With tax season fully underway, we all know CPAs can get costly to hire in helping with taxes. Just imagine spending that money every time you needed insight into your business reports and processes. Well one of our clients remembers being solely dependent on their CPA for vital business information and cringes to think of the actual figures they spent on that service.
This multi-store retail grocer manages seven store locations in addition to a few holding companies and needed more timely information that could be consolidated while kept separate so they could easily track inventory for each store. In addition to this, they also required more control internally so they could gain quick access to complete information, without having to pay the CPA fees associated. More control would be sure to result in better reporting and streamlined business processes for their company.
They are happy to report that today they no longer depend on a CPA, but rather have full control of their data in a consolidated and easy-to-manage format. While they were searching for new solutions, they learned Microsoft Dynamics® GP was used in a number of other grocery stores and their CPA even recommended it. They had a solution but needed a partner to help them move forward and really optimize the solution to fit their needs. Through their research, they found the TM Group had a long history in the grocery industry.
Our client moved forward and implemented the basic functions of Microsoft Dynamics GP, including Accounts Payables, Accounts Receivables, General Ledger, and SmartList Builder. They also implemented an ISV solution from Binary Stream called Multi-Facility that met their consolidation needs. Our client realized three main benefits after implementing Microsoft Dynamics GP and Multi Facility:
Streamlined Consolidation among Multiple Locations and Companies: With multi facility from Binary Stream, our client can see all their stores in one database within Microsoft Dynamics GP. They can see vendor contact information and work history to easily track the purchase process for each story. They have complete insight into customer data, history, and invoices. The solution also allows them to drill down into profit and loss for each store independently.
Quick and Easy Access to Critical Business Information: Our client was using excel spreadsheets for everything they tracked and were not able to produce financial statements until 4-6 weeks after each quarter. Even with the untimely information they got from their CPAs, they still couldn’t even drill down to the information they needed insight to. SmartList Builder within Microsoft Dynamics GP has created reporting benefits for our clients by centralizing and automating data in one database. The automation of the reporting process has created more functionality when reporting on financials. For example, if they want to run an ad-hoc report for a vendor at a particular location, they can drill down to that information automatically, right within Microsoft Dynamics GP any day of the year. Realizing this functionality is allowing this grocer better business insight to make the critical decisions in order to beat out their competition.
Better Handle on Inventory and Streamlined Order Process: Before Microsoft Dynamics GP, our client had to dig into multiple spreadsheets to find what inventory was available for a particular location. Even then, that data was most likely out of date, as the data was not automatically updated as sales continued on a daily basis. Microsoft Dynamics GP allows for better inventory control. They can now quickly respond to vendor inquiries on status of invoice payments with real-time data from Microsoft Dynamics GP. They can see exactly what was purchased from a particular vendor in multiple time increments in addition to the volume available at the vendor’s warehouse. Microsoft Dynamics GP is also integrated with their POS system so that their inventory is automatically updated each time a sale goes through at each grocery location. All of this insight allows for timely and complete communications with both vendors and customers about what’s available for purchase.
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