When did you last perform an Annual Review on your ERP system?

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Your motor vehicle gets an annual service, but do you service the ERP ‘vehicle’ that runs your organization?

 

You never hesitate to take your motor vehicle in for a service. Why? The reasons are obvious: the safety of your family and efficient running to reduce overall maintenance costs.

So, why wouldn't you do the same for the ‘vehicle’ that your company uses every day to run the business? Reducing risk, decreasing costs, and increasing revenue are just some of the business outcomes you should expect when you commit to performing an annual review of your ERP solution.

What is the primary driver for performing these regular reviews?

 

Change.

 

Do you have the tools to update your ERP system?
Review your ERP solution to reduce risk, decrease costs, and increase revenue.

Your business is continually changing and technology is constantly evolving.

In today’s digital world, technological advancements, combined with external market forces, are creating a flow of near constant change within your organization. You need to be agile and adapt to these market changes.

Perhaps you acquired a new business unit or had a change in your sales model. All these scenarios will require a review of how you are using your ERP platform today and a plan for what changes need to be made to ensure you can continue to be competitive in the future.

 

Technology has outpaced the evolution of business processes.

 

 For the first time in decades, technology has outpaced the evolution of business processes. Increasing volumes of data, advancements in data analytics and intelligence, and the ubiquity of cloud computing have shifted what customers expect as the result of being armed with information in a way not previously possible.

Western Computer proactively advises clients on new capabilities being added to software. Consideration should be given to upgrading as new capabilities can drive incremental efficiencies across your business. For example, implementing automated bank statements has helped several of Western Computer’s clients to automate much of their month-end reconciliation processes, enabling finance staff to focus on value-added month-end processes.

In addition to taking advantage of the new capability being added the product, consideration should also be given to retiring legacy modifications. For example, organizations requiring an annual subscription model would have required a Deferred Revenue modification built for their system to ensure that they had the ability to recognize the revenue over 12 months. With the latest version of Microsoft Dynamics NAV, this capability is standard in the Finance module and does not require any modifications to the core application.

Cash flow is a huge challenge for most organizations. Automated bank drafts for accounts receivable, available in Dynamics NAV, will have a positive impact on cash flow. Cash is automatically bank draft into your bank account and there is no longer a requirement to wait for weeks for a check to be issued and processed.

In summary, if you perform an annual review of your ERP system, the following business benefits are the minimum of what you can expect to achieve;

  1. Improved business process flows.
  2. Collaboration across business and data.

Western Computer is uniquely positioned in offering these annual reviews to their clients and has a number of best practice recommendations.

Contact our team of Microsoft Dynamics experts at Western Computer if you need help with your next Annual Review.

 

By Western Computer

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