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Consolidation_01

For many years it seems like every mid-market and enterprise resource planning (ERP) vendor has aspired to offer native financial consolidation software. However, they all seem to fall short, often to the disappointment of customers that were promised that their new ERP system easily could produce the consolidated financials from their individual subsidiary ledgers. 

So why is it so hard for an ERP vendor to deliver the necessary financial consolidation functionality inside the ERP system itself? There can be any number of reasons.

Limitations in Current Financial Consolidation ERPs

  • Lack of ability to handle different chart of accounts
  • Lack of ability of consolidating across subsidiaries with different fiscal calendars
  • Poor currency conversion functionality 
  • Weak auto-elimination functionality
  • Tedious to post manual consolidation adjustments
  • Weak financial report writer to produce the consolidated reports
  • Clunky consolidation process with too many steps 
  • Problematic to consolidate across subsidiaries with different ERPs
  • Lack of dynamic pro-forma consolidations

 

It would be a controller’s dream if all of these areas were elegantly handled within their ERP system. And, while most mid-market and enterprise ERPs typically can check all or most of the boxes for consolidation features, almost always, consolidating in the ERP it is simply too clunky with too many steps. Because of this, the finance team ends up doing it in Excel where they at least are comfortable with formulas and they can produce professional report layout. 

 

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Microsoft Dynamics 365 ERP

But what about Microsoft’s Dynamics 365 Finance and Operations (D365 FO) ERP system? 

While it clearly can be considered one of the top cloud solutions on the market today- alongside SAP, Oracle and Workday– customers with significant consolidations and related financial reporting needs, often end up in Excel in the final steps of the process. 

While there are plenty of ERP consolidation features in D365 FO, and its native Management Reporter is an above-the-average report writer, it is increasingly normal that customers add on a “best-of-breed” corporate performance management (CPM) solution to streamline their financial consolidation and reporting software.  

Modern cloud-based CPM solutions

Solver is an example of a CPM solution that comes with several added advantages for Microsoft customers.

Advantages of Solver CPM for Financial Consolidation

  • Solution is cloud-based Azure like D365 FO
  • Its configurable to D365’s general ledger as well as sub-ledgers
  • It has a pre-built connector to Power BI for visualization

PowerBI_Dashboard_01

 

Some cloud-based CPM vendors now also offer an Excel add-in to give power users more flexible and familiar report design. 

End users can still run the same reports in the cloud using their web browsers. They could do the same using their local Excel on the desktop connected to the CPM database in the cloud.

Consolidation_01

 

An added advantage of modern cloud-based CPM solutions is that they typically also house advanced budgeting and workflow capabilities. This allow for a single solution and a single report/form designer for both financial reporting, consolidations and budgeting. 

Level Up Your Dynamics 365 Finance & Operations With Solver

In the next decade, enabling faster and better decisions will be one of the key competitive advantages. This advantage differentiates successful, growing companies from others. 

Dynamics 365 Finance and Operations, a leading ERP solution, is a great cloud-based transaction platform because it drives better data and accounting processes. A modern CPM solution with a snug fit on top of D365 FO and that compliments visualization in Power BI checks the boxes that a finance team needs to take their ERP financial consolidations and reporting processes to the next level.

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What to Expect Plus Tips to Help You Take Advantage of All Focus 2018 Has to Offer

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In this article, Sissela, a Solver visitor from Sweden, stopped by our Los Angeles office, and interviewed Solver employees for her school’s project on work experience.
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This article takes a closer look at the company culture at Solver.

solverawardsIn this article, I’ll be covering Solver’s culture, both internally and externally – and how that has changed the way I view work and my work ethic. In America, we work an average of 40-47 hours per week. According to Investopedia, “corporate culture refers to the beliefs and behaviors that determine how a company’s employees and management interact and handle outside business transactions.” Corporate culture has arguably always been important, but it’s only become so popular, almost a “buzzword” in the past decade, maybe because of the start-up phenomenon. Culture is often a prime factor in long-term organizational success. Also, a culture’s success depends on an organization’s business market, strategies and workforce.

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award winnerThis article will recap all of the details from Focus 2017, the 5th annual user conference for BI360 customers and partners.

And just like that, Focus 2017 has come and gone. For the planning committee at Solver, charged with the planning and execution of the 5th annual user conference for the community of BI360 customers and partners, it is bittersweet. To me, the best conferences can seem like summer camp for adult professionals, as you step out of your routine and your life to take up residence at a specific locale that is an all-inclusive on learning new skill sets, making new connections, and having fun. And Focus never disappoints in the context of this analogy. This is the fourth year I have attended the event, and it was such a joy to see familiar faces and share memories from past years with new faces at the ample networking opportunities. This blog entry will recap the highlights from this year’s Focus event.
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This article will talk about what BI360 customers and partners can expect for BI360 Focus this late August.

solver_awards_2016-001Solver Global, along with its customers and partners, will come together in just a few weeks on Monday August 21, at the Hilton La Jolla Torrey Pines in San Diego, CA. The fifth annual BI360 customer and partner conference will be a space where we can share best practices, networking and hands-on learning opportunities to take your BI360 experience to the next level. This article will focus on the activities and experiences BI360 Focus attendees can expect this year.

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This article will detail what BI360 customers and partners can expect from the 5th edition of Focus, the annual user conference Solver puts on in Southern California.
When I first attended Focus in 2014, I was relatively new to the corporate performance management (CPM) space. I was starting to understand the ins and outs of financial and operational reporting, budgeting, forecasting, and modeling, data visualizations like dashboards of graphs, charts, and scorecards, and data warehousing as solutions to organizational performance management. But everything became three-dimensional to me at Focus. A community of hard-working and fun-loving BI360 users came together to share and compare best practices, learn about the power of the product, and network with new and established connections alike. Frankly, it was really sweet – and felt more like the most productive and educational family reunion rather than a formal conference. This article will explore what unfolds at this annual event – and why it’s as successful as it is, but also what to expect from the 2017 edition.
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This article will focus on how what you should be looking for in the Best Performance Management Tools for Credit Unions.  
 
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What is Corporate Performance Management?  According to the Harvard Business School, performance measurement focuses on four main areas:

  • Communicate with external investors to ensure that a firms’ securities are fairly priced and that they are able to access capital
  • Measure and Evaluate a firms’ economic performance
  • Improve resource allocation and strategy implementation within a firm
  • Build Accountability for performance through effective external and internal governance

The emphasis of this article will be on improving resource allocation and strategy implementation, specifically for Credit Unions.  Though Credit Unions have evolved over time, their basic function is to take in deposits and reinvest those funds back into the community in the form of loans for such things as houses, cars, education, and infrastructure. Read more