, a delicate dance of payments, approvals, and reconciliations. However, their outdated process needed modernization:
Manual Efforts and Delays
The AP team manually built payment files, sent them to the bank, and then painstakingly reconciled data back into their ERP system - hours turned into days, impacting productivity
Transparency
Ultrasource relied on their banking partner for cross-border payments. Fees and unclear exchange rates challenged their financial operations.
The Solution
With seamlessly embedded FX data and payments in Microsoft Dynamics 365 Finance, Xe transformed Ultrasource's Accounts Payable (AP) process. Transparent exchange rates, security, and prompt payments executed and managed within Dynamics 365 became their new norm. CFO Rob Mogren could focus on growth, knowing that their financial operations were in safe hands.
The result
When UltraSource USA embarked on their journey with Xe, they anticipated streamlined processes and cost savings. What they didn't expect was the seamless implementation that felt like a breath of fresh air. The transition was smooth, and the AP team quickly adapted to the automated workflows within Microsoft Dynamics 365 Finance.
But the true magic lay in the ongoing service. Xe's support was more than just responsive - it was proactive. Their team anticipated UltraSource's needs, ensuring that every payment flowed effortlessly
Rob Mogren
“As a CFO, I am always looking to support the business and my team with light-lift efficiency, security, and accuracy improvements. Xe's solution ticked each one of those boxes. Using Xe's embedded payments and FX within Dynamics 365, Finance has knocked hours of our AP process each week, allowing my team to focus on other growth-orientated objectives.”
CFO at Ultrasouce USA
Why to choose Xe in Dynamics 365?
Automated Workflows
No more manual file handling. Payments flowed effortlessly within Dynamics 365 Finance. The AP team redirected their energy toward strategic tasks.
Security and Reliability
All transactions occurred within Dynamics 365 Finance, bolstering data security. Rob Mogren, CFO, slept better at night, knowing their financial data was safe.
Prompt Payments and Cost Savings
Vendors received payments faster. Relationships improved. Days were saved, costs reduced—a win-win for UltraSource.
Interested in Xe's ERP business solutions?
Our experienced team is ready to discuss your company’s unique needs. If you are interested in partnering with Xe, drop us a line. One of our international business experts will be happy to help.
