Should we keep our Payment Mgmt system?

​This question has arisen as NAV 2016 has a standard international Cash Management feature, which in some areas, overlaps with the Topaz EFT module, i.e. Payment Management. 

Topaz EFT Payment Management 

Our answer is if you want to have a New Zealand centric solution specifically designed for 

  • New Zealand trading terms and conditions 
  • New Zealand trading bank formats; and 
  • New Zealand transfer protocols 

Then, use the Topaz EFT Payment Management solution 

Topaz supply ready formats for all payment types and methods for all banks in New Zealand, so you can always be sure to make a transfer regardless of which bank and method you use. 

Cash Management in NAV 2016

The Cash Management functionality in Microsoft Dynamics NAV 2016 is not a complete solution, rather a framework. To draw a comparison, this framework can be seen as an overall foundation, on which you can build your house. In the same way, you get the foundation in NAV 2016, It means that you will soon need to purchase additional consulting and development hours from Topaz, in order to end up with a solution that works for your real needs. And such a foundation might be limited to the payment types and formats for the bank, you are currently using. Banking formats change over time - as they always have – meaning it will cost additional hours to fix and update. 


With Topaz EFT Payment Management, you are naturally obliged to pay a minimal extra license fees and annual subscription.  Compared to the price when using standard NAV Cash Management, the total cost of a "NAV Cash Management build just for you" will very quickly exceed the total price you give for Topaz EFT Payment Management.  

Topaz EFT Payment Management is still the most cost effective, NZ centric and most reliable solution you can use. 

If you have any questions regarding the above, please feel free to contact This email address is being protected from spambots. You need JavaScript enabled to view it.

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Tuesday, 19 March 2019

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