Business Central and Dynamics NAV
for Your Industry
It’s a mature and functionally rich finance solution, providing core functionality as well as addressing the more complex requirements such as multi-currency and multi-company.
Dynamics NAV 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.
The Financial Management suite includes:
The Financial Management element of Dynamics NAV is the most commonly used function. Both the sales and purchase ledgers are fully integrated with the stock and order processing features, however both sales and purchasing ledger can operate independently of the stock and order processing functions.
What you can do:
Sales invoices (or credits) can be raised against the General Ledger to invoice customers for non-stock activities such as commission, expenses and other miscellaneous items.
Similarly, purchase invoices can be entered directly for non-stock activities (expenses, utility bills, phones, etc). The non-stock process can also be started as a non-stock Purchase Order, which is later matched with the purchase invoice.
Purchase invoice lines can be spread over multiple cost centres and can be posted to prepayment accounts for release over future periods. Both cost centre spreading and future period releases can be set up as templates.
Costing of goods is automatically worked through to the finance system by valuing stock purchases at the time of receipt where it is first accrued as goods received not invoiced before being finalised on invoicing.
The cost of goods sold is automatically released on posting a sales shipment and costing methods of FIFO, LIFO, Standard and Average are available depending on the business preference.
The G/L provides the obvious general journal feature, which in Dynamics NAV can journal between any sub ledger - e.g. between sales ledger, purchase ledgers, G/L, cash book or fixed asset ledger.
Journals can be saved as templates for repeated use and recurring journals take care of the monthly accruals and prepayment activities (including reconciliation).
Information is posted into the general ledger automatically whenever a transaction with a financial impact is recorded e.g. where stock is bought or sold, or adjusted on/off, money is paid in or out, or a miscellaneous invoice is entered either on the sales or purchase ledger. In parallel, the system is also posting any relevant VAT in a VAT sub ledger for later reporting.
The G/L account structure allows for a nominal account to be supported by unlimited dimensions to sub analyse the business. Typical dimensions might be Cost Centre, Project, Employee, Sales Channel, Product Type.
The G/L is supported by a feature-rich Cash Forecasting module that takes its source information from the sales and purchase details held in Dynamics NAV.
All this information can be analysed using the integrated Jet Reports tool built into Microsoft Excel. Jet is fully aware of the Dynamics NAV structures and makes analysing any information (especially the financial information) very easy.
Fixed assets completes the picture on the finance side. The fixed asset module provides for multiple depreciation books each with selected depreciation methods. The assets can be tracked (located) by barcoding the products and a handheld application can be used to update the location and condition of an asset.
Dynamics NAV supports full multi-currency, including automated revaluation and the recording of realized and unrealized gains/losses, as well as multi-company operation with automated inter-company transactions and consolidation!
With Microsoft Dynamics NAV (Navision) ERP software systems, you can improve your business processes in your manufacturing business. You can boost operational efficiency and effectively manage production, including production orders, bills of material, supply planning, and capacity requirements planning. Flexible processes and integrated information equip you to make accurate promises to customers, respond quickly to last-minute requests and changes, and take advantage of new business opportunities to help your business stay ahead of the competition.
Improve business performance from the shop floor to your bottom line. Streamline your operations by automating manufacturing processes and gain greater visibility into all aspects of your operations from order entry to production, warehouse management, and delivery.
Provide customers with information they can count on. Increase the accuracy of promised orders and respond quickly to customer queries about order status and delivery.
React to changing customer demands promptly with agile manufacturing. Plan rush orders, make exceptions, and handle last-minute changes to your manufacturing processes with multiple planning options, tracking, and interactive action messages.
Every day, distributors have the challenge of balancing supply with demand. Affected by worldwide manufacturing activity, consumer demand, and competition, distributors must anticipate accurately or risk a warehouse full of excess inventory. At the same time, they must look for opportunities to for new markets and new suppliers (both local and abroad), while working on ways to streamline operations, control costs, and provide good customer service through efficient order fulfillment and service after the sale.
With flexibility and unparalleled access to data you need to make better-informed decisions and run your business more competitively, you can be more precise with replenishment, order processing, lead times, and data analysis and reporting, improving operations, strengthening relationships with your customers, and positively impacting your bottom line.
Stay on top of your inventory, realizing the best possible profit while keeping your customers happy, analyze stock profit margins, and effectively manage stock levels based on accurate reporting of demand. Define profit margins and set prices accordingly, drill down on pricing details, monitor stock and inventory levels, and keep abreast of customer needs. Identify and keep successful pricing strategies while weeding out those that aren’t producing the margins you’re looking for. Through management alerts and mobile device access, you get the visibility you need to proactively manage rather than operate in a reactive mode, impacting your profits.
Meet the EDI requirements of your trading partners with high level performance and high transaction volume efficiency, eliminating unnecessary document and transaction fees. Communication components enable easy connection to a VAN mailbox or directly to trading partners. Because data is stored in raw EDI format, you can easily access, analyze, and act on accurate information. Powerful data transformation tools mean extensive EDI functionality, all without extensive customization's to Dynamics NAV.
Run order processing more efficiently and effectively. Fully integrated tools include sales price/discount engine, email invoicing, built-in credit card processing, sales commission management, estimated shipping costs, mobile device support to streamline order processing.
Keep your finger on the pulse of your profit margins with tools to access and analyze marketing, sales, order processing, and financial data to create accurate, reliable forecasts. Look at costs in detail and in real time, by customer, sales order, region, or product, giving you confidence in making business decisions to increase profitability. Uncover every barrier to profitability—identify customers and issues that cost you the most in managing complaints; better manage warehouse inventory through visibility into what moves and what doesn’t; manage audits with full transparency and compliance throughout the organization; ensure sales margins sold and realized are the same; and create reports that show you opportunities for improving operations throughout your business.
Trade spend management
Better manage the process of tracking promotions, prices, and discounts, which can be complex and cause heavy losses. You won’t need to be concerned with under-pricing—you can track pricing arrangements for margin security, measure trade spend budgeted, committed, and implemented—and maintain your competitive advantage.
Pricing and promotions
Get the power and flexibility to manage your pricing and promotions to fit your needs, keeping you from setting prices inaccurately, which can lead to failure of what would otherwise be a successful promotion. Build revenue optimizing pricing strategies using real-time data, accurate reporting of past campaigns, current market conditions, and buyer behavior. Calculate the most revenue-optimizing prices through trend analysis and forecast sales based on actual results. It’s fast and easy to set special pricing parameters using the calculation method of your choice, by key accounts, single or multi-location stores, and more. You can set up promotions for all your customers or tailor promotions by individual customer groups or groups with item exceptions.
Financial reporting and analysis
Thorough, accurate financial reporting and analysis is critical to making the right business decisions and facilitating growth. With complete, easy access to data and security, you can perform analysis and produce reports that put information into the hands of key stakeholders and tailor analysis and reports to meet their requirements. Analyze past and current operations to determine that are most profitable and make accurate forecasts to determine where to take your company in the future. You can also manage global operations, including handling multi-currency transactions and staying in compliance with global and local government and regulatory entities.
Shipping and receiving
Effectively manage complex warehouse processes and high volumes with a solution tailored to your business. Gain control of your shipping operation, improving accuracy of shipping forecasts, decreasing missed shipments and improper packaging, and increasing customer satisfaction. Maintain accurate, on-time cross docking, ensure you’re getting the best carrier rates, increase your shipping accuracy through faster communication, and avoid shipping errors and damage during shipping.
Simplify receiving and shipping while reducing wasted, lost, and damaged stock by streamlining processes, from order processing to transportation. With accurate, real-time communication, access to data, and detailed reports—either on your desktop or handheld device—you can more effectively determine staff requirements, estimate productivity levels, and visualize wave picking arrangements.
Purchasing and procurement
Simplify purchasing and procurement with both compliance and purchasing in a single, automated solution, letting you better control costs through improving efficiencies in your purchasing cycle and increasing transparency.
Inventory forecasting and replenishment
Not having enough stock in inventory to meet demands can spell disaster, but carrying too much inventory is just as detrimental. Through collaborative forecasting and complete access to historical data, trends, and market conditions, you can confidently forecast inventory demands and tailor your inventory control strategies. Avoid overspending on deliveries with container loading optimization that provides accurate bench-marking data for purchases with suggested order processing helps you avoid inaccurate order analysis.