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.
Communication is essential for the successful operation of a business. An ERP solution like Microsoft Dynamics NAV will automate your business processes and give all key stakeholders a breakdown of the information they need to perform their tasks and reduce the possibility of errors which is essential in reporting.
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.
Improved supply chain management
The benefits of automating your supply chain are endless. An ERP solution can speed up the process of buying and selling products whilst making it more efficient and less costly. These factors are good news to a finance director, who has been tasked with monitoring the financial health of a division or organisation.
Improved financial management and overall efficiency
By adopting an ERP solution you’ll be able to reduce project lifecycles, reduce production time, and streamline the workflow from order to delivery because you will be armed with the visibility, accuracy and insight that Microsoft Dynamics NAV’s flexible financial management tools provide.