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Microsoft Dynamics NAV – Helping Organizations To Stay Competitive

In order to stay competitive in this challenging marketing landscape, organizations need right ERP solution that can help in bridging the gap between them and their partners while streamlining business by automating and optimizing operational core functions. One such solution is Microsoft Dynamics NAV that enables small and medium-sized businesses to automate their processes while connecting sales, purchasing, operations, accounting, and stock management. As organizations need visibility and real-time data to stay competitive, NAV aligns all business processes such as financials to accounting and inventory to supply chain management and client care, helping organizations to make more informed, data driven decisions.

With multi-language, multi-currency support, Dynamics NAV enables organizations to manage accounting and finances, supply chain, and operations globally while remaining compliant. NAV enables organizations to start with their current requirements while easily scale-up to cater to their changing business needs. Furthermore, organizations get the flexibility to start in Microsoft cloud or on their own servers—depending on their own requirements. By integrating email, calendar, and files alongside data, reports and business processes, Dynamics NAV delivers a consistent user experience across devices, enabling users to accomplish task whether they are in the office or on the go.

Licensing Models of Microsoft Dynamics NAV 2018. >.

Perpetual Licensing – Engineered for small and midsize businesses, Navision 2018 enables businesses to start with an affordable upfront starting price. Perpetual Licensing ensures user access to that functionality.

Service Provider’s Subscription Licensing – This type of licensing helps in keeping the upfront cost to a minimum through a “per user per month” licensing fee. With this licensing, customers can have Limited User and Full User licenses to access the functionality.

Availability of Dynamics NAV 2018.

Dynamics NAV is available as.

The Starter Pack

This version of Dynamics NAV is recommended for small and mid-size businesses. They can affordably get started with core capabilities across Financials, Distribution and Professional Services functionality. With this pack, you gain actionable insights of the finances alongside purchase and sell items and materials, Pay and manage employees, manage billables, & Customer Relationship Management (CRM) to manage customer and supplier relationships.

The Extended Pack.

Extended Pack is perfect for organizations that need more advanced functionality. This version of Dynamics NAV 2018 integrates core financials and distribution management alongside capabilities across Manufacturing and warehousing.

Financial capabilities of Microsoft Dynamics NAV 2018.

Accounts Schedules – Dynamics NAV 2018 enables accountants and financial analysts to gain actionable insights from the chart of accounts, budgets, cash-flow accounts and cost types into financial reports. With useful business insights, organizations can efficiently monitor the health of the business while enabling decision makers to make more informed decisions. With Dynamics NAV, organizations can make simple calculations on the data and compare current figures with historical ones alongside with budgets.>.

Allocations – NAV enables you to allocate general ledger entries to accounts, departments and projects based on amount, percentage, or quantity.>.

Basic General Ledger – With all basic functionality to setup company including general ledger, chart of accounts, general journals, VAT facilities, recurring journals, and source codes, Navision delivers capabilities for internal and external reporting, Workflow for approval of sales and purchase documents, multi-currency support, capability to export data from any form to Microsoft Word.

Basic XBRL – Dynamics NAV enables you to export documents in XBRL (Extensible Business Reporting Language) format and import XBRL taxonomies from internet, email, etc. By mapping general ledger to XBRL taxonomies, NAV enables you to use document for various purposes, independent of the format required by the receiver of the document.

Budgets – With NAV, you can create budget and print a balance that shows variances to the budget by percentage. In NAV, budgets can be exported/ imported to/from Excel, enabling you to use all the calculation capabilities of Excel while preparing your budgets.

Change Log – With NAV, you can easily log all direct modifications a user makes to the data in the database. However, this is not applicable to changes made on “working documents” such as journals, sales orders, and purchase orders.

Consolidation – You can consolidate companies in Dynamics NAV. You can also import and export financial information in this module.

Deferrals – With deferral template, you can automate the process of deferring revenues and expenses over a pre-defined schedule. With this functionality, organizations can easily recognize revenues and expenses in periods other than the period in which the transaction is posted.

Intercompany Postings – Available in Extended pack, this functionality enables organizations to manage accounting for more than one company. Document flow through an Inbox/Outbox can be controlled while transactions through receivables and payables enable the use of currencies and correct reconciliation.

Responsibility Centers – With NAV, you can set up profit centers and cost centers. You can tie a user to a responsibility center so that only sales and purchase documents related to the particular user are displayed.

Cost Accounting – By delivering real-time visibility into budgeted and actual costs of operations, departments, products, and projects, Dynamics Navision ERP offers an efficient way to control the company’s costs. Cost information can be synchronized with general ledger and then this information can be allocated to different costs centers and cost objects. You can also create cost budgets and transfer cost budget entries to actual entries.

Cash Flow Forecast – With Navision, you can idea about company’s liquidity—cash and other treasure positions. Based on cash receipts and cash disbursements, you can get a direct and accurate cash flow forecast. Furthermore, you can also create a basic cash flow forecasting set up.

Basic Fixed Assets – NAV helps you to keep track of fixed assets such as buildings, machinery, and equipment. Furthermore, you also get the flexibility to carry out fixed-asset transactions such as acquisitions, depreciation, write-downs, appreciation, and disposal. In NAV, you can also set up depreciation books to satisfy legal requirements, and for tax and internal accounting purposes.

Multiple Currencies – Dynamics NAV offers support to multiple currency system, enabling you to manage currencies across payables and receivables, general ledger reports, resource and inventory items, and bank accounts. You can also convert currency with euro legislation while remaining compliant in the European Monetary Union (EMU) countries. NAV performs currency conversion according to exchange rates that are stored and maintained in the exchange rate table.

Advanced Dimensions – Navision offers unlimited dimensions for transactions in all ledgers. As per your specific business needs, you can name the dimensions. Furthermore, you can set up rules for how to combine dimensions and dimension values. With this, you can control the use of dimensions while increasing the reliability of output based on dimensions.

Final Thoughts.

Microsoft ERP Navision delivers powerful up-to-date analysis and reports, enabling you to identify the potential risks before they occur. Built-in intelligence enables you to leverage data driven actionable insights to make the right strategic decisions for your business for success and growth. Dynamics NAV can be purchased from Microsoft certified Partner. Most of the Navision Consulting Companies offer range of services such as planning, implementation, integration, customization, and support services aimed at optimizing the solution for each customer’s specific needs. So, get Microsoft Navision ERP to streamline your business processes.

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