Why Microsoft Navision ERP is Ideal for Your Business
Navision is one of the four business management systems by Microsoft that fall under Enterprise Resource Planning (ERP) systems. Microsoft rebranded this product in 2005 and is officially known as Microsoft Dynamics NAV. Before it was rebranded, it had undergone name changes including Navision Financials, Navision Attain, Navision Solutions, and Microsoft Business Solutions. Today, some people refer to it simply as Navision or NAV, although the right terminology is “N, A, V”. ERP solutions are ideal for business of all sizes, including startups and those that have in operation for a long time.
It is estimated that by 2021, Singapore will have 4.1million online shoppers. This is a significant portion of Singapore’s population, which is currently approximately 5.6million. The popularity of e-commerce and the creation of many online businesses have made warehousing an essential component for every company involved in product distribution.
When you integrate the warehouse management system with Navision, you will get real-time information of orders, reports of products that have left the warehouse, the inventory left after the deductions, and the delivery progress reports.
Keeping track of your warehouse will make it easy for you to identify fast-selling products, and those that are not selling well yet are occupying space. This knowledge will make it easy for you to plan better use of the warehouse space, increase your revenue, and you will also seal any loopholes that may lead to the loss of inventory. If your warehouse is poorly run, it does not matter if you have excellent customer service or client base, your business will be impacted negatively since the core part of your business is mismanaged, and may eventually result in losses.
From time to time, you need to look at how your business is performing. This enables you to make sound decisions on the direction you would like your business to take. Microsoft Navision has business intelligence and analytics component that will help you organize the company through a fact-based decision-making process.
The analytical tools present in this software include graphic displays, web-based delivery options, and online analytical processing (OLAP) cubes. These tools allow you to have real-time data that will enable you to make confident decisions on steps to take to make your business a success.
Financial Management Systems
If you are running a business, the primary reason is to make a profit. Whether you are providing services or selling products, you should see a growth in your business over a couple of months in terms of the number of clients you have and the financial returns. It is never too late to have a financial management system, but it is important to have a system in place from the inception of your business.
Microsoft Dynamics NAV provides finance solutions system that helps you to keep track of your company’s expenses and sources of revenue. You can easily determine at a glance if you need to reduce your operational costs, let go of products that are not selling well or the products that need to be marketed more because they have the potential of bringing in more profits for your business. Other financial aspects you can manage using Navision include payables, inventory, fixed assets, cash flow, analytical accounting, and the general ledger.
Human Resource and Payroll
Managing the payroll can be a nightmare, especially for an organization that has hundreds of employees. If done manually, it can be time-consuming, and it will take your staff from their other responsibilities in a bid to make sure the payroll is ready on time.
The Microsoft Navision business management solution integrates all facets of human resources, making it easier for the department to manage everything that has to do with the employees more efficiently and accurately. It is also easy to identify erratic employee behavior, such as frequent requests for an advance. This can be looked at in relation to employee behavior and productivity. Looking at the links will make it easy for the human resource department to discuss the situation with the employee before it gets out of hand.
If your employees have their issues handled on time, including their pay, the result will be increased employee satisfaction. In the long run, this will lead to increased productivity. Navision does not just make it easier to manage the payroll, it also has security features which only allows authorized personnel to access the data.
Even though it does not seem like it, the use of paper in an organization can be quite costly, especially if you have thousands of transactions that need to be filed daily. Navision has mobile service properties that will help your business cut the expenses on paper.
Besides it being a cost-cutting measure, the use of the mobile service available from Navision ensures field service management and the office share information real-time without wasting time trying to get documents delivered to the office for approval. Employees in the field can also feed information in their mobile devices, which will be accessed by other employees and management in the office because the systems are synchronized.
Managing projects can be a nightmare without the right management system. The Microsoft Navision ERP helps to better manage the budgeting, billing, and resource management processes. You will be able to track expenses, usage, planning capacity, and future projections. Having accurate information makes it easy for you to confidently make decisions that are informed and comprehensive.
Some of the benefits include helping your projects to run smoothly and on track, align people based on their strengths for greater productivity, Take corrective actions promptly based on facts, automate tasks such as payroll processing, and reduction in errors.
A business is as good as the systems it has in place. When you invest in a business, you need to see a return on the investment. No one ever anticipates that his business will fail. However, failure to have the right system will affect your business adversely. The Microsoft Navision ERP targets various sections of your business and is critical for the smooth running of your business.