ERP Software Selection Tips for a CFO

Chief Financial Officers hold a lot of responsibility to direct and oversee all financial activities of an organization, including investment prioritization, preparation of current financial reports, and providing forecasts for future business growth.

As a CFO, you need Enterprise Resource Planning software that allows you to analyze company operations and pinpoint opportunities and areas that need to be reorganized. Controlling costs and managing capital resources is a key part of your responsibility. As part of the core group of executives, you also contribute to core strategy and tactical planning sessions and need the numbers and reports to back you up.

You know that a business software system is much more than just debits and credits.

Timely, accurate information is the key to your success. Determining and measuring operational metrics is the key to planning and enforcing a culture of discipline and accountability within your organization.

Microsoft Dynamics® NAV helps chief financial officers gain significant competitive advantages and operational efficiencies. A CFO needs a system that can be quickly adapted to meet unique needs as well as provide key real-time operational data to capitalize on opportunities and exceed customer requirements.

Microsoft Dynamics NAV is a fully integrated ERP software system in use by over 100,000 customers worldwide. The product provides modular solutions for supply chain management, manufacturing, financials, human resources, payroll, job cost, fixed assets, equipment rentals, customer relationship management and service management.

Some of the more unique features available to assist you in your role as the chief financial officer include:

  • Real-Time Operations and Financial Data – Your information is as up-to-date as the last posted transaction. This allows operational and financial decisions to be made based on current data.
  • Consolidated Financials with Foreign Currency and Multiple Languages – International operations are much easier to manage and monitor.
  • Access to Dashboards and OLAP Technology – The Dynamics NAV real-time system with unlimited transaction history provides an excellent foundation for a number of available analytical tools, which can be used to provide key operating and financial metrics.
  • A Comprehensive System – The wide functionality allows a company to meet its needs right from marketing through to receipt of customer payments.
  • A Completely Integrated System – Never again will precious resources and time be wasted on trying to integrate a variety of third-party systems. Information is immediately available to all users. System upgrades become much simpler and allow you to retain any customizations.
  • Configuration to Fit Best Business Practices – Microsoft Dynamics NAV can be installed as an off-the-shelf system or be configured to fit best practices available for your organization.
  • Flexibility to Match Changes in Business Model – As any CFO knows, the only certainty these days is that there will be change. The flexibility and rapid application development nature of the Dynamics NAV toolkit means the system can quickly adapt to meet changes in your business model, whether small or large.
  • Low Total Cost of Ownership – The solution is priced as a mid-market package and saves significant amounts in the cost of the software, the initial implementation, and the ongoing software assurance program. Dynamics NAV provides the capability and power of many Tier One packages without the complexity and cost. Implementations are typically on time, on budget, on spec.
  • Guaranteed Software Investment From Microsoft – As the fastest selling Enterprise Resources Planning application from Microsoft, Microsoft Dynamics NAV continues to be enhanced with an annual release cycle. As long as a customer remains current on their annual software enhancement program, Microsoft guarantees a free software license upgrade to any new technology released in Microsoft Dynamics NAV.

See what CEOs are looking for in an ERP system.