Category Archives: Project Accounting

Project Accounting in the Microsoft Cloud


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 Budgeting
  • Project Resource Management
  • Project Monitoring and Analyzing
  • Project Cost Tracking
  • Remote Project Time & Expense Entry & Approval
  • Project Invoicing
  • 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.

Learn More | Request a Custom Demo

Dynamics 365 Business Edition:
Financials | Basic Projects | Advanced Projects | Sales | Purchasing | Inventory | Capabilities Guide

Overcoming New-Accounting-System Fears

Just considering a change to your project accounting and financial management system often results in having fears and anxieties. Will we be able to find and agree on the right solution? Will our implementing partner really listen to our needs? Will we find a good solution out of the box or will we need to do a lot of customizations? Can we continue business as usual, or will we need to make major adaptations? Will we be able to do financial reporting the way we need to without the hassle?

Rebecca Harrington, VP of Finance & Corporate Controller at Hydro Resources, shares how her company overcame their fears through good software and the expertise of their new software partner.

How to Overcome New-Accounting-System Fears


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.

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.

WEBINAR: How to Simplify Project and Financial Management through Cloud Solutions

Want to take the complexity out of complex projects? Need to integrate projects with financials? Join us at this webinar and learn about a simplified day-in-the-life of a project-driven company using a cloud-based system.

Wednesday, December 18, 2013 10:00 AM Pacific Time

REGISTER NOW!

Experts in project management and accounting will share automated cloud solutions and client stories. You’ll learn how to:

  • Gain control and insight throughout the entire life cycle of your projects from bidding to billing.
  • Use resources strategically, address risks, and tightly manage costs.
  • Boost project performance and profitability through tools that make you more knowledgable and efficient.
  • Empower project managers with information they need to deliver successful projects.
  • Empower executives to monitor projects and programs through customizable dashboards and indicators.
  • Enjoy easy access, flexibility, and scalability through an affordable SaaS model.

by Michael Camp

At our latest Dynamics SL user group in Seattle, I sat down with Tisha Cornwall, VP of Finance of Solutions IQ and asked her how Dynamics SL and Synergy has empowered their company.

In short, Solutions IQ needed a new project accounting and financial management system that could integrate their four existing systems into one and give them around the clock real-time visibility into their projects. In this video, Tisha explains how Dynamics SL and Synergy made it happen and how valuable their seven-year partnership with us is.

ERP: The Key to Growth and Efficiency

Synergy Executive Series – Article 4

The objective of an enterprise resource planning (ERP) solution is to unify and standardize business processes. This can be in financial management, project accounting, reporting, revenue recognition, and other accounting, sales, service, and customer management activities. Centralizing information makes it easier to collect, access, and manage data across the enterprise. Moreover, it helps businesses reap critical value from ERP through expanded visibility into data that can be used to better inform their business decisions and operational proficiency. But many businesses don’t realize how ERP is the key to their own business growth and efficiency.

For companies that have not implemented an ERP system, the top two reasons given are the perception that (1) the effort to implement is a daunting task and (2) the cost of the software and services is prohibitive. But for organizations that have implemented a best-in-class system, they realize these perceptions are not warranted. They discover there are several reasons a new ERP system is well worth it:

  • Any effort expended and cost are usually repaid with measurable and significant efficiency improvements. For example, Dynamics SL can deliver payback in as little as six months, and with Intacct Cloud financials, some organizations achieve payback in less than six months!

  • Many ERP solutions are scalable, allowing for incremental, phased rollouts.

  • A Cloud-based or hosted deployment of ERP results in lower total cost of ownership (TCO) and reduces the effort and cost of upgrades. With a Cloud-based system, it can eliminate upgrade costs entirely as they are included in the subscription fee.

  • With ERP, best-in-class companies are reducing operational costs by 20% and administration expense by 18%.

ERP provides the fiscal and operational system of record upon which you run your business. It serves to standardize, streamline, automate, and add visibility and transparency to your processes. In short, it empowers you to easily manage and make sense of mountains of data. To learn more, download the entire article, ERP: The Key to Growth and Efficiency.

3 Essentials to Position Your Company for Profitable Growth

Synergy Executive Series – Article 3

Profitable Growth
Recent research shows CFOs are increasingly playing a significant role in strategic and operational matters to help their organizations make better decisions faster. Yet midmarket CFOs still cite challenges with this role. The 2010 Global Chief Financial Officer Study reports the following challenges identified by midmarket CFOs who are increasingly responsible for tightly managing their budgets while simultaneously positioning their companies for growth:

  • Over 40 percent of companies produce financial metrics manually
  • 47 percent are poor to average at anticipating external forces
  • Finance spends over 50 percent of its time on transactional activities
  • 50 percent lack a common planning platform;
  • 36 percent lack a common reporting platform
  • Nearly 60 percent are not satisfied with their operational planning and forecasting analytical capability

Business success is realized by efficient information analysis, reporting, and budgeting. By replacing slow and cumbersome manual processes with a project accounting and financial management system that integrates with familiar applications, such as spreadsheets, your people become more efficient and have faster access to critical information. They can spend more of their time on what’s important—capturing, assessing and sharing information that drives efficient operations, intuitive business decisions, and profit-driving performance.

There are three activities that lead to making fast, informed decisions that fuel success today and position your business for profitable growth in the future. Whatever business management solution you identify as best for your needs, make sure that the people within your organization are equipped to effectively perform these essentials using the most current and accurate information:

1. Monitor
2. Analyze
3. Plan

To read the full article on how a new system can deliver these essentials to project-driven companies, download Position Your Company for Profitable Growth.