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iCepts Technology Group, Inc.

4 Primary Benefits in Financial Management of Moving from Entry-Level Accounting System to Microsoft Dynamics NAV


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Legacy ERP or Entry-Level accounting systems are adequate until your company grows and then there are typically limitations in accounting system functionality, data base performance, or even adding additional users that can keep your company from growing and staying competitive.

As your Wholesale Distribution Company expands, you will notice an unacceptable delay in the menus and screens while navigating your current system.   In addition, printing reports will also be painfully slow and critical business data difficult to find.

By selecting a robust and powerful Enterprise Resource Planning (ERP) system for your Distribution Company, such as Microsoft Dynamics NAV, you will recognize 4 primary benefits in Financial Management:

1.  More Features: Microsoft Dynamics NAV has thousands of more features than typical enter-level accounting systems including: Analytical Accounting, Fixed Assets, Bank Reconciliations, Detailed Audit Trails, Multi-Currencies, Multi-Locations, Multi-Language, Multi-Companies, Flexible Accounting Periods, XBRL Support (Extensible Business Reporting Language), Recurring Journals, Payables Management, Vendor Account Management, and much more!

2.  Better Financial Reporting: The whole point of an Accounting System for Distribution is financial reporting.  Compared to entry-level systems, Microsoft Dynamics NAV offers hundreds of more reports that you can view in real-time through an integrated intranet business portal.   Microsoft Dynamics NAV provides a wealth of financial reporting tools such as giving you flexible options for setting up a company and posting for charts of accounts, general journal, value-added tax (VAT) facilities, recurring journals and source codes.

3.  Seamless Microsoft Integration: Better and more powerful Microsoft Office Integration can help growing businesses with their business reporting.  For example, by exporting data quickly into Excel, you can have a better view of business information for better company decisions. Also, Microsoft Dynamics NAV has a robust and “reporting-rich” SQL Database which enables “SQL Reporting Services”-a respected industry standard for reporting.

4. Better Compliance: Even when your Distribution Company isn’t directly affected by mandated regulations, you may be required to document compliance when doing business with companies, or in the markets, that are subject to regulations.  Microsoft Dynamics NAV helps support such regulations as Sarbanes-Oxley, Basel II Compliance and others.

Next Steps:  Contact iCepts Technology Group to  learn more and get better Financial Management for your Wholessale Distribution Company

Submitted by iCepts Technology Group-A Microsoft Dynamics NAV Partner in Pennsylvania

 

 

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