Knowing where your cash is going is a basic of any good business. Microsoft Dynamics NAV can help you do that automatically by looking through various parts of your information in order to give you the whole picture. We want to discuss how this works with you today.
So why do you need this? It can tell you how much money is going out and coming in. It can help you find out if there is some illegitimate money being passed around. It also helps you calculate your liquidity.
Microsoft Dynamics NAV can create and examine multiple forecasts at once. This helps you give a better idea of how things are going to go. This is essential for any company with various branches and multiple projects that go on at once.
As with any other system you need to make sure that accurate information is being fed in. If it is not then you will get a highly inaccurate forecast. Accurate information is always vital in any project like this. It’s an important part of ERP for services companies.
The information fed into this comes from your cash, bank accounts and various budgets that your company takes in. You can make the search as wide or as narrow as you want in this system.
You can also change the records on the fly if something is inaccurate. This will change all the ones that rely on the data as well. This can save you a huge amount of time when someone inevitably puts in the wrong information at some point.
Everything can be controlled and changed down to the smallest details. This includes small things like discounts to preferred customers that you doubtless have for those of them that get incredible amounts.
When all this information goes in and is examined you can print out reports. Your Microsoft Dynamics NAV can look at each one and point out areas of interest for you. What are the areas of interest? Simply where you are gaining and losing money over time. This helps you cut out waste and increase the focus on the most profitable sectors. As anyone who has run a successful business knows there are some customers who are excellent and others that are terrible. Build your business on the good ones.
You can even change how the system calculates your forecast by changing individual tables. This allows you to customize every single detail of the system. Find a setup that works for you.
All of this comes down to a solution that is individualized for your particular company. It’s not a blanked solution for all companies of your type. You get to see where each dollar is going through your Microsoft Dynamics NAV.
This system is however a big investment with huge power. Only get it if you are dealing with thousands or even millions of dollars in transactions. This is for the industry heavy-hitters that need to know where their company is going at every possible second. Only you know whether your company is one of these.