How Microsoft Dynamics NAV is Changing The Finance Management Structure in The Market

In accordance to the changing undercurrents of the working environment, Microsoft Dynamics NAV 2013 comes with a standardized interface and functionality feature, specifically for financial management, which has been appreciated by business for its robustness and wide-aspect application.

So, what makes MS Dynamics NAV a must-have tool for high-end finance management? We look at some of the significant features that NAV provides, which small to mid-sized companies can leverage greatly for their enhanced functionality and smooth operation:

1. Cost Accounting

Measuring cost, at each and every step is a big and necessary task for each company, so as to utilize their resources efficiently and cause a profitable outcome. This feature provides comprehensive insight and visibility into the operational, departmental, project-base and product costs, along with extensive info on budgeting. It works by synchronizing general ledger and the cost information and passes the sourced information to cost objects and cost centers.

2. Forecasting cash flow

The cash flow forecast is a very helpful and efficient feature of MS Dynamics NAV 2013, which has greatly reduced the error from the earlier methods, along with enhancing the efficiency. This feature takes full control of analysis of the current cash position, along with providing insight into short-term cash flow. The monitoring of disbursements and cash receipts is an added advantage. The advanced interface of the feature to forecast cash flow for different time periods, along with delivering cash flow info through Role Center screens are highly useful features.

3. Responsibility Center

As the name suggests, this feature helps to tie a user to a responsibility center, so that it displays only that user-specific sale & purchase documents. This feature lets set up profit centers and sell items with specific prices.

4. General Ledger Table Locking Architecture

This feature allows for robust storage of data dimensions, along with enabling more users to simultaneously post their sale & purchase order at a given time.

Businesses are incorporating MS Dynamics because of its advanced and high-end offerings, opening up career opportunities for professionals who are well adept in the application with extensive Finance Advanced training.

In order to get maximum benefits from these features, the organizations need skillful professionals who have developed high-end knowledge through comprehensive Microsoft Dynamics course.