As a part of my job at Custom Information Services, I speak to many, many different companies in many industries on a weekly basis. I am continually amazed that folks are running their businesses with a very low level accounting package that might have worked for them 2 years ago but is not meeting their needs now or for the future. I do understand that the most important thing for a business to do is increase revenues, and in most cases this is entirely focused around the line of business which could be manufacturing equipment, marketing and sales activities, inventory, or even hiring the best engineers. The reality is companies spend money first on what is going to make them successful with their customers.
Oftentimes in these businesses the executive team has no way of reporting the company’s health. Granted most presidents and executives are in tune enough with the business to know the health, but their back office staff is juggling spreadsheets and spending hours trying to reconcile data for reporting. Either way, not being able to see true operating costs such as inventory, including raw materials and finished goods, sales, etc,. in a general ledger financial report can be very detrimental to growing further. Not having true controls on your financial and line of business software can also leave your company open to theft and with no true tools to analize risks and even keep up with staff performance.
Signs that your company is in need of a true accounting and line of business software could include the following:
No “out of the box” financial reports tied to the general ledger – creating them in Excel
Keeping inventory in spreadsheets
No ties from purchase order to inventory
No ties from purchase order receipts to accounts payable
No integration to your line of business / operational software
Completing more GL journal entries than transactions from your sub-modules
No cash management or bank reconciliation controls
I do absolutely agree that in some cases it is best to run accounting software from Dynamics GP and another package that is best of breed for niche industries depending on the company’s requirements. There are so many available and importing data into Dynamics GP either at the GL or sub-module level is really very easy to accomplish. An example would be to run Dynamics GP for accounting and distribution then run an integrated system such as Vicinity or Horizon’s for manufacturing. Another example is using Dynamics GP for accounting and then importing sales from your line of business software such as an industry specific solution for the radio station industry or eCommerce sales and inventory. This import / integration keeps the data where it should be: available for reporting and auditing - along with the rest of your business.
Most of the new software sales that we implement have the need for importing from line of business to the accounting. From small to very large corporations CIS assists most of our customers in setting up imports which can include added tables with the use of Extender Pro and SmartConnect for real time or batch imports. Find the right reseller to assist you in evaluating Dynamics GP for accounting and that can understand if your line of business software can be integrated / imported or if perhaps it could be replaced with one of the many integrated add on products developed for Dynamics GP.
Custom Information Services is a Microsoft Dynamics GP reseller in North Texas and has specialized in selling and implementing accounting and line of business software to mid-sized companies for about 20 years.
If you care to comment on the information above or have any questions please feel free to contact me at 817-640-0016 x 109 or send me an email [email protected]
by Custom Information Services, your Texas Microsoft Dynamics GP Partner
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