Would you like to know how you can improve the accuracy of budgets and forecasts in Microsoft Dynamics? Obviously the answer to this question is yes!
When you are making plans and reviewing them, your role is to give useful insights that will allow you to shape the future direction of your business. However, you may be under the impression that you are constantly being pulled from right to left all the time, rather than being able to concentrate on your core purpose. The question you should asking at this point is what is holding you back?
It is often the case in businesses where some of your best employees are wasting their time on labour intensive tasks & manual processes. Whether it be reconciling expenses, collating data together to produce variance analysis reports or checking that a journal entry posting matches up with your budget.
These labour intensive activities can be removed through the use of Jet which can help to automate and streamline these tasks, allowing you to focus more time on the analysis side of things. Implementing BizView (a cloud-based planning, budgeting & forecasting system) along with Jet Reports (an Excel-based, real-time ERP reporting tool designed specifically for Microsoft Dynamics) enables you to improve your variance analysis dramatically, improve your business agility, budget and forecast accuracy as well as your ability to react fast to changing events.
By choosing to implement both BizView and Jet Reports together you can gain the following benefits:
1) Reducing reporting cycles
You can do this by collating plan and live actuals within just one Excel report. From here, you can take advantage of Jet Reports' intuitive NL function which will add live actuals from whichever Microsoft ERP solution you are using alongside budget models & versions. Furthermore, you can easily add BizView data into existing reports or build new ones in a matter of minutes. Quicken time-critical processes by removing labour intensive tasks and error-prone data dumps. By having a faster process in place, you will be able to produce budget versions as well as analysis variances more often to dramatically improve the accuracy of your budgets and forecasts.
2) Accelerating variance analysis
You can achieve this with integrated drill down to your day-to-day Microsoft Dynamics data. Go through balances to find out more out about detailed transactions from Excel by using seamless integration with Dynamics NAV and Business Central. This will allow you to streamline workflows which will save you vast amounts of time thus allowing you to spend more time on more frequent reforecasting to accelerate the accuracy of your plans which will lead to better business outcomes.
3) Have better visibility over planning processes
You can achieve this by having quick access to data from any Microsoft Dynamics module that your business uses on a day-to-day basis. Build reports that automatically track both financial and operational plans without needing to get your IT team involved. Once you roll out planning to all other business functions, you will find that it gives all parties involved quick access to all the actuals data that you require to accurately reforecast on a more regular basis as well as enabling you to gain a firm grasp of the end-to-end process.
If you are a business that is currently using Dynamics GP, Dynamics NAV or Business Central and are looking to improve your business agility through the use of Jet Reports and BizView then please get in touch with our team of Jet experts today to discuss how we can help your business.
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