Microsoft Dynamics 365 Business Edition is not a replacement for Dynamics SL, especially if you are a government contractor. With its powerful project accounting and government compliance capabilities, Dynamics SL is still the most powerful out-of-the-box Microsoft solution for project-based companies. Yet smaller companies, or ones that do not have complex project accounting, will find Dynamics 365 coupled with Progressus Project Accounting to be a powerful cloud-based alternative.
Cloud-based Microsoft Dynamics 365 Business Edition is a multi-currency business management solution that helps small-to-medium companies manage their accounting, finances, sales, and operations. With native integration with Office 365, it delivers a powerful integrated experience with the Microsoft software you already have. Moreover, for project-based companies, Dynamics 365 provides a platform for Progressus Project Accounting, a seamless integrated enhancement that enables effective and easy project setup, budgeting, tracking, time and expense, analytics, forecasting, and resource management.
Synergy has put together a tour of Microsoft Dynamics 365 (9 mini demos) for your convenience in each major area, as well as one demo of Progressus‘ professional services automation and project accounting. Demos include:
Financial Management – Bookkeeper and Accountants’ Roles
Project Management – Project Manager Role and Managing Jobs
Project Accounting – Budgets, Tracking, T&E, Analytics, and Resource Management
Purchasing – Procure to Pay
Inventory – Manage Your Inventory
Sales – Sales Management and Quote to Invoice
Executive Oversight – Business Health, Trends, and Opportunities
Sign up for the tour and see for yourself how Dynamics 365, with or without the advanced project accounting enhancement, might fit for your company.
With Progressus Software, there is now a powerful Microsoft cloud solution for small-to-mid size professional services and project-based businesses. Designed to leverage Microsoft Dynamics 365 and Microsoft Dynamics NAV, Progressus is a multi-language, multi-currency business management solution that empowers companies to more effectively manage their operations.
Progressus adds advanced project accounting and project management to the powerful financial management and basic project management functionality of Microsoft Dynamics 365/NAV to provide the most advanced business management solution for professional services and project-based businesses. It offers unique and powerful functionality in these areas:
Quick Project Setup
Project Resource Management
Project Monitoring and Analyzing
Project Cost Tracking
Remote Project Time & Expense Entry & Approval
Project Reporting, Analytics & Forecasting
Progressus is deployed on the Microsoft Cloud and customers can access their solution through role-based interfaces on their desktop, in a browser, or with a native mobile app on a tablet or mobile device. As a Dynamics 365-based solution, Progressus is rapidly deployed with minimal configuration. It also features native connectivity to Dynamics 365 Sales and Marketing and Microsoft PowerBI, for an even more comprehensive business solution.
Whether Progressus is installed with Dynamics 365 Business Edition or Dynamics NAV, it provides native integration with Microsoft Office 365. When your email, calendar, and files seamlessly come together with your data, reports and business processes you get an integrated experience that no other stand-alone project management or enterprise resource planning (ERP) solution can match.
Made available on November 1, 2016, Dynamics 365 is Microsoft’s next generation of business intelligence applications in the cloud. It’s a cloud-based financial management solution that is highly integrated with Microsoft CRM and Office 365 with powerful capabilities for sales and operations. Companies on Dynamics SL may be asking, “What impact does this have for Dynamics SL users?” Companies searching for a new system, should ask, “How do we know if we should consider Dynamics 365?”
First, “What impact does this have for Dynamics SL?” None! Dynamics SL continues to be Microsoft’s top solution for project-based organizations with its powerful flexibility and phenomenal project accounting capabilities, including easily handling DCAA compliance for government contractors. Microsoft will continue to release new enhancements and fixes to Dynamics SL. As stated in the product roadmap, Dynamics SL has a planned development timeline as does all of Microsoft’s on-premise product lines. A Cumulative Update (CU2) for Dynamics SL is planned for December 2016 and a new major release is planned for 2018.
Second, for companies evaluating a system upgrade, “How do you know if you should consider Dynamics 365?” The short answer is this: At this time, Dynamics 365 is not a good fit for companies that either are government contractors or that have complex project accounting. However, for small-to-medium businesses (SMBs) without those characteristics, the Business Edition of Dynamics 365 could be a great option (The Enterprise edition of Dynamics 365 is designed for large, enterprise level companies). Those SMB companies should consider Dynamics 365 if they desire the benefits of the cloud and if their core need is merely more robust financials that integrate with sales and operations. Moreover, Dynamics 365 Business Edition does have some light project functionality. It could be an option for those who only need a single level task structure with no allocation capabilities.
Will Dynamics 365 ever be a good fit for project-based companies and government contractors? Microsoft and a 3rd party vendor named Progressus is working on developing Dynamics 365 to ultimately compete with the powerful flexibility and functionality of Dynamics SL. It is unknown when that time will come. When it does, Synergy Business Solutions will help companies evaluate whether a cloud or on-premise solution is the right fit for their project-centric organization.
Entry-level accounting solutions like QuickBooks become very inefficient the larger your company grows. They have many hidden costs represented by a lack of automation, manual processes, reliance on spreadsheets, and little or no business insight, all resulting in poor productivity. When you switch to a modern, cloud-based or on-premise ERP system (such as Microsoft Dynamics SL or Dynamics 365), you leave those hidden costs behind while gaining new hidden savings. This is why calculating your return on investment (ROI) is so important when evaluating changing to a modern ERP solution. Learn how it works in this short video:
Why Your ROI Matters When Replacing QuickBooks with Cloud ERP
The role of finance departments, especially in small-to-mid-size companies, is dramatically changing. Traditionally theirs was a secondary role. They were locked into the tasks of keeping the books, paying the bills, and delivering historical financial information to executives. Moreover, they were bound by the constraints of using burdensome, non-integrated financial systems.
Today, because of the advent of fully integrated systems (some of them cloud-based and some of them on-premise) and their ability to access data from any web-enabled device, even smaller finance departments can stop spending most of their time on such tasks. Based on the unparalleled insights that come from having seamless integration, they can spend more time giving financial-management advice and identifying business opportunities. A CFO can become a strategic corporate asset to the company.
You need to find the right accounting / ERP solution for your business. Perhaps you are straining the limits of QuickBooks or another entry-level software. Maybe you are experiencing “spreadsheet hell” with a myriad of Excel documents and tabs within them.
As you start down a road to a solution that will take your company to the next level, bear in mind these 4 simple ways we at Synergy are committed to helping you, whether or not you select one of the products we implement and support or not.