In a LinkedIn group recently, a member asked fellow users of Microsoft Dynamics GP for some sort of documentation with an explanation for why GP needs and benefits from third party products. It is a fascinating and , potentially a challenge to Independent Software Vendors (ISVs), and a bona fide query for Dynamics loyalists. Other users gave their two cents, and a few themes naturally came out of the conversation.
Firstly, some posited that a software producer, even Microsoft, cannot manufacture a solution that responds to each individual organization’s demands. Similar to Apple products allowing operators to install Google Maps as an application, despite the fact that Apple offers its own map app, so do ERP systems like Dynamics GP, and this flexibility is a necessity for modern businesses. As any corporation who implements Dynamics GP has specific needs, goals, regulatory stipulations, and unique budgeting requisites, features and functionalities will vary in their value from company to company. Third party offerings empower organizations to individualize their corporate performance management to best meet their needs.
Another theme that surfaced in the LinkedIn conversation focused on the term, “best of breed.” best-of-breed as “the best product of its type.” Creating the best product of anything is not possible, in terms of all the functionalities that a manufacturer would have to cover, so “organizations often purchase software from different vendors in order to obtain the best-of-breed functionality for certain key business areas.” So, even if you are the most loyal Microsoft Dynamics customer, you are likely to benefit from investing in a third party product to enhance GP for your company’s specific needs. However, at this juncture, you’re probably wondering what is on the market today that could help you and your colleagues?
Depending on your level of consumer loyalty, you could have very little exposure to what ISVs are offering for analysis, consolidations, dashboards, budgeting, and data storage that will move your Business Intelligence (BI) efforts into the ultra-modern, intuitive, and dynamic chapter of software. And that’s what this blog is about: understanding what solution(s) is going to lead you into the feature more successfully. This article will focus on answering the LinkedIn question not only with explanations, but product proof that your company would benefit from augmenting Dynamics GP.
Image taken from Shutterstock.
Historically, the most prominent functionality that ISVs have offered has been financial reporting. Even though I have written about before, their importance will not be decreasing in the near future. In contrast with the powerful reporting products on the market today, Dynamics GP’s native Report Writer does not offer very much beyond the General Ledger. Nowadays, there is software providing users sub-ledger reporting, reusable report templates, and accounting logic with live integrations not just to Dynamics GP, but also other data sources for business user friendly, all-inclusive analytics. Some are web-hosted, some are Excel-powered, and some offer both capabilities – for increased accessibility. Taking accessibility to the next level, a few third party products have reporting mobile applications. Additionally, planning and forecasting has become a popular solution that budget managers are using to craft a best-of-breed solution to check off all performance management aims.
To continue learning more about what can turn Dynamics GP into a best-of-breed product for your company, read the rest of this article .
by Solver, Inc.
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