It seems like every enterprise resource planning (ERP) vendor aims to provide its own . However, many customers have been disappointed. So why is it so hard for an ERP vendor to deliver the necessary inside the ERP system itself?
Here are some reasons why financial consolidation ERPs have its limitations:
- The inability to handle various chart of accounts
- The inability of consolidating across subsidiaries with various fiscal calendars
- Weak currency conversion functionality
- Weak auto-elimination functionality
- Weak financial reporting to produce the consolidated reports
- Lack of dynamic pro-forma consolidations
It would be a controller’s dream if the ERP system were able to perform the list above successfully.
Microsoft Dynamics 365 ERP
But what about the (D365 FO) ERP system?
While it clearly can be considered one of the top cloud solutions on the market today- alongside , and - customers with great consolidations and financial reporting needs, often end up in Excel.
While there are many ERP consolidation features in D365 FO, it is not uncommon that customers add on a “best-of-breed” to streamline their financial consolidation and reporting software.
Modern cloud-based CPM solutions
is an example of a CPM solution that comes with several added advantages for Microsoft customers. Some benefits include
- Solution is cloud-based Azure like D365 FO
- Its configurable to D365’s general ledger as well as sub-ledgers
- It has a pre-built connector to for visualization
- Excel add-in for flexibility and familiarity
If you want to read more about financial consolidations for Dynamics 365 Finance and Operations and learn more about the benefits of Solver CPM for financial consolidation, .
