Financial Reporting Options for Microsoft Dynamics NAV

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The business world has definitely landed on a new normal that has to do with being consumer-driven and increasingly more global in nature.  Because of this cultural shift, flexibility and mobility becomes nearly essential.  More specifically, flexibility and mobility refers to how you access your company data on the go to make better decisions faster to grow the brand and company into a more successful place.  Alongside Microsoft’s offerings, third party BI manufacturers are competing to offer Dynamics NAV users with the most powerful, modern reporting solutions that respond to the common need for flexible access to company data.  The independent software vendor (ISV) marketplace is especially attuned to hearing customer demands and responding by packaging modern features and functionalities into financial reporting tools.

Mobile NAV
Photo taken from Shutterstock.

Third party products are enhancing data management and analysis process beyond Dynamics NAV by allowing you to personalize and build your own best-of-breed financial report writer.  When it comes to flexibility and mobility, the best ISV solutions give you options.  For most professionals, there are plenty of occasions when you are in line at the airport, waiting to meet a client in the lobby of the conference hotel, or working from home, and you would like to check in on the real-time health of your company.  There are plenty of organizations who are still trying to work with older on-premises, client-server BI tools, meaning you have to be in the office or rely on a potentially slow remote connection.  In today’s business culture, this is just not adequate or realistic for corporate decision-making.  But then, what is?

Shopping for a new financial reporting solution to work with Microsoft Dynamics NAV can be a real pain when you add up all of the time, energy, and costs of research, webinars, etc.  For most customers we talk to about finding the right BI product for their team, the task seems like a chore rather than another item on the to-do list, and it can be tedious, considering that is not a routine part of your role.  Despite all of that, picking the right tool for your current and future financial reporting needs is so important, especially in terms of flexibility, power, and ease of use.  You will want to make sure to consider the following list of elements when shopping for the best tool for your team:

- the ability to generate real-time analyses directly from Dynamics NAV and/or pulling data from a data store, like an OLAP cube or a data warehouse

- the flexible and familiar power of an Excel add-in solution that offers reporting beyond the GL

- the convenience of a BI web portal that also allows you to format and function with Excel formulas

- the option to access your company’s financials, operational reports, and KPIs through a mobile application on your smartphone or tablet

- the power of positioning as part of a complete, fully integrated suite of BI tools that streamline data analysis procedures

To continue learning more about your options for financial reporting with Microsoft Dynamics NAV, read the rest of this article here.

by Solver, Inc

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