Financial Management

In an ever more competitive business world, small and mid-size organisations need financial management solutions that can be expanded beyond core functionality and integrated with other applications and data stores. This not only gives executives and other users an optimal platform for operating their business, but also provides deep insight into the business to help guide operations and strategic initiatives through rich reports and analytics.

Microsoft Dynamics NAV is an integrated business management solution that provides financial management, customer relationship management (CRM), and supply chain management (SCM) functionality. It has a modular design so people can easily use the functionality required to meet the evolving needs of their business. This integrated design means that business processes and information are shared across applications. Data is gathered in a central database that can be reported against, and used by analytical tools to generate business intelligence.

Microsoft Dynamics NAV provides a complete financial management solution, making it easy to connect financial transactions and information smoothly across affiliate companies and multi-site and international deployments while providing the audit trails and other security measures required by mandates such as Sarbanes-Oxley, Basel II, the U.S. Health Insurance Portability and Accountability Act (HIPAA), International Financial Reporting Standards (IFRS) and local Generally Accepted Accounting Principles (GAAPs). As organisations grow, as the marketplace becomes more competitive, and as regulations become more complex, the modular design of Microsoft Dynamics NAV enables you to extend functionality by adding in the solutions you need to manage financial data and generate the analytics and business intelligence that can help your company grow into the future.

The Need for an Integrated Solution

Organisations typically generate a lot of disparate information, but often do not have a clear view into the business. Integrating functionality and data sources that traditionally have been stored in separate applications and databases is essential for organisations that want clear insight into data from across the business.

Financial management solutions need to integrate processes and data to help break down the artificial barriers of information silos, and information entered into one application must be simultaneously available for use in other applications. Integration can also better connect everyone in the organisation with customers, suppliers, and trading partners—including across the Internet and from intranet collaboration portals.

Integrating data across applications can boost productivity by freeing users from the burden of having to pull information from separate sources, and enhances financial management by unlocking data for what is rapidly becoming one of the most important areas of financial management—business intelligence. Business intelligence, in concert with other reporting and analytic solutions, helps inform and speed up decision-making. It enables an organisation to respond more quickly to new competitive challenges and proactively take advantage of new market opportunities.

The Microsoft Dynamics NAV financial management software solution integrates with popular productivity applications such as Microsoft Office Excel, Microsoft Office Word, Microsoft Office Outlook for customer relationship management, and Microsoft Office SharePoint Server 2007 for collaboration portals.

Contact K3 Business Solutions on: 0844 225 2480 or Email: SimplyDynamicsERP@k3btg.com