Microsoft Dynamics for the Financial Professionals
JourneyTEAM understands that financial management is central to any company’s business success. The finance department develops and implements the financial plans that help the company realize its objectives. By constantly monitoring the company’s financial vital signs, the finance department tracks how the business performs against financial goals and keeps other business units up-to-date.
The accuracy, timeliness, and security of business information are of the greatest importance to the finance department. To deal with these challenges, financial managers rely on financial management software to help eliminate human error, speed up business processes with automation, support regulatory compliance, and improve analysis and financial forecasting.
The Chief Financial Officer (CFO)
As the one responsible for a company’s financial plans, CFOs need to know at any time where the company is and where they are going. The Chief Executive Officer (CEO) and business unit heads depend on the CFO to be aware of all financial events and conditions that might affect business. In turn, the controller, accounting manager, and operations manager report to the CFO with the information needed to derive business insight.
The most important capabilities of Microsoft Dynamics business management solution for CFOs are tools that simplify data analysis and reporting, such as Web-based dashboards that present key performance indicators. With timely and accurate data, less time is spent on information gathering and more time is available to help the company grow into new opportunities. It’s also up the CFO to ensure that their company complies with regulatory reporting and data security regulations. Microsoft Dynamics helps implement and document consistent compliance processes, which can reduce the cost of compliance while simplifying compliance procedures.
The controller oversees the financial processes of a company. The CEO and CFO rely on an efficient controller to understand the financial details of the company and to research the effect specific business decisions will have on the company’s bottom line. The controller has to understand the company’s strengths and weaknesses from a financial standpoint.
Microsoft Dynamics allows the controller to quickly access up-to-date and accurate information in the system, generate reports as needed, and train staff on a solution that is familiar and works like other Microsoft software. The Controller plays a key role in selecting business technology and appreciates that Microsoft Dynamics business management solutions offer well-designed and flexible financial management capabilities.
Microsoft Dynamics allows you to take control of your company’s finances and manage in ways that lead to the best business results. Most finance managers, whether you are a Chief Financial Officer (CFO), Controller, Accountant, or Bookkeeper, have to manage budget processes, make sure of regulatory compliance, and create, access, and distribute financial reports.
Manage an efficient budget process. Agile budgeting and planning tools are needed to keep up with changing business conditions. Microsoft Dynamics offers integrated business management solutions that feed the most current data into the budgeting process, leading to more accurate assumptions about market conditions. In addition, financial managers can use Microsoft Dynamics to explore “what-if” scenarios that help them make wise budgeting decisions. Additionally, Microsoft Forecaster, a Web-based budgeting and planning solution, integrates directly with Microsoft Dynamics general ledger capabilities, to further simplify and accelerate the budgeting and planning process.
Ensure compliance with regulations. Regulatory compliance is a significant concern for almost all companies, especially publicly traded companies and those who do business with them. Microsoft Dynamics is an integrated business management solution that provides a solid foundation for reporting and process automation, both of which are key to managing compliance. Utilize Microsoft Dynamics to help reduce errors and establish easy-to-follow audit trails.
Access financial reports. CFOs and other executives rely on accurate and timely data in order to make well-informed business decisions. Microsoft Dynamics business management solutions gather information from throughout the organization, store it in a single repository, and deliver it in a variety of customized reports. Microsoft Dynamics provides business intelligence, reporting, and analytics functions, and it integrates smoothly with other Microsoft business intelligence platform applications. This integration improves the reporting process, which in turn improves financial management, such as Microsoft FRx financial reporting and analysis software.
For more information on Microsoft Dynamics solutions for financial professionals please contact JourneyTEAM.