Making world-class decisions is imperative for any organization to succeed, and the ability to do it quickly and efficiently gives a competitive advantage. This also includes the ability to quickly use solutions, such as Microsoft Dynamics 365 Business Central and Microsoft Dynamics 365 Finance. Achieving quick results when implementing or making changes to a system provides confidence among the team, provides momentum for future tasks, and generates excitement. The excitement for Dynamics 365 is growing along with its global popularity, and there will be many implementations over the next few years. Additionally, many organizations will need a corporate performance management (CPM) tool to achieve Reporting and Budgeting that enables world-class decision-making. Enabling world-class decision-making involves many areas for organizations.
The first is to ensure that all employees have access to the data that meets their needs. Employees in finance and accounting need general-ledger and sub-ledger data while a warehouse manager requires inventory data and an executive needs specific key performance indicators (KPIs) across the organization. Secondly, the data presented should be easy to access, quick to view, and highlight areas of impact. Providing reams of data will not allow an employee to make quick and accurate decisions, but it will if the data is provided in a way that emphasizes the information that affects their decisions. Third, it is imperative to be able to access the detail data in a clear and concise way from Dynamics 365. This allows the employee to research information quickly and effectively to determine issues, research questions, and make sound business decisions.
The question that may arise is, how do we do this effectively and efficiently? Effective reporting has standard reports that are mandatory for all businesses, such as Income Statements, Cash Flows, Balance Sheets, and similar financial statements. The second part of effective reporting is to have reports that provide KPIs, Benchmarks, or other similar decision-making metrics. The KPI reporting takes longer if this is not currently a concentration in the organization, as this requires interviews, data analysis, and mocking up examples. However, the ability to rapidly implement and create the key financial and operational reports for Dynamics 365 is critical for all organizations. A separate CPM reporting product will provide many additional features that ERPs do not have, such as having a separate reporting data warehouse, which allows for easier slicing and dicing of data for reporting analysis. It also allows combining data from multiple data sources to do combined reporting and analysis.
With Solver for Business Central you can get up and running in as little as a day. You can implement a starting package of reports and budget input templates in the cloud. We call this QuickStart for Solver. By bringing key data such as GL, AR and AP into the Solver data warehouse through a pre-configured connector and using the QuickStart wizard to map your account hierarchy for the Income Statement, Balance Sheet as well as Power BI dashboards, you can have data quickly ready for reporting and analysis. In short, you get a typical 20-25 day implementation down to s single day! Your forms and reports are ready to distribute across the organization with no or minimal cosmetic changes, such as adding the company name, company logo, etc. Solver QuickStart comes with templates for Budget input, Forecast input, Balance Sheet, multiple Income Statements, Trial Balance, and more 50 pre-built Power BI dashboards. By implementing with Solver's QuickStart a company can be up and running with Reporting and planning for Dynamics 365 very quickly. This rapid implementation provides a quick win and shows the power of implementing a CPM tool. By getting a quick return on investment, you can set the stage for doing additional implementation throughout your company and gain the full power of a CPM tool like Solver.
If you are a Dynamics 365 user and you are looking for a CPM tool to achieve reporting and budgeting, Solver may be a good fit for you. Solver enables world-class decisions with Solver, a leading web-based CPM suite made up of budgeting, reporting, dashboards, and data warehousing, delivered through a web portal. Solver offers BI360 through cloud and on-premise deployment and is reinventing CPM with its next generation solution. Solver empowers business users with modern features including innovative use of Excel in the model design process. If you’re interested in learning more, our team is excited to hear about your organizational needs and goals .
TAGS: Reporting, Budgeting, ERP, Financial Reporting