As a progressive SAAS company, utilizing a reliable and efficient ERP system like Dynamics 365 Business Central (D365 BC) is essential to your success. To take your financial planning and analysis to the next level, you may also want to consider integrating top third-party forecasting software with D365 BC. By doing so, you can ensure accurate and timely financial forecasts, improve decision-making, and maximize profitability. In this blog, we will discuss the key functionality that a progressive SAAS company using D365 BC should look for when evaluating top third-party forecasting software.
Here are the top features to expect in leading forecasting software that integrates with Dynamics 365 Business Central:
- Pre-built Integration to the ERP system – This feature enables the forecasting software to work seamlessly with your D365 BC system without requiring custom development.
- Cash Flow Forecast – This feature allows you to accurately forecast your company’s cash flow by analyzing historical cash flow data and current trends.
- Subscription Sales and Recurring Revenue Forecast – This feature enables you to forecast recurring revenue streams and predict future revenue growth.
- Payroll Forecast – This feature helps you to predict future payroll expenses based on historical data and trends.
- Workflow – This feature provides a collaborative platform for finance and accounting teams to work together on forecasting, budgeting, and planning tasks.
- Flexibility – This feature allows you to adjust and update your forecasts quickly and easily, ensuring that your financial data is always up-to-date.
- Driver-Based Models – This feature helps you to identify the key drivers of your business and build models that accurately predict future outcomes.
- Security – This feature ensures that your financial data is secure and protected from unauthorized access.
- Predictive Analytics – This feature uses advanced algorithms to analyze past performance and predict future outcomes, allowing you to make data-driven decisions.
- Easy Reporting and Visualization – This feature enables you to easily generate reports and visualize your financial data, allowing you to identify trends and make informed decisions.
By utilizing modern forecasting software, finance and accounting departments can experience several benefits, such as:
- Less Time Spent Managing Forecasting Processes – With automation, teams can spend less time on manual data entry and more time on strategic planning and analysis.
- More Time for Higher Value Tasks – By automating routine forecasting tasks, finance and accounting teams can focus on higher value tasks that can impact the company’s bottom line.
- Less Risk for Mistakes – By automating the forecasting process, the risk for errors and omissions is reduced, ensuring the accuracy of the data.
- Faster and Better Decisions – With accurate and timely financial data, business leaders can make faster and better-informed decisions.
- More Accurate Forecasts – With advanced formula automation, forecasting software can generate more accurate forecasts.
- Faster Forecasting – With automation, forecasting can be done faster, enabling companies to quickly respond to changes in the business environment.
In conclusion, choosing the right forecasting software is essential to making accurate and informed financial decisions for your SAAS company. By integrating the right forecasting software with D365 BC, you can streamline your financial processes, gain valuable insights, and maximize profitability. With the features mentioned in this blog, you can ensure that you are choosing the right forecasting software for your company’s unique needs.
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