One of the most stressful positions in any organisation is that of the financial director. In this role, you are responsible for all financial aspects of company strategy and are expected to analyse figures and implement recommendations based on these findings with the most profitable outcomes.
The truth is that you can’t do these things successfully with incoherent data and substandard software systems. In this two-part post, we will look at six ways an Enterprise Resource Planning (ERP) solution like Microsoft Dynamics NAV can help finance directors.
Consolidate business systems
Technology may have advanced and times may have changed but many businesses are still using multiple systems to manage finance, sales, production and projects. Using multiple systems can make it hard for your employees to keep track of everything, leaving you with gaps in your data or duplication. By consolidating your business software with an ERP solution like Microsoft Dynamic NAV you can eliminate duplicate systems, save money and trust that you are working with accurate records.
Microsoft Dynamics 365 is Microsoft’s new approach to end-to-end intelligent business applications in the cloud. Dynamics 365 unifies ERP and CRM into one cloud service with new purpose-built apps to manage all your core business functions, including Sales, Customer Service, Finance, Field Service, Operations, Marketing and Project Service Automation.
Put your data to work
What good is having all that data if you don’t put it to work for you. With Microsoft Dynamics NAV you can use your data to maximise opportunities, grow your customer base and increase revenue. The solution allows you to identify future sales opportunities, increase customer satisfaction, and improve customer service which all results in potential repeat business.
Increased productivity equals increased profits which is the goal of every financial director. Implementing an ERP system can help you attain this goal by creating an environment for you to define your business processes and determine your optimum production output. With a flexible solution to production processes further down the line to increase productivity even more.
Don’t miss part two of our post where we look at three more ways and ERP solution can help finance directors.