Modernizing Financial Systems for a Theological Seminary: A Cloud Migration Success Story (Clone)
A theological seminary providing advanced education for future pastors faced challenges with their accounting and reporting systems. With a clear cloud strategy in mind, the institution decided to modernize its systems to enhance efficiency and scalability by totally adopting cloud-based solutions. Partnering with The TM Group (TMG), they implemented Microsoft Dynamics 365 Business Central, a cloud-based solution designed for small to midsized organizations.
The Challenge: Transitioning to the Cloud
The seminary had been using Microsoft Dynamics GP affectedly for many years, but had decided it was time to transition to a native cloud-based accounting system. While effective, Dynamics GP no longer aligned with their strategic goal of moving to the cloud. Their primary motivation was to adopt a scalable and flexible system that could support their growing needs while reducing reliance on legacy, on-premises software.
Additionally, the seminary had been using third-party tools such as Concur for processing payables invoices. With the transition to Dynamics 365 Business Central, they sought an integrated solution that would streamline operations and eliminate inefficiencies in their financial processes.
The Solution: Dynamics 365 Business Central Implementation
TMG guided the seminary through a smooth transition from Dynamics GP to Business Central, implementing core accounting modules such as General Ledger, Accounts Payable, and Accounts Receivable. They also replaced Concur with Bill.com, streamlining the payables process, and enhanced reporting by aligning Business Central’s features with the seminary’s existing reporting tools.
During the project, the seminary identified challenges with managing multiple bank reconciliations. Although treasury management wasn’t part of the original scope, TMG recommended and demonsrated the NIC Systems Treasury Management Suite. Upon review, the seminary felt this solution would allow them to more efficiently reconcile five bank accounts and added this solution to their implementation plans.
The seminary also chose to continue using their Microsoft Power BI-based reporting structure. To support this, TMG ensured Business Central could produce the necessary data. Because of their complicated existing financial models, the seminary decided to maintain their account-string-centric chart of accounts they utilized in GP instead of redesigning the chart to take best advantage of Business Central’s Account Dimension capabilities.
While this decision simplifies IT’s work for reporting, it does require some extras ongoing complexity for the finance team. To replicate their Dynamics GP setup, the seminary enabled 13 dimensions in Business Central, mirroring their six- or seven-segment account structure. This allowed them to maintain their detailed reporting approach within the new system.
The Impact: A Unified and Scalable System
The implementation of Dynamics 365 Business Central delivered significant benefits to the seminary. As a cloud-based system, it provides the scalability needed for continued growth without the constraints of legacy software. Efficiency was greatly improved by integrating Bill.com, which streamlined the payables process, eliminated redundancies, and enhanced accuracy. The transition also allowed the seminary to refine their reporting approach, gaining deeper insights into financial data and enabling more informed decision-making.
In addition, moving to Business Central aligned with the seminary’s broader cloud-first strategy, offering the flexibility and accessibility required for future expansion. A TMG team member emphasized that this project was about more than just adopting a new platform—it was about supporting the seminary’s vision for a modern, efficient financial system that advances their mission. Additionally, the seminary’s adoption of the NIC Systems Treasury Management Suite further streamlined their financial banking operations. With five active bank accounts and daily transaction activity, the client now benefits from the ability to import a single consolidated file from their bank each day. The Treasury Management Suite allows them to easily process and reconcile transactions across all accounts, significantly reducing manual effort and improving accuracy in their bank reconciliation process.
Partnering With The TM Group for Success
TMG’s expertise in Business Central implementations and tailored solutions proved invaluable to the seminary’s successful transition. By addressing their unique challenges and providing strategic guidance, TMG empowered the institution to modernize its operations while maintaining a focus on its mission.
This project underscores the value of a well-executed partnership. For organizations looking to navigate the complexities of cloud migration and system modernization, The TM Group offers proven solutions and a commitment to success.
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Is your organization considering a move to the cloud or seeking to enhance your financial systems? Connect with The TM Group today and discover how we can help you achieve your goals.
