In our first part of this blog, we discussed how Magento and Dynamics GP differ on features which impact the pricing of the product. Now we will highlight some payment-related features that are highly important from a business perspective and compare them across the two systems. As previously illustrated, there are certain features available in Dynamics GP which are not available in Magento, and vice-versa. Integration enables the two unfamiliar systems to communicate with each other but does not completely render as redundant the functionality of each.
Credit Limits, Net Terms, EMI Schedule
Credit Limits, Net Terms and EMI Schedule are all related features and very widely used in Dynamics GP. While Credit Limits allows customers to purchase a product on credit, Net Terms defines the timeline for payment and EMI Schedule allows users to pay through a monthly installment plan.
- Credit Limits
- Net Terms
- EMI Schedule
Credit Limits as mentioned above is used in Dynamics GP to allow customers to purchase an item on Credit. Using Credit Limits, the business defines an upper limit to the total purchases a user can do on credit. Purchasing an item on credit is usually a B2B scenario, and because Magento was designed to be a B2C system, it does not support this function.
Net Terms in Dynamics GP is used to define the payment schedule for the purchases made on credit. For example, if a user has made a purchase on credit with Net 30 Terms, it means that the user agrees to pay in one installment within 30 days (from the day of purchase). This feature again is not supported in Magento as it was not designed to support orders on credit.
EMI Schedule in Dynamics GP allows a customer to pay for purchases made on credit in multiple installments. EMI schedule goes hand in hand with Credit Limits and Net Terms and, as with those features, Magento does not support it.
Now imagine a situation where you would like your B2B customers to go online and shop through your e-commerce store. While B2B customers may be more than willing, they can’t do it because your store currently does not support Credit Limits, Net Terms and EMI Schedule. You are then left with two options, either build another e-commerce system for your B2B customers (replicating all your efforts), or extend your Magento e-commerce store to support the necessary features. With i95Dev Magento GP Connect, we have not only extended Magento to support Credit Limits, Net Terms and EMI Schedule, but also sync this information with Dynamics GP to make it convenient and effortless for businesses to run and easily scale up their operations.
Multi-Payments is a feature that enables customers to make a payment, for a single order, using multiple payment gateways (methods). For example, a customer has made a purchase amounting to $500. While making payment, he realizes that he only has $250 in his checking/debit account and would like to pay the rest using his PayPal account.
By default, Dynamics GP provides the infrastructure to support multi-payment functionality at an ERP level, but Magento allows only store credits to be used with other payment methods. It is important to note here that while both systems support multi-payment functionality they each have their own limitations.
With so many differences between the two systems, it’s essential to consider the benefits of integration, allowing the two systems to find a common language for communication. In some cases, this will extend the functionality in one system and in other cases, it will limit it.
How can i95Dev help?
i95Dev Magento Dynamics GP integration is the key to unlocking the potential of both the ERP and the e-commerce cart. Integration streamlines business operations and delights customers. To find out how, please contact us at http://www.i95dev.com/contact/or give us a call at 301.760.7499.