Is your Finance System Ready for Life after COVID-19?
Many organisations have had to quickly adapt over the past few months to support employees working remotely – making them realise their finance systems are unable to support long term, flexible remote working.
Organisations of all shapes and sizes are realising the benefits of working remotely; from better employee engagement, increased work productivity and reduced costs.
With this, more organisations are turning their attention to their technology system to provide the right platform to enable this new way of working.
With many finance management teams currently rely on outdated systems and manual processes. Now is a great opportunity to consider switching to a cloud-based finance system, like Microsoft Dynamics 365 Business Central.
5 ways Business Central can Benefit your Organisation
1. Automated Cashflow
Business Central cash flow forecast allows you to generate predictions of your current cash flow by pulling data from all areas of the system including:
- G/L Budgets
- Jobs and fixed assets
This provides a more complete and up-to-date view of your cash flow forecasts. You can also harness the power of AI in Business Central to review documents and factor in future due dates in the forecast.
As Business Central is an integrated cloud accounting software, all data is held centrally allowing users to easily submit updates remotely.
2. Real-time Reporting
To optimise your organisation’s performance during uncertain times, it’s fundamental to have easy access to real-time, in-depth reporting that enables you to make quick and informed decisions.
Too frequently, key stakeholders rely on manual reporting which is slow, prone to errors and often outdated by the time it’s received.
Business Central has over 600 pre-built report templates available that integrate seamlessly with PowerBI for greater visual analysis.
If your organisation has multiple entities, you’ll know the value of consolidating your accounts accurately and efficiently.
With turbulent times likely to continue, it could be the right moment to update your finance management system to more easily handle multiple consolidations or even multi-currency translations.
4. Flexible Licensing
With Business Central being a cloud solution, licences are paid on a monthly rolling subscription basis, making the cost much lower compared with traditional on-premise solutions.
With cloud software, you only pay for licences you use, giving you much greater flexibility.
5. Automatic Updates
As part of your monthly subscription, enhancements and updates are included throughout the year, with 2 major releases in spring and autumn.
With these benefits included in the cost of your license the need for further costs and time consuming ‘big-bang’ upgrades are eliminated.
Wondering how to Update your Finance System? As Microsoft Gold Partners, Total Enterprise Solutions have a plethora of experience and knowledge in migrating organisations to cloud based account software and supply all the necessary training and support – even after your go-live date.
Prepare yourself for the uncertain and empower your finance management team with an efficient and flexible cloud-based finance solution. To contact TES, fill in our form at the bottom of the page and one of our experts will be in touch.