Category Archives: Government Compliance

When You Need to be Wary of the Hype Around the Cloud


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It’s true that cloud-based ERP systems have major advantages. They can get you out of the IT business. Especially for start-ups, paying for a system with the software-as-a-service (SAAS) model can be cost effective when you compare it to paying salaries for an in-house IT Team and costs for hardware, servers, utilities, and backups. Moreover, a true Cloud system (multi-tenant and not hosted) makes upgrades minimally disruptive and basically routine as they take place in the background with no direct costs like the traditional upgrade model.
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When to Be Wary
On the other hand, oftentimes, true Cloud products haven’t grown up yet. They deliver fundamental functionality and some bright-and-shiny modern features, but still can’t compete with some tried-and-true on-premise solutions, which are actually just as “modern” or even more so.

One area where this is especially true is in project accounting, job costing, and government compliance. Cloud products tend to lack the depth of capability required for these functions. Seldom can Cloud solutions effectively deliver sophisticated allocations, complex job cost accounting (e.g. costing on the task level, etc.), truly flexible reporting, and indirect rate management for Cost Reimbursement government contracts.
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What Really Counts
The desire for a “modern solution” can blind people to recognizing a system that efficiently performs the critical functions they need. The answer is to realize, whereas there are compelling reasons to consider a cloud-based system, at the end of the day what counts is implementing a solution that truly streamlines your business.

Microsoft Dynamics 365 and other cloud-based products are still relatively new to the market. Or, they are in a suite of products that may not have flexibility to integrate with critical third-party enhancements. If your core business is project-based—professional services, research, engineering, construction, make-to-order manufacturing, etc.—or you are in the federal/state government market, consider this: We have seen traditional on-premise systems like Microsoft Dynamics SL blow the emerging cloud or suite products out of the water… or should I say, out of the sky!
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The Best of Both Worlds
What’s more, if it’s the IT business you want to get out of, an on-premise system like Dynamics SL can be hosted in the Cloud to ensure you gain the essential Cloud advantages.

At Synergy Business Solutions, we help companies make the ERP system comparisons necessary to make the right choice. As a reseller of both on-premise (Dynamics SL and Dynamics NAV) and cloud (Dynamics 365) solutions, we are happy to assist you in your evaluation process. There is a time to be wary of the Cloud option and we help you discern when that time is and why long-standing modern on-premise systems often give you what you really need with or without hosting cloud technology.

Government Contractor Solves Their Top 3 Accounting-System Challenges

When NuScale Power realized their future meant getting into the federal market, they knew their existing accounting system (QuickBooks) was extremely problematic when it came to government compliance. In this interview, Controller Julie Adelman explains their top three accounting-system anxieties and how Dynamics SL easily solved them.

How to Eliminate Government Compliance Accounting-system Anxieties


Synergy Part of Microsoft’s New GovCon Alliance; Crafting Forward-looking Solutions for Government Contractors

Alliance to serve government contractors

On June 16, 2014, Microsoft announced the formation of a special GovCon Alliance, a cross-section of Microsoft Dynamics partners with deep experience and understanding of the unique needs of government contractors. With our expertise in solving government-compliance issues with Dynamics SL for midsize companies (from 50 to 2,000 employees), Microsoft invited Synergy Business Solutions to join the Alliance.

The effort is part of a new phase in ours and other Dynamics partners’ ongoing effort to help contractors to the U.S. federal government operate more efficiently, respond more quickly to shifts in federal spending, and comply with a range of regulatory requirements, including those established by FAR, CAS, DCAA, and DCMA, as well as various other audits.

Synergy joins with Microsoft pursuing the guiding principle of this new phase: Compliance and Agility. You no longer have to choose one or the other. For example, Synergy’s solution, Dynamics SL, clearly boosts a project-based company’s or a make-to-order manufacturer’s business agility through its powerful project management and accounting modules. And for government contractors, it goes one large leap further. It easily handles indirect cost pools and rules-based allocations to projects and cost objectives. Or, as we like to say, it’s “Compliance Made Easier.”

To see specifics on what Synergy Business Solutions adds to this powerful Alliance, visit our Government Contractor Solutions pages, which are chock-full of resources, including an on-demand webinar, white paper, and colorful infographic.

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Two government compliance experts–one with expertise in software (our own Steve Toth) and one with expertise in compliance processes–sat down to share what government contractors need to know to stay compliant with federal contract regulations. Watch the webinar and learn:

  • The importance of an adequate or approved accounting system and who is subject to its requirements.
  • What a pre-award accounting system audit is (Form 1408), why it sometimes occurs after you begin a contract, and how an “Accounting Plan” prepares you for it.
  • What the detailed requirements of the pre-award accounting system audit are and how Dynamics SL handles each one.
  • The major capabilities your system needs to capture costs (direct, indirect), record time and labor, reconcile invoicing, and fully comply with FAR, CAS, and DCAA requirements.

 
Sign up to receive the webinar recording

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If you are currently a government contractor or aspire to be, you’ll want to see this easy-to-read, colorful infographic that spells out four basic keys to success in the federal market. Whether you are under DCAA or another government entity, the four keys have to do with the Rules, Tools, Controls, and Schools necessary to remain compliant with federal regulations in both one’s accounting system and cost-accounting processes.

Understand what’s required in a pre-award system review (Form 1408) and what the FAR and CAS requirements are and who is subject to them. Learn why the right software tools are so important, such as Microsoft Dynamics SL, what processes and procedures are necessary (controls), and how to get your finance department properly trained (schools). To learn more, there’s also a white paper offer that digs deeper into the topic.

Infographic: 4 Keys to Success in the Federal Market

CONVERGENCE 2014 | MARCH 4-7, 2014 | ATLANTA, GA | WORLD CONFERENCE CENTER

Steve Toth, Synergy Business Solutions, Kirill Tartarinov, Arianna Huffington, and Biz Stone at Microsoft Convergence 2014.

Convergence 2014 is the premier event bringing the entire Microsoft business community to life. It is where opportunity and innovation meet to deliver real business value and truly amazing customer experiences. It’s the chance to make key business connections and to discover the full potential of Microsoft Dynamics solutions.

Steve Toth, President of Synergy Business Solutions, is speaking at two sessions on Microsoft Dynamics SL, one on how Dynamics SL empowers users to easily handle federal government compliance and another on the power of budgeting in Dynamics SL.

Session 1 – Smooth Budgeter: An Introduction to Microsoft Dynamics SL Project Budgeting
Wednesday, March 5, 11 AM – 12 PM, Room A311
Audience: End User and Power User | Speaker: Steve Toth

Find out what’s possible with various types of project budgeting in Project Controller for Microsoft Dynamics SL. Understand options for direct budgeting versus budgeting by revisions and how the Project Budgeting module processes budget revisions of original budget, estimated budget, and forecasted budget at completion.

Session 2 – Something to Talk About: Microsoft Dynamics SL Government Contracting
Thursday, March 6, 11 AM – 12 PM, Room A304
Audience: End User and Power User | Speakers: Steve Toth and Larry Mocniak

Do you use the Project module for government contracting? In this session, we will discuss how to utilize the capabilities of the General Ledger, Project Controller and Allocator modules to manage and allocate indirect costs to projects. Understand how to develop indirect rates, configure the Indirect Rate Calculator, use the new Close Project Year at Actual in Microsoft Dynamics SL 2011 FP1 feature, and configure the Government Contractor Reports.

At the Microsoft Dynamics SL User Group Conference in San Diego this year, I also had a chance to ask Kevin Sullivan, CFO of Vista Engineering Technologies, what problems their company has solved since the implementation of Dynamics SL. He shares breakthroughs eliminating manual accounting processes and project overruns, improving cash flow, managing employees’ time and expense on projects, increasing profitability, and passing government accounting-system audits.

New White Paper! 4 Essentials to Becoming a Successful Government Contractor

Are you doing or pursuing contracts with the Department of Defense or another federal or state government agency? Then our new white paper will help. It lays out four essential ingredients an organization must have to pass government audits and fulfill contracts efficiently.

As a government contractor, you must provide detailed cost information—direct and indirect expenses that are allowable—for each contract, project, and task in order to remain compliant and ensure contracts are profitable. The 4 Essentials have to do with the Rules, Tools, Controls, and Schools necessary for compliance, efficiency, and profitability. When you make these four essentials the foundation for fulfilling federal (or applicable state government) contracts, you will be well on your way to becoming a company that can more easily win government contracts, pass audits with flying colors, and ensure that your contracts are a boost, not a burden, to your business.

Download 4 Essentials to Becoming a Successful Government Contractor

Government Contractor White Paper

Synergy Launches 30-Day Free Trial of Microsoft Dynamics SL in the Cloud

Synergy now offers a 30-day free trial of Dynamics SL in the Cloud in four easy steps. For companies looking to improve their financial management and project accounting systems, this offer is an excellent way to learn why Dynamics SL is Microsoft’s flagship software for government contractors and other project-based companies.

The trial offer includes a preliminary customized quote (not final) and an orientation session to help users learn how to navigate and perform functions in Dynamics SL before using it on their own.

The trial is a deployed in a hosted Cloud environment with Dynamics SL available for rent as software-as-a-service (SaaS)—a secure delivery model that requires no upfront capital expenditures for software or IT infrastructure, includes IT support, and makes businesses easily scalable. For 30 days companies can navigate Dynamics SL within their own environment and experience its flexibility and ease of use, particularly for accounting for—and reporting on—project performance and accessing real-time data, as well as making government compliance much easier.

To learn more about criteria for obtaining the trial, the advantages of hosting Dynamics SL in the Cloud, and how to set up a custom quote to fit your companies’ needs, visit Dynamics SL Project Accounting Software 30-Day Trial in the Cloud.