Question / Problem:
I get connection failed in OCR service setup in NAV/D365BC
Answer / Solution:
First, can you login to the OCR service web page? https://nav.readsoftonline.com/
If the login works there, make sure the new password does not contain any of the characters < > or &. These are not support in Microsoft NAV, although they work on the https://nav.readsoftonline.com/. (This will be fixed in a future CU for NAV, according to Microsoft)
If that still doesn't get a successful connection, please make sure there is no proxy stopping the connection. Make sure connection to https://services.readsoftonline.com is allowed.