What Our Customers Say
“As one of the largest privately owned trucking companies in the US, we choose to work only with proven solution providers that can understand our unique business requirements. Binary Stream’s track record and history of Great Plains experience lead us to their Loans Manager, which has proven to be an extremely effective enhancement for any truck leasing business using Microsoft Dynamics GP. I highly recommend Binary Stream for any trucking company using Microsoft Dynamics GP.”
~ Scott Davidson, IT Manager, Fleet Solutions, Inc.
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A Solution for Professional Football Season Ticketing Practices
A well-known professional football club in the American Football Conference was struggling to manage their annual season ticket sales in Microsoft Dynamics GP. Having several clients with whom they had sold several years of full season tickets in advance, the team’s accounting department was managing periodic payments for these tickets with additional interest and taxes incurred across the entire time period. These arrangements were very similar to loans and as such they involved compound interest calculations, varying payment schedules and recurring billing with penalties for late payments.
The football team recorded their client information for these ticket sales in Microsoft CRM and were creating calculations for the invoices within excel before bringing this information into Dynamics GP. This process was immensely time consuming and required great attention to detail on the part of the accounting department to ensure everything was being calculated correctly. In late 2008 the team decided they could be managing these long term ticket sales more effectively and sought to find a solution.
A Loan Solution to meet Deferred Payment Needs
Soon after beginning their search, the football team came across Binary Stream’s Loans Manager. The Loans Manager presented several functional benefits for the football club and offered them the ability to flexibly process their ticket sales the way they wanted to.
Microsoft CRM & Microsoft Dynamics GP Integrations
Starting from Microsoft CRM, the football club could enter their client information into CRM which would automatically import data into Microsoft Dynamics GP on a period basis, which was determined during the set-up process. Once this information was in Dynamics GP, a payment schedule would be created with interest being compounded and invoiced based on the information entered into CRM at the start of the process. By pulling this information from CRM and initiating the payment schedule, the football team could easily avoid numerous interest calculations and manual data entry hours.
Creating Payment Schedules
Since there were several scheduling options available, including flexible billing periods and interest types, having monthly and annual payments with matching compound interest schedules would be no problem. Additional late fee and early payment options also appealed to the football club since they did apply these tactics to their ticket billing process. When invoices were created, they could easily be batched processed to quickly be delivered to the clients within one email blast.
Mass Payment Processing
At the end of the billing process, mass cash processing in the software offered them an automated way to handle payment processing. For cash, credit card, check or EFT payments they could greatly simplify their processing through the Loans Manager to by-pass the intermediate posting steps within GP. This functionality would save them hours in back-end processing.
After a review of the software, the football club purchased the Loans Manager. Today they are successfully using the software and seeing these benefits in action.