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Microsoft Dynamics vendors provide comparisons and opinions to professionals in the ERP/Accounting software selection process

 
 

Solver Global

Financial Reporting for Dynamics NAV


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The current era of big data – and analysis of that data – basically requires a powerful reporting tool to manage and analyze all of that exponentially growing company information for making informed decisions to push the company forward into a continued competitive and mature space.  This article will discuss the diverse choices, features and functionalities, so you can invest in the right financial report writer to meet your organization’s specific goals and needs with the trusted Microsoft Dynamics NAV as your accounting system.

 

Report writers generate customized reports that grab data from sources that manage company transactions, sometimes directly from Microsoft Dynamics in real-time or a Customer Relationship Management (CRM) application, or from an online analytical processing (OLAP) cube or a fully built data warehouse.  Dynamics NAV’s native report designer, also known as Report Writer, is simply not as powerful or intuitive as modern third party offerings, which are gaining in popularity for those reasons.  These Independent Software Vendor (ISV) solutions allow financial professionals to build and reuse customized templates that report on the overall health of an organization for executives’ decision-making power.  Sometimes, it seems that a large population of NAV customers automatically move toward the Microsoft Business Intelligence (BI) stack or even Jet Reports when abandoning the built-in Report Writer, but this is too big of a decision to invest in any solution without doing your research on several different aspects and the current market offerings.  You will want to think about data source access options, Excel or web-powered platforms versus proprietary software, and the ease of use, among other facets.

Tablet White Reporting

How you integrate data should be a primary element to think about when deciding to invest in a financial reporting tool.  You need to assess whether pulling data live from Dynamics NAV or integrating from a data warehouse, an OLAP cube, or another proprietary staging space is more helpful in meeting your particular company demands and goals.  A live integration means real-time reporting on data right from Dynamics NAV.  More specifically, it translates to you not having to ensure that company information is already replicated to a database from NAV before you achieve an up-to-date analysis of your data.

 

You will have to invest in a data storage solution if you go that route, whether it is developing and managing an OLAP cube or buying a fully built, configurable data warehouse. But, depending on the number of users who need to run live queries in Dynamics NAV and how big the data queries tend to be, live integrations can slow down the server for everyone.

 

Both Jet Reports and Solver’s BI360 are offering live integrations to NAV and other accounting systems, whereas most third party reporting tools only offer to generate reports by grabbing data from static data sources.  But don’t just focus on integrations because you should also be weighing the platform options for your reporting solution.

 

To continue learning more about the best report writers for Microsoft Dynamics NAV, read the rest of this article here.

by Solver, Inc.

 

 

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