Category Archives: Dynamics 365

Microsoft Dynamics 365, Dynamics SL, and Your Business

Dynamics 365 and Dynamics SL

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.

From QuickBooks to a Modern ERP System? Why ROI Matters

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


How to Become a Strategic CFO

CFO
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.

To learn the specifics of how, see the Accounting Web article, How Chief Financial Officers Can Become Major Corporate Players. It identifies advantages of modern ERP systems like Dynamics SL or Dynamics 365 to free up CFOs.

4 Things You Need to Select the Right Accounting System

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.