Three ways to optimize your financial processes with Business Central
Using the right ERP solution affords your business lots of benefits – like cutting out manual processes, saving your team time and energy, and bringing all your financial management operations up to speed.
Business Central is a leading mid-market solution for businesses of all sizes that want their financial management software to do more for them – more automation, more collaboration between teams, more connected processes, and more insight into real-time data to make better decisions.
Simplifying financial routines is one of the biggest draws of an ERP, and Business Central comes fully featured with plenty of time-saving tools and modern additions that any team will appreciate.
Here are three Business Central features that will help your team optimize your financial processes:
Saving time with AP Automation
Accounts Payable is an essential financial process for any business or organization, and any feature that helps cut out manual routines is a huge time saving bonus for financial teams. Business Central handles Accounts Payable digitally and automates the routine to quickly free up more cash flow.
Bonus: Continia is an add-on solution for Business Central that takes care of administrative and financial tasks. Their AP Automation solution helps businesses streamline expense management and document hosting.
Document Capture is an invoice digitization tool that reads, sorts, and securely stores incoming documents to automate the invoicing process.
Expense Management allows for a quick and convenient expense tracking experience, with a mobile app that lets you keep tabs on company expenses and track payments on the go.
Role-based processes
Businesses with disconnected processes experience more disruptions and inefficiencies throughout the workday, and data siloes keeps teams on entirely different pages. Giving all users access to the same up-to-date data eliminates these data inconsistencies and bridges the gaps across your entire company.
Creating custom security roles assigns certain privileges to users – like if they have access to create and update records, or just access to view records – without gatekeeping the actual system functionality as a whole. Employee access can also be managed with pre-built security roles that are ready to use as-is or can be further customized for specific permissions. This is great for companies who want to keep teams connected but don’t need everyone having broad access to every single system module.
No more hung batches
Hosted in the cloud, Business Central is constantly refreshing and backing up to your server as you’re working, so all your data is saved as it’s entered. Transactions are automatically integrated to the General Ledger, and no manual batch processing is needed.
Companies using a legacy system like Dynamics GP should be uniquely thrilled about this prospect, as a stuck batch is the most common recurring issue that users face in GP. Stuck batches are usually caused by disrupted network connections or server issues. Less user downtime and system breaks are a major benefit of Business Central, and companies currently on Dynamics GP should consider moving on from this legacy system, and adopting a fast, reliable cloud solution.
Upgrading your GP system to Business Central is a great way to make the most of modern ERP technology at a fraction of the cost of implementing an entirely new solution from scratch.