When you buy a new ERP Software system you need to be sure you choose a package that has the functionality you need now and also the capabilities you might need in the future as your company grows.
Multi-entity accounting is a common need for many growing companies. With the acquisition of new businesses, geographic growth, new product line expansions or other factors that create the need for security between divisions, companies often end-up adding additional companies/databases within Microsoft Dynamics GP to accommodate their growing structures. As a result, various process inefficiencies can arise due to this structure.
If you are using Microsoft Dynamics GP you can solve these multi-entity challenges with from Binary Stream. This option enables companies to manage multi-entity structures within one database while still upholding tight security permissions and facility divisions. Below are 3 key areas to consider when choosing a single database structure over multiple databases.
1) Simplified Day to Day Processing
Day to day processing between databases is greatly simplified within a single database. Working from one place ensures consistent master account coding and can save you large amounts of time processing transactions in different divisions of the company. Time is also saved by eliminating the need to sign in and out of each Microsoft Dynamics GP database, a task which can take up to 3 minutes for each occurrence.
2) Automated Intercompany Processing
Companies that operate in a multi-entity structure often find themselves processing a large number of intercompany transactions that need to be properly administered across the structural divisions. With Multi-Facility Processing, intercompany processing is primarily automated, saving time and ensuring accuracy across transactions.
3) Streamlined Reporting
While divisional reporting is straightforward in a multiple database environment, any consolidated reports can be a huge ordeal. The greater the number of databases being utilized and managed, the greater the consolidation process and the longer it will take. By having everything in one database reporting for the division becomes as convenient as reporting for the company as a whole. This greatly increases the ease of periodic reporting and significantly streamlines the time it takes to run year-end.
With many companies trying to reduce costs, solutions like Microsoft Dynamics GP and Multi-Facility Processing can enable users to find greater extended usage in Microsoft Dynamics GP. By bridging the gap between Microsoft Dynamics GP and an upgrade to expensive tier one solutions, this combination promises a great value proposition for expanding organizations.
To find out more attend an upcoming .
You can learn more about this tool and other by attending on October 13th in Cromwell, Connecticut. One of the best ways for new accounting software buyers to choose the right solution for their needs now and in the future is to see the tool in action and talk to existing users, so we hope to see you there.
By CAL Business Solutions, servicing New England
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