There are plenty of Microsoft Dynamics NAV retail users who are managing a parent company’s financial portfolio with one or more subsidiaries. Combining transactional and operational information from a number of entities, at times with multiple currencies, can be a challenge without a modern financial consolidations tool. As the size and significance of data continues to grow, organizational decision-makers nearly require a software that can assist in consolidating data into a unified set of financial statements. If you’re relying on Dynamics NAV for your retail business, this article will aim to lay out your options for a business user friendly, powerful consolidations solution.
There is a population of retail Microsoft Dynamics AX users who are overseeing the financials for a parent organization’s multiple subsidiaries. Aggregating operational and transactional data from multiple entities, sometimes with more than one currency, can be challenging without one of today’s financial consolidations solutions. As the amount and importance of data steadily grows, corporate decision-makers can’t avoid needing a solution that can help consolidate information into a singular set of financial reports. If you are using Dynamics AX as a retail company, this article will hopefully help you familiarize yourself with options for an easy-to-use, dynamic consolidation software.
Whether you are budgeting, forecasting, or comparing what-if scenarios for your organization, historical actuals and projected figures are required so you can strategize particularly for your retail company, maneuvering through challenges and opportunities in the upcoming months and years. There are plenty of solutions that are impactful for retail organizations to upgrade planning procedures with Dynamics NAV, whether you elect to build your own process, depend on NAV’s built-in budgeting functionality, or go with an independent software vendor (ISV) tool. This article will explore the most popular options for modern budgeting, forecasting, and modeling, particularly to meet your retail planning goals with Microsoft Dynamics NAV.
Financial reporting is perhaps the cornerstone of Business Intelligence (BI) analyses as they quantify a company’s financial health in what should be an easily digestible set of operational and financial reports. Business is moving so fast these days, and Retail is exactly the same. Accounting systems, like Microsoft Dynamics NAV, usually provide built-in financial reporting functionality. But with consumer demands for complex, richer data analyses – and reporting that is specific to your industry – the native report designer is typically subpar for end user objectives. In this article, we’ll explore independent software vendor (ISV) offerings for dynamic, easy-to-use, and modern financial tools that provide Retail companies the analytics they require to make informed decisions about the future.
No matter if you are budgeting, forecasting, or analyzing what-if scenarios for your company, they all consist of historical actuals and projections, so you can plan specifically for managing your retail organization, circumventing obstacles and maximizing your momentum in the coming period. There are several tools that can assist retail companies using Dynamics AX to expand their planning processes, whether you choose to craft your own method, rely on the native Dynamics AX budgeting function, or opt for an independent software vendor (ISV) solution. In this article, I’ll discuss your top options for today’s budgeting, forecasting, and modeling, specifically to meet your retail planning objectives with Microsoft Dynamics AX.
If you’re part of a Retail organization’s finance team and you’re using Microsoft Dynamics AX for your accounting processes, this article is for you, discussing your financial reporting software options.
Financial reporting is arguably the centerpiece of Business Intelligence (BI) analytics as they summarize the financial health of an organization in a hopefully easy-to-read set of financial and operational statements. Business is moving at quite a rapid pace today, and Retail is no different. Enterprise resource planning (ERP) systems, like Microsoft Dynamics AX, typically offer financial reporting functionality built right into the program. However, with the need for more complex, robust data analytics – and now, industry-specific reporting – the native report writing usually falls short of consumer needs. This article will discuss your third party options for modern, powerful, and business user friendly financial reporting solutions, offering Retail organizations the information they need to make stronger decisions about the future of their company.
This article will discuss the functional and flexible KPI analytics to think about when selecting a powerful, business user friendly retail dashboard solution for your Microsoft Dynamics AX experience.
Is it surprising to you that dashboards are the number one solution in the Business Intelligence (BI) marketplace? Probably not. Gartner’s 2013 study on Financial Executive International CFO Technology reported that dashboards, scorecards, and performance management solutions are the number one priority for executives today. The modern retail business moves faster than ever, and dashboards offer easy-to-read, quick-to-digest data analysis. More specifically, dashboards are charts, graphs, and scorecards that showcase organizational trends, successes, and challenges with key performance indicators (KPIs), whether focusing on a project, a department, or looking at the whole organization.
When it comes to business intelligence analytics, I often find the outlying factors, which at first glance may seem insignificant, to be the most interesting and valuable nuggets of insight. It’s a little like predicting the outcome of a football game. Most analysts will pull out their stat sheets and substantiate their predictions with the usual tangibles like win-loss records, key matchups, skilled positions, etc. But the good analysts (usually the older retired coaches) always add those little insights that trump the statistical data. Things like warm weather teams traveling north in November. Rivalry factors. Short practice weeks. All the little things that don’t show up in the numbers, but have a huge impact on the outcome of the game.
Retail insight isn’t too different. Good BI analytics produces more than static facts and figures, it looks deeper into current trends, buying patterns—even events—that help you make actionable, informed decisions. For example, what outcome will the effects of Hurricane Sandy have on shopping in New York and New Jersey? Which neighborhoods are even functioning? Are consumers in those communities really likely to visit a store, or will they leverage online spending due to lack of transportation and infrastructure? How will that affect your staffing levels during the holidays?
Good BI analytics connects the dots between the real world and your business, helping you to accurately forecast, track and analyze your data in real-time, in ever-changing conditions. Good BI analytics offers complete visibility with timely, relevant data, and opens the window into consumer behavior and buying habits that turns predictions into profitability.
Learn more about Solver’s BI360 for Retail, and how to get the detailed insight you need to proactively run your retail operation. Read more.