Industry-leading Aluminium Extrusion Industry

Spectra Case Study

Implemented Custom EFT Module to improvise Payment Methods

Established in 1978, Spectra Aluminum is a world-class aluminium extrusion industry located near Toronto, Canada. It is a family-owned and operated business with a track record of delivering high-quality aluminium products to worldwide customers. Its sole aim is to provide high-quality products, whether a simple aluminium extrusion or a complex design with a customizable requirement. They offer services managed in-house only like, CAD design, 3D prototyping, Brite Dip and etch custom anodizing, full-colour spectrum dyeing, custom fabrication, automated packaging, and more.

What are The
Business Challenges?

Spectra wanted to implement an EFT (Electronic Funds Transfer) on their existing database per banking portal norms.

They had difficulties managing several vendors and channel partners to release payments.

From printing cheques to advice for banks, Spectra were doing it all manually.

The manual release of payment leads to errors and consumes a lot of staff time, making the entire process cumbersome.

Support Offered to Spectra

Implementing EFT to Manage Payments

Dynamics Square helped Spectra implement the EFT to manage the payments automatically.

Dynamics Square successfully reduced the time taken to process a payment to the vendor.

We helped them eliminate unnecessary steps where the cheque needed to be sent to the vendor for approval.

Also, Dynamics Square configured the system to send the remittance advice automatically to the customer via mail to check the status of any new payment and shows the error, if any.

Benefits

Reduced Transaction Time: The payment transaction processes fluently once the company decide the amount. The employees of Spectra have to click a button, and the system-generated file directly loads into the bank to process the payment.

Eliminate Redundant Tasks: There is no need to print cheques or send them to customers. Most of the manual tasks were eliminated after implementing the customized EFT by Dynamics Square.

Tools to Manage Bulk Transaction: Dynamics Square helped Spectra understand the tools to manage the bulk and frequent transitions.

Implementing the Custom EFT tool by Dynamics Square helped us streamline payments to our vendors and eliminating majority of related manual tasks. Dynamics Square demonstrated a clear and nuanced understanding of Business Central. Working with Dynamics Square meant the project was delivered on Time and without cost overrun.

Mary Nyugen

Spectra Aluminium

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