With the rapid growth of Microsoft’s Dynamics 365 Business Central (D365 BC) ERP solution comes investments in add-on app solutions from independent software vendors (ISVs). One such company is Progressus and their project solution for D365 BC. With Progressus, small and mid-sized companies get easy-to-configure yet advanced project accounting functionality in the cloud. However, as all project centric business managers knows, good transactional systems also need proper planning and analysis tools and this can be the difference between success and failure in today’s highly competitive markets.

As successful project-based companies invests in new cloud ERPs like D365 BC and add advanced project apps like Progressus, a natural next step after the implementation is to look for an integrated and flexible reporting and planning solution that can operate down to the detailed field and dimension level in the Progressus tables inside D365 BC.  One such solution is Solver. Most companies these days prefer pre-integrated solutions and in order to deliver exactly that, Solver partnered with Progressus and now delivers out-of-the box integration to both D365 BC and the relevant Progressus tables and dimensions there. Solver not only provides D365 BC customers with a strong financial reporting and budgeting solution for general ledger and sub-ledger data, but it now extends this functionality into all the project detail provided by Progressus.

Examples of key benefits that customers get are:

  • Pre-built integration to Dynamics 365 and Progressus tables
  • Pre-built Progressus Project reports
  • Full report writer with Excel design
  • Optional Budgeting module
  • Multi-tenant Azure Cloud Platform
  • Pre-built Power BI integration for interactive Dashboards

However, as with any reporting solution, pre-built report templates speeds up deployment when can be used as a starting point. Solver offers a number of project focused reports for Progressus including:

  • Project Benchmarking
  • Project Manager Benchmarking
  • Project Capacity by Customer Group and Resource
  • Project Capacity by Department and Resource
  • Project Capacity Trend by Customer Group and Resource
  • Project Detail by Customer
  • Project List
  • Project Resource Detail
  • Projects – Actual vs Budget Variance

While both solutions are independently integrated to D365 BC, they now also work together after the two companies partnered and decided to configure a joint integration.

 

With the rapid growth in popularity of cloud-based ERPs like D365 BC, one of the next big cloud drivers is that ISVs, such as Progressus and Solver, work together to give customers elegant integrations across both standard ERP data as well as transactions originating from ISV add-ins to the ERP systems, eliminating many of the custom integrations that had to be configured in the old on-premise platforms.

 

Now as the very beginning of the 2020’s, with rapid technology improvements driving industry changes, project managers and executives will demand and need complete insight to their data to drive faster and better decisions. ERP vendors and ISVs are making good strides to make this happen!

Do you wish your business had a better way to manage financial planning? Maybe you need to scale your financial model, but your Excel model or current financial planning software is no longer able to meet your needs. You may need a more efficient financial planning system that eliminates busywork and frees up your team to work on more important tasks.

If your financial modeling software is not keeping up with your business needs, it may be time to automate your business’ financial planning processes. Getting your financial modeling system right is crucial for long-term success. With the right practices, you can accurately analyze financial data and forecast your company’s growth against a number of possible scenarios.

A reliable system for analyzing and organizing financial data through automation will put you significantly ahead of the curve and enable you to plan for the future with better insight and precision.

Benefits of Automated Financial Modeling

Financial models are integral parts of growing and maintaining a business. With the expanding standardization of Artificial Intelligence (AI) in Corporate Performance Management (CPM) systems, more businesses are reaping the benefits of automation. We now have the ability to automate increasingly complex tasks such as big data organization and analysis.

Automation has transformed business processes in the past decade due its ability to increase business efficiency, productivity and even creativity. Automating processes that would otherwise take up hours each day helps businesses focus on visionary work instead of mundane operations.

While automating a financial model may seem like an overwhelming task, it’s absolutely necessary if you want to see substantial improvement in your business’s financial strategy. The benefits of automating a financial model include:

  • Relieves businesses of busywork and frees up employees to focus on higher-order tasks
  • Provides significant improvements to the quality of resource planning practices
  • Improves business management by eliminating much of the legwork associated with building, using and adapting financial models
  • Enhances decision-making abilities by providing accurate and instant calculations
  • Enables companies to make financial decisions faster and with better information
  • Allows for a degree of standardization that manual models do not
  • Streamlines the jobs of financial analysts and business leaders

The benefits of automating your business’s financial model dramatically outweigh the time and patience required.

Steps to Automate a Business Financial Model Through CPM Software

Automating a business financial model requires significant time and energy, but the task is more than doable. There are a few key factors to consider before automating your current financial model, including:

  • Your business’ fiscal history
  • Assumptions, financial and growth goals for your business
  • Your team’s preferences when it comes to using CPM software
  • What you need your solution to do for your business

Take these four steps to automate your financial business plan through CPM software:

  1. Determine a specific goal for automating your financial model. What do you need this system to accomplish for your business in the next quarter, year or five years?
  2. Create an outline that documents all financial model inputs, workings and outputs. How will your automated financial model work in practice? What are the drivers for the model?
  3. Choose CPM software that meets your financial modeling needs and automates all the right processes. Make sure you find a solution that meets your current needs and can scale with your business.
  4. Be patient. As with any new system, an automated financial model takes time to implement, and your team will need time to become acclimated to the new processes.

When done right, automating your financial model will render positive results over the long-term.

Tips for Making Financial Modeling Software Integration Simple

Make your new software integration process much easier by following these four tips:

  • Choose a system with features that your current team will find useful.
  • Invest in cloud-based applications. Doing so makes the overall integration process simpler for everyone involved. In addition, cloud-based data storage can be essential for easy access to data and keeping your CPM software organized.
  • Make sure you have a solid plan for practical, step-by-step integration. For new systems to work, every user needs to be on the same page.
  • Give your business time to adjust to the new software tools. Many employers are too quick to overhaul an automated financial modeling software program that still needs to work out technical issues or does not deliver immediate improvements. Keep in mind that there will be a learning curve, and wait until that curve has passed before making drastic changes.

Choose Solver for Your Business’ Financial Modeling Software

At Solver, we deliver innovative, business-driven solutions for organizations looking to make faster, better decisions and gain complete insight into their business. Managers can quickly access important financial and operational data and information in a single solution. With automated reporting and planning processes, Solver helps you make better-informed business decisions with greater speed.

If you’re looking for scalable financial modeling software that can be customized to meet your company’s needs, contact the experts at Solver to find out more about what we can do for you.

Payroll-Now-Blog-Picture-1200×675
Intacct-budgeting-01

This article will describe how organizations leverage planning software to increase efficiency.

BudgetingForecasting_01

This article will provide insight into some of the key features you could expect from modern corporate performance management (CPM) solutions.

Cloud-Computing-Concept.-The-Future-Everything-from-Socket

This article focuses on modern cloud-based reporting using BI360 as an example of a solution that is affordable and enables companies to make better business decisions.

PowerBI_Dashboard_01

This article focuses on the best of both worlds: a world-class reporting solution and a leading visualization tool.

shutterstock_74784901-1200×1200

This article will focus on the benefits of partnering with a company that offers a corporate performance management solution as a product.

Image taken from Shutterstock.

Read more

SocMed-Ascend-Journeyv2-1200×630

New Conference Name…Same Awesome Location…Better Learning and Networking
journey band at ascend 2019 #bi360con
Read more

Back-view-image-of-businessman-with-arms-crossed-behind-head

This article will help you navigate budgeting and planning with corporate performance management solutions.

Man in suit looking at analytics for his budget and planning project

Image taken from Shutterstock.

Read more