25 Aug 2020
Blog, ERP, TM Group News No Comments Permalink

How ERP Can Keep Your Supply Chain Buoyant in Troubled Economic Waters

August 25, 2020 No Comments

A healthy supply chain can be an anchor of stability and security when waves of economic uncertainty come crashing down. If anything was especially hard-hit when COVID-19 first struck like a tidal wave, it was this portion of business owners’ operations.

Regardless of a company’s size, supply chains worldwide felt the adverse effects. Purchased products that would typically package and ship the same day they were ordered, suddenly took several weeks to arrive and items that were already expected to experience shortages – such as toilet paper and cleaning supplies – were even harder to keep stocked than managers anticipated.

Supply chain management and ongoing optimization take a united effort and won’t be accomplished in one fell swoop. But enterprise resource planning software can help in this process by increasing visibility and leveraging data to provide better forecasting across your organization and its various departments.

As detailed by Thomas Insights, here are a few of the ways in which ERP can improve supply chain management so processes can be more streamlined, even in troubled waters.

  1. Improves customer satisfaction
    The customer is the be-all, end-all of any business. If the customer isn’t 100% satisfied with their product or service, no one else is either.

But you can improve the customer experience by fully integrating your ERP software into your current accounting system or replacing wholesale. Truly responsive ERP solutions come equipped with features and tools that allow you to gather intel on what your customers most want out of the items they buy or the services they need. That data can be used to inform how you produce goods and implement the processes that help to make it of a higher quality.

Put another way, the intelligence gleaned through ERP can be used to make products better by providing clarity into what the customer wants and where products are in the development phase. Pairing the information from customers with visibility during fabrication can help ensure manufactured goods are in line with expectations and delivered on schedule after identifying and clearing bottlenecks.

  1. Enhances efficiency
    If there’s one thing business owners have in abundance, it’s data. Even if they don’t have it at their fingertips, they certainly have the means of collecting it, whether through ERP software, customer relationship management programs or other more informal processes. The problem is this data can be easily lost or difficult to compile when it so often exists in its own separate silos.

ERP software solves this issue by gathering all the facts, numbers and details you’ve collected over time so that it’s all in one place. This more centralized database – whether on-premises or in the cloud – enhances time management and helps make sense of the data through analytics. Analytics can help you make smarter, more informed decisions about key business functions, including how the supply chain should operate and what steps are needed to enhance optimization.

  1. Makes inventory management simpler
    Inventory decisions depend on data; typically, the best predictor of purchase decisions is past behavior. Sales orders provide this information, but COVID-19 was unlike anything the world has experienced and created significant supply chain disruptions for retailers and their suppliers. To guard against future issues, General Mills plans to rely on more third-party manufacturers for development and reduce the length of time before shelves are restocked. The Wall Street Journal reported that the cereal and packaged goods giant plans to partner with 20% more food manufacturers than it had before the pandemic, according to John Church, the company’s chief supply chain management and global business solutions officer.

If you don’t have these types of resources or connections, ERP makes inventory management more precise through automated forecasting and tracking. Workers can use this intelligence to glean insight into what’s being consumed the most and at what pace, all on a real-time basis.

  1. Keep tabs on shipping
    Most business activities slowed down or paused altogether in March, April and well into May. But one thing that surged was shipping. Just ask the U.S. Postal Service, UPS and FedEx. With millions of people still working from home, the dramatic growth in shipping is expected to continue. ERP solutions help you stay on top of where shipments are on their route and the estimated time to arrival. Many software bundles also offer recommendations on which shipping method to use depending on your needs, whether it’s speed, affordability, safe arrival or all three.

Don’t let the aftereffects of the coronavirus crisis sink your supply chain. Microsoft Dynamics 365 will help ensure it stays buoyant. Contact The TM Group for more information on integration.

 

—

Sources

https://www.thomasnet.com/insights/erp-supply-chain/

https://www.wsj.com/articles/general-mills-adds-more-outsourcing-partners-as-it-aims-to-meet-packaged-food-demand-11595842200?mod=searchresults&page=1&pos=6

https://www.sdcexec.com/software-technology/press-release/21139873/mhi-new-report-predicts-coming-transformation-age-for-supply-chains-as-covid19-accelerates-adoption-of-digital-and-automated-solutions

18 Aug 2020
Blog, ERP, Microsoft Dynamics 365 Business Central, Project Profile Dyn 365 Customer Engagement (CRM), Project Profiles, TM Group News No Comments Permalink

Energy Management Consultancy Sees the Light with Microsoft Dynamics 365 Business Central, CRM, Power BI

August 18, 2020 No Comments

The Client
A lighting and energy consulting company that specializes in servicing storefronts with high-efficiency technology. These systems are designed to help businesses save money on the cost of utilities.

 

The Challenge
More than anything else, this client struggled with visibility, in terms of data collection, tracking expenses, and cataloging various work orders. For several years, it had primarily relied on Microsoft Excel spreadsheets for tracking data and changing it whenever necessary. This created time management problems and issues with accuracy.

 

The company also ran into difficulties related to reporting and tracking some of their supply chain and inventory management processes. For example, many of its products were delivered by drop shipping. In this situation, the client would order directly from the vendor and drop ship from there, but its purchase tracking methodology made knowing which purchase orders had been shipped and which ones hadn’t difficult to follow. That led to its own time management and efficiency issues.

 

The Solution
The TM Group recommended a personalized Microsoft Dynamics 365 customer relationship management (CRM) and enterprise resource planning (ERP) solution. For reporting, TMG recommended Microsoft Power BI. Having been released more than nine years ago, Microsoft Power BI is now an industry leading solution for business analytics because it helps users perform a deep dive into their data to gain greater insight.

 

A lot of this client’s challenges as it pertained to reporting on drop shipment were resolved through Power BI. This was done by increasing visibility into when purchase orders were shipped so the client could get invoices out to customers on time. This helped with cash flow and made reporting faster and more streamlined.

 

The two Microsoft solutions we personalized for the client were Dynamics 365 Business Central and Microsoft Dynamics 365 for Customer Engagement (CRM). The CRM solution is ideal for tracking leads. This client wanted a single point of entry when accessing and inputting data on potential customers. By integrating CRM with BC, it was able to enter contact information on leads, which could then be pushed over to BC once the leads became actual customers. Prior to the integration, the client had to type in the contact details more than once, first for lead tracking, then again for customer tracking. Data entry and visibility were improved dramatically with CRM and BC functioning as a unit.

 

Another aspect of business management this company was able to improve was in terms of profitability. The manual processes it was using before through Microsoft Excel made financial reporting more complicated than it needed to be and more at risk for errors. BC and CRM dramatically enhanced financial visibility by allowing the organization to create their own customized dashboards to track particulars like cash flow, cash cycle, and revenue forecasting. Additionally, Microsoft Power BI further enhanced financial reporting and metrics.

 

Before the implementation, this client was relying on a very ad-hoc, undefined strategy for data entry and reporting, using outdated software and inefficient workflows that were tedious, time-consuming, and confusing. TM Group set the firm up with a common business process and platform that was uniform.

 

Users had been going about accounting and reporting in a haphazard fashion that was unsustainable. Because it had been this way for so long, recommended workflows had to be reconfigured several times before arriving at the correct solution. This speaks to The TM Group’s commitment to ensuring the Microsoft Dynamics 365 Business Central and Customer Engagement based solution is designed with the company’s reporting and tracking needs top of mind.

 

From field service to family office management, professional services to foundations, manufacturers and member associations, The TM Group has performed well over 1,000 implementations and helped hundreds of companies do more with their data by installing a personalized Microsoft Dynamics solution. We have the knowledge, energy, and experience to give your company the system tools and capabilities you need to become more efficient, more productive, and potentially more profitable. Contact us today to learn more.

 

Sources

https://www.youtube.com/watch?v=3DePiy13ngA

https://dynamics.microsoft.com/en-us/business-central/accountants/

https://dynamics.microsoft.com/en-us/crm/what-is-crm/?&ef_id=EAIaIQobChMI6-HYo-Xt6gIVQuG1Ch0QRAQ3EAAYASAAEgI5JfD_BwE:G:s&OCID=AID2100366_SEM_EAIaIQobChMI6-HYo-Xt6gIVQuG1Ch0QRAQ3EAAYASAAEgI5JfD_BwE:G:s&gclid=EAIaIQobChMI6-HYo-Xt6gIVQuG1Ch0QRAQ3EAAYASAAEgI5JfD_BwE

 

11 Aug 2020
Blog, Microsoft Dynamics 365 Business Central, Project Profile Dyn 365 Business Central (NAV), Project Profiles No Comments Permalink

Trade group gets more than it bargains for by switching to Microsoft Dynamics 365 Business Central

August 11, 2020 No Comments

The Client

A manufacturing trade organization based in the Midwest, which holds sponsored events for members to attend throughout the year.

 

The Challenge
For many years, this client was successfully using Microsoft Dynamics SL, the enterprise resource planning software system that is primarily geared for small and medium-sized businesses and projects driven organizations. While effective, it lacked the functionality and remote access that the client truly wanted. Thus, they were looking to leverage the capabilities of Microsoft’s most recent cloud-based ERP solution, Microsoft Dynamics 365 Business Central. Yet because the client wanted six of its member companies to transition from SL to BC, completing the migration entirely on its own proved impractical, even though its personnel had handled some of the legwork already.

 

The Solution
As a certified partner of Microsoft Dynamics software for nearly 20 years, and a full-service provider of software applications since 1984, we at The TM Group were happy to provide some support and expertise on the Business Central transition project.

 

Over the years, The TM Group has performed literally thousands of ERP and customer resource management implementations, many of which were quite exhaustive and had to be built from the ground floor. That wasn’t the case with this client. Even though the migration involved six different legal entities, a good portion of the migration work that we would normally do was handled by the client manually, due in part to the fact that they had only been using basic functions like GL, AR and AP. This allowed us to provide more insight on some of the capabilities that Business Central offers that go well beyond cloud computing, which was the client’s main rationale for wanting to upgrade.

 

For instance, one thing that this client really needed was greater visibility into all the events that they were hosting for their members. Microsoft Dynamics 365 Business Central makes this possible through built-in Power BI dashboards and the projects module that track and report on a variety of data points the client would presumably need for planning. These include inventory, sales, accounting, transactions and cost analysis for holding their events, both in terms of actual costs versus forecasted. Microsoft Dynamics SL had some of these capabilities which had never been implemented, but because Business Central is web based and more full featured, it offered a smoother, more streamlined interface that makes tracking easier and more manageable.

 

Whether you’re upgrading from an older Microsoft Dynamics product, a rival ERP program or are looking to implement enterprise resource planning for the very first time, The TM Group has you covered. We’ll handle every single aspect of implementation and help you optimize your operations through innovative, data-driven solutions. Contact us today.

 

Source
https://dynamics.microsoft.com/en-us/business-central/capabilities/

https://www.youtube.com/watch?v=ZIi-A8XpxEQ

 

04 Aug 2020
Blog, ERP, Microsoft Dynamics GP, TM Group News No Comments Permalink

Microsoft Dynamics GP Picked as a Leading Accounting Software Program

August 4, 2020 No Comments

In a day and age where everything seems to be about finding the next big thing, Microsoft Dynamics 365 has understandably received the lion’s share of media attention within the information and computer technology space.

 

It’s little wonder why, both the enterprise resource planning platform and customer relationship management version offers incredible visibility and flexibility for business owners.

 

But Microsoft Dynamics GP – the predecessor to 365 – is still around and continues to receive rave reviews from the likes of 360Quadrants, which recently named the accounting software as being among the very best for small and mid-sized enterprises.

 

In mid-June, Microsoft Dynamics GP was selected as an elite accounting management software system for SMEs, with the publication pointing specifically to the platform’s ability to help business owners and managers make better decisions about how their companies should operate by making data-driven insights easier to interpret, collect and analyze.

 

“Microsoft Dynamics GP helps businesses optimize cash flows and monitor financial parameters efficiently,” 360Quadrants stated in announcing its results. “It has inbuilt analytics for analyzing and delivering real-time insights for better decision making. It helps organizations track critical metrics and digs deep into each transaction to help ensure metrics are in a good state.”

 

The website, which primarily focuses on reviews and ratings for various online and computer-based products, also noted that the automated capabilities of Microsoft Dynamics GP make time management easier by systematizing routine financial processes, so they don’t have to be done manually.

 

How did 360Quadrants arrive at its findings?

Earlier this year, 360Quadrants performed a comprehensive review of more than 80 accounting software products, including Workday, AlignBooks, Mint, NetSuite, Xero, Zoho, FreshBooks and SAP Business One. It then narrowed down the field to the top 25, basing its decisions on which were the very best through the following scoring methodology, some of which involved answering close-ended questions:

 

  • Does the accounting software leverage an algorithm to collect inputs from key stakeholders based on criteria for product maturity and company maturity?

 

  • Does the product maturity feature functionalities, differentiation, and depth of service in comparison to others?

 

  • Does the product provide measurable customer value?

 

  • Over 90 “in-depth” parameters used in evaluation for each accounting software system.

 

  • Weights are assigned to criteria by level of importance, as determined by the industry experts, buyers and 360Quadrants analysts judging the accounting software products.

 

These measures were complemented with extensive secondary research, annual reports, white papers and reviewal of relevant databases and directories.

 

Once the top accounting software programs are officially announced, the best of the best will be categorized accordingly. For example, some of the categories include “Emerging,” “Visionary Leaders,” “Innovators” and “Dynamic Differentiators,” among others.

 

What is the history of Dynamics GP?
Originally created by Great Plains Software, which was purchased by Microsoft in 2000, Microsoft Dynamics GP is a trailblazer in the accounting software space. It was the very first multi-user version to run on Microsoft Windows 32-bit. It’s been through several iterations since it was first released in June 2007 and has evolved to become a web-enabled application. The current installment is called Dynamics GP R2, released to the public in October 2018.

 

With the launch of Microsoft Dynamics 365 CRM/ERP solutions – some have questioned whether Dynamics GP will be discontinued. As reported by Encore, GP R2 is expected to receive software updates until January 2023 and will also have extended support through at least 2027.

 

Although Microsoft is not making Dynamics GP available as a cloud solution, Njevity has launched the Power GP solution which is essentially GP in the cloud with some functional enhancements. This has been a very popular solution for GP clients which want to move to the cloud but prefer to stay on the familiar and functionality rich GP solution.

 

Highly in-demand accounting skills can be difficult to come by for business owners these days. According to a 2019 poll by Robert Half Finance, 86% of chief financial officers cited business analytics as a key capability for people in finance and accounting-related occupations.

 

Steve Saah, Robert Half executive director, noted that the degree to which big data is leveraged by organizations of all sizes makes it clear that business analytics skills isn’t a flash in the pan.

 

“Neither the demand for technology skills nor the lack of them available is going away soon,” Saah predicted. “By providing professional development on new and emerging tools, companies can upskill their existing teams and make themselves more attractive employers.”

 

One of the more popular modules on Microsoft Dynamics GP is project accounting. Aside from tracking as many contracts and projects as you need in real time, it also allows you to create a client database. You can also connect project activities so they’re in keeping with your company’s timeline and budget.

 

Microsoft Dynamics GP is a game-changing ERP software. If you’d like to see for yourself what all the buzz is about, The TM Group will be happy to set it up for you or give you a rundown of how it works. Contact us today.

 

https://www.marketwatch.com/press-release/microsoft-dynamics-gp-to-be-listed-as-a-top-accounting-software-on-360quadrants-2020-06-12

https://www.whatech.com/market-research/financial-services/656720-microsoft-dynamics-gp-to-be-listed-as-a-top-accounting-software-on-360quadrants

https://msdynamicsworld.com/story/my-predictions-microsoft-dynamics-gp-2020

https://en.wikipedia.org/wiki/Microsoft_Dynamics_GP

https://www.360quadrants.com/about

http://rh-us.mediaroom.com/2019-08-22-Survey-Finance-Leaders-Report-Technology-Skills-Most-Difficult-To-Find-When-Hiring

https://www.encorebusiness.com/blog/your-dynamics-erp-path-forward-gp-nav-business-central/

29 Jul 2020
Blog, TM Group News No Comments Permalink

How Teamwork Turned a Face Mask Shortage into a Surplus

July 29, 2020 No Comments

Once primarily worn in health care settings and where breathing conditions are poor, the face mask has become as ubiquitous as the smartphone. Suddenly, everyone seems to own one. More people donning them is in response to the novel coronavirus, as the coverings help to minimize the spread of the disease, which health experts believe is primarily spread by airborne transmission.

 

While omnipresent today, face masks were fairly hard to come by when the pandemic first emerged, impacted by supply chain disruption and growth in health care workers using them to treat patients with the disease without themselves becoming infected.

 

However, thanks to volunteers and grassroots community involvement, critical shortages in personal protective equipment were resolved. We’re proud to say that The TM Group’s Kiki Hall took part in one such effort earlier this year, which potentially saved an untold number of people from coming down with the highly contagious disease – and potentially spreading it to others whose health may be compromised.

 

It all started back in March, when Kiki learned that a good friend of hers – Tanya Thomann, whose day job involves teaching at a Detroit public school – was putting together cloth masks. Tanya has a passion for knitting and runs her own company called MayBea Crafted. Most of what Tanya specializes in is winter hats and knitting bags, but after seeing that many of the children she taught didn’t have access to facial coverings, she decided to lend a hand. Kiki offered to help.

 

“Because she is a teacher in Detroit, she saw the disparity between the city and the suburbs in terms of how little some have,” Kiki said, who works as a consultant at The TM Group. “[Tanya] realized that some of the material she didn’t use she could use for her class and their families.”

 

Do cloth masks work?
Facial coverings come in a variety of materials, with the most effective being medical grade, or N95. These masks are typically made from synthetic plastic.

 

While cloth masks typically don’t capture as many particles as those worn in health care settings, several studies have shown them to be more effective at reducing the spread of disease when worn correctly and responsibly. More than 85% of Americans say they have used a face mask at least once within the past week, according to Gallup polling. More companies are mandating their usage, especially when social distancing isn’t possible.

 

Kiki pointed out the cloth masks she and other volunteers put together used multiple pieces of quilted fabric for this project, with each mask also getting a piece of vinyl.

 

Leveraging word of mouth and social media, Tanya put a call out to friends and followers, asking if others would be able to provide some assistance in her efforts, whether in terms of donating materials, washing the cloth or cutting it for fabrication, Kiki noted. Tanya also put together kits so those who had sewing machines and wanted to make some themselves could do so.

 

“The kits were right on her porch for anyone who wanted them could come pick them up,” Kiki explained. “She herself made over 1,000 masks as well as some of the people to give to places where there were vulnerable people.”

 

Project led to over 7,000 cloth mask donations
Kiki noted that Tanya also received more than enough cloth, as a friend donated a van that was full of material, all of which could go toward the project.

 

“Between the people who sowed for her, how many that she sowed and the mask kits themselves, [Tanya] was able to provide masks to people who could not buy them, which at the time was well over 7,000 masks,” Kiki said. “It was a big group effort by a lot of people, mostly those whom she knew through Facebook or the knitting guild that we both belong to. Everyone came together.”

 

Kiki also took part by sewing masks with the kits Tanya provided. Once they were finished, she gave them away to people who worked where her two kids are employed. She also had them sent to nurses in Colorado, who could then hand them out to people who were inside the hospitals but without masks.

 

If there is anything Tanya is especially grateful for, it’s the all-hands-on-deck response that she got when asked if anyone was willing to help her out, as well over 30 people participated in some way.

 

“I think people want an opportunity to help,” Tanya told regional television station Local 4. “I think people want to be able to be of service, but we just don’t often know how. We need someone to tell us how we can plug in. Within hours, people started showing up to take garbage bags full of fabric home with them.”

 

With masks more easily available these days, the project has since died down, but Kiki noted it may pick back up again should there be another shortage and cases surge.

 

We’d like to thank Kiki, Tanya and everyone who participated. When people collaborate and coordinate in a common cause, problems become solutions.

 

Sources:

https://news.gallup.com/poll/313463/mask-worry-lack-social-distancing.aspx

https://www.clickondetroit.com/community/2020/05/08/a-small-action-repeated-makes-a-large-impact-dpscd-teacher-makes-masks-for-frontline-workers/

22 Jul 2020
Blog, Project Profile GP, Project Profiles, TM Group News No Comments Permalink

Growing wealth management firm seeks reporting, consolidating assistance

July 22, 2020 No Comments

The Client Situation

Although this single family office (SFO) organization is relatively new, many of its internal processes were being run on legacy software products inherited from their “parent” organization, making it difficult to seamlessly report and consolidate large quantities of real-time data. For example, the company first had to export source data from several disparate systems for their financial reporting and consolidation processes. While the process was never convenient, it was manageable  at the outset when the firm had only a handful of members, companies and investments. As the company’s scope and complexity has grown, the old way of doing things became unsustainable.

 

The Suggested Solution

After first attempting to solve this issue internally, the SFO firm reached out to TM Group, which offers software-driven business solutions that empower organizations and people with technology in a variety of industries, including family offices.

 

After getting a better understanding of the company’s goals, TM Group (TMG) recommended replacing QuickBooks – the company’s former accounting tool – with Microsoft Dynamics GP. A web-enabled, mid-market business accounting and enterprise resource planning (ERP) program, Dynamics GP was originally released in 2007 and enables mid-sized businesses to gain greater insight, productivity and visibility into their business  processes.

 

TMG suggested Dynamics GP for these purposes in addition to Solver Reporting, Budgeting and Data Warehouse to better address the company’s pain points related to data consolidation and analysis. This enables the SFO firm to not only better manage data , but also to produce more accurate reports including adjustments for percentage of ownership for managed entities..

 

TM Group also  recommended Binary Stream’s Multi-Entity Management as an add-on application to Dynamics GP. This program allowed the SFO firm to streamline data entry and reporting rather than managing more individualized, entity-specific spreadsheets and other disconnected systems as done previously. With Microsoft Dynamics GP, Binary Stream’s Multi-Entity Module and Solver, the business’s financial and operational reporting could become more automated and less subject to error. eOne SmartConnect for integrations and Nolan Advanced Bank Reconciliation were also recommended and implemented.

 

The Result

Today, several months after making the transition from QuickBooks to the Microsoft Dynamics GP based solution, complex consolidated financial statement reporting and ad hoc reporting has become quicker and more comprehensive. The former QuickBooks solution and multiple non-integrated systems the SFO firm was using were not only limited in terms of visibility and leveragability, they were also highly labor intensive. This prevented the company from expounding and extrapolating on data. With Dynamics GP, Binary Multi-Entity and Solver, the firm and its members can now better interpret data  and apply it to their financial goals. Furthermore, Dynamics GP and Solver offered solutions for other services the firm provides, such as loan management, flight tracking and  and other inter-entity transactions. In lieu of manual spreadsheets, Solver provided the family office with enhanced flexibility and speed by automating  comprehensive report generation.

 

In short, the significant time commitment formerly dedicated to manual report generation is now spent on valuable analysis, planning and decision making.  The ease and simplicity of the tools and features available through Dynamics GP and Solver makes reporting faster, more accurate and actionable.

 

Since 1984, The TM Group has helped hundreds of organizations in a variety of different industries including family offices to improve their financial and operational management as well as enhance their reporting capabilities by utilizing Microsoft Dynamics ERP and customer resource planning (CRM) software. From associations and suppliers, to retail and hotels, you name the industry, TM Group has provided companies of all sizes to transform weaknesses into strengths and accomplish the greatest of challenges. Contact us to learn more.

 

15 Jul 2020
Blog, Microsoft Dynamics 365 Business Central No Comments Permalink

Terrible ‘Toos’: The Biggest Misconceptions of Upgrading Dynamics NAV to Dynamics 365 Business Central

July 15, 2020 No Comments

Ever since the Microsoft Dynamics family of products was first introduced, it’s been in a constant state of reinvention and innovation. The latest iteration is Microsoft Dynamics 365 Business Central, its predecessor being Dynamics NAV which was branded Navision when Microsoft acquired it in 2002. BC/NAV/Navision has proven to be Microsoft’s most popular version of ERP with more than 110,000 companies using it worldwide.

 

Content with its capabilities and familiar with its interfaces, many business owners are reluctant to upgrade to Business Central, given the time and labor-intensive nature of implementation and data migration. In other words, the doubters wonder whether the advantages of Business Central are so significant as to make the effort worthwhile.

 

As a proud Microsoft partner for over 20 years, we at The TM Group have heard many reasons for why companies are hesitant to upgrade Dynamics NAV to Business Central. More often than not, their rationales might better be described as “irrationales.”

 

Here are a few of them, along with an explanation as to why they’re off-base:

 

  1. My current Dynamics NAV is too customized to start over

The beauty of Microsoft Dynamics products is it’s fully scalable and customizable. Whether your company has well over 1,000 employees or no staff whatsoever, NAV is an enterprise resource planning software that molds to the size and needs of your company, regardless of your industry. In fact, tailoring Dynamics to a customer’s specific business processes is what we do at The TM Group.

 

But just because you can program NAV to the one-of-a-kind needs of your firm does not mean you’re stuck with that framework in perpetuity. In fact, many of our customers have determined that many legacy customizations are actually not needed anymore because the business processes have changed or the functionality is now included in the Dynamics 365 Business Central system. The TM Group can help you with the process of evaluating if upgrading NAV and it’s legacy customizations or starting fresh makes the most business sense by getting an understanding of your needs during an Implementation Planning Study, which allows us to determine what data to transfer to Business Central and the best project approach.

 

  1. My database is too big
    This is one that we get quite a bit, especially from customers that have used NAV for many years. As time marches on and businesses grow and evolve, data proliferates. The idea of transferring it all upon an upgrade to a new ERP can seem like a significant feat. According to estimates from IDG, more than half of the data the average organization in the U.S. uses derives from internal processes. When combined with external data, the typical firm manages over 163 terabytes of data.

 

Since Microsoft Dynamics 365 is cloud-based, there really is no such thing as too much data to transfer. There may be instances where the data you’re currently storing is no longer necessary. The TM Group can help you determine what information is no longer necessary, duplicative or superfluous, thus making the integration process faster and more cost-efficient.

 

  1. The Dynamics NAV version I have is too old

Depending on when you began using or switching to Microsoft Dynamics NAV, you know that the solution has been through several renditions over time. In fact, prior to its most recent update to Business Central, there were at least 18, tracing all the way back to Navision Financials 1.00.

 

It’s highly unlikely you have the original, given it came out more than 25 years ago, but even if you have something as legacy as NAV 3.60, it isn’t too old to upgrade or transition to Microsoft Dynamics 365 Business Central. NAV 3.60 debuted in 2002, which by consumer technology standards, qualifies as ancient.

 

  1. Upgrading NAV to Business Central costs too much

Among the most appealing aspects to ERP technology is that it provides a lot of flexibility in terms of how you manage and maintain insight into your company’s ongoing affairs. The cost structure works the same way. In other words, the extent to which you’d like to customize your solution can help you decide which plan to choose. For example, the Dynamics 365 Business Central Essentials package’s regular retail price is $70 per user per month, Dynamics 365 Business Central Premium is $100 per user per month and Business Central Team Members is just $8 per user per month. However, those Microsoft Dynamics NAV customers that have kept current on their software’s enhancement program can actually currently get up to 60% discount on the subscription cost for the Business Central cloud version.

 

In short, D365BC is designed to work for every business and every budget.

 

  1. Doing an upgrade will take too long
    What qualifies time as “too much” or “too little” is really all in the eyes of the beholder. If your current management processes aren’t working, the time you invest in fixing them through Microsoft Dynamics 365 Business Central is well worth it, no matter how long it lasts.

 

By working with us at The TM Group to handle the migration, you may be surprised by how quickly we can do the transition. It’s impossible to say how long it will take, but we can guarantee it will be done much faster than by going it alone. Plus, you must think of the long game. Because you can access all of your data from wherever you are via the cloud through Business Central, you have more freedom of movement and can get more work by accessing data from anywhere. With NAV implemented on premise, you’re confined to wherever your servers are located.

 

There’s no time like the present to make the upgrade. Let us do the work for you. Please contact The TM Group today to get started.

 

Sources

https://cloudrelia.com/5-misconceptions-about-a-dynamics-nav-business-central-upgrade/ (client-provided)

https://simplanova.com/blog/top-5-microsoft-dynamics-nav-upgrade-myths/

 

 

08 Jul 2020
ERP, Project Profile Dyn 365 Business Central (NAV), Project Profiles, TM Group News No Comments Permalink

Aerospace engineering firm finds simplicity with Microsoft Dynamics 365 Business Central

July 8, 2020 No Comments

The Client
Headquartered in the Southwestern United States, this engineering services company specializes in providing quality testing for a variety of companies within the aerospace industry. Since 2000, the company has also designed and retrofitted control panels for airplane cockpits, among other signature solutions.

 

The Problem
With a growing portfolio of well-known customers, this client had in a way become a victim of its own success from a standpoint of tracking jobs and maintaining visibility into their ongoing projects.

 

Prior to approaching us at The TM Group, this client was using Quickbooks to keep assignments organized and a running tally on expenses for each job. While this software worked fairly well for several years, the company’s growing book of business made it clear that the inefficient, piecemeal process involving spreadsheets and manual entry was unsustainably inefficient.

 

The Solution
After learning more about their job management and billing processes and goals, The TM Group recommended Microsoft Dynamics 365 Business Central as an alternative to Quickbooks.

 

Designed specifically for small to medium-sized businesses – much like this client, which maintained a staff of about 100 people – Microsoft Dynamics 365 Business Central is a comprehensive business management solution that helps increase visibility so everyone involved with a project stays on the same page.

 

Once we provided a brief snapshot of how the enterprise resource management bundle would help their company improve workflows, we went about the work of replacing Quickbooks with Business Central. This enabled the client to avoid the back and forth related to updating spreadsheets, so they had a single source for inputting, cataloguing and reviewing important project data, all done though the Project Management module.

 

The Result
Any change in process takes employees some time for acclimation, but the gains in project management were almost immediately identifiable with this project. The company no longer had to run-around using various piecemeal methods of data entry, as Microsoft Dynamics 365 Business Central streamlined tracking so it was housed within one program. This helped the company save time and eliminate waste.

 

Since our founding, The TM Group has helped hundreds of organizations become better versions of themselves both in process improvements, quality of operations and better decision making. We can help your company reach its potential as well. Please contact us today to learn more.

 

30 Jun 2020
Blog, ERP No Comments Permalink

Busting 4 Major Myths About ERP Software

June 30, 2020 No Comments

What is the single most important aspect of running a business in today’s day and age? Is it ensuring the customer is always satisfied? Does it have to do with supply chain management and its ongoing success? Or should it be related to efficiency and ensuring that productivity is maximized?

 

Enterprise resource planning helps organizations large and small accomplish all of these mission-critical aspects to success and growth. With a variety of software solutions to choose from – including the gold standard, Microsoft Dynamics 365 Business Central – ERP grants businesses with the capability to increase their visibility into every single operational aspect of their company so leaders can make smarter, more informed decisions.

 

Yet with change being what it is – inherently difficult, more so for some than others – millions of companies have yet to jump aboard the ERP train. Their reticence may be informed by misconceptions about this technology, of which there are many.

 

To once and for all set the record straight, here are a few of the most common myths about ERP systems and where the truth actually lies:

 

Myth No. 1: ERP installation and implementation is expensive
The beauty of ERP solutions lies in their set-up and configuration to a customer’s specific requirements. In essence, when your company is set up in terms of various back-office functions and systems, ERP can be adjusted to best fit your unique business situation. The problem here is, ERP is highly technical in nature and configuration may need to be handled by a professional, which costs money. Purchasing the licenses, as well as the services of an expert team to handle installation, can seem like a significant investment.

 

However, ERP software is not one-size-fits-all. You can purchase only certain modules if you so choose. For instance, Microsoft Dynamics 365 is sold has functional suites. Applications include:

 

  • Accounting & Finance
  • Manufacturing
  • Sales & Marketing
  • Customer Service
  • Field Service
  • Project Services Automation

The TM Group will work with you, so you only select the modules that align with your needs. Whatever your budget is, we can offer a package that is within your company’s financial means without compromising on quality.

 

Myth No. 2: ERP only makes sense for large organizations
When you think of this term, big business undoubtedly immediately comes to mind. But if you look up the word in the dictionary, enterprise is synonymous with business and has nothing to do with its size.

 

While it is true that in the early days, ERP software was primarily leveraged by major corporations, often with an international presence, that is no longer the case. Again, because ERP solutions are fully configurableable and scalable, they’re sold by user which allows the solution to scale for larger organizations as well as be affordable for smaller organizations. Designed to meld to the needs and structure of the company, ERP solutions can actually benefit smaller companies even more than large enterprises because the all-in-one capabilities of these solutions lend themselves well to environments where employees have many functional “hats” to wear.

 

Furthermore, ERP software is industry-agnostic. Whether you’re in manufacturing, retail, accommodations, healthcare, field service, educational institutions or virtually any other, Microsoft Dynamics 365 Business Central is built to help any organization in any sector succeed. No matter your industry, The TM Group can help.

 

Myth No. 3: ERP implementation takes forever
The time it takes for ERP solutions to go into place is yet another aspect that is greatly exaggerated. Just as every business is unique, the same goes for every ERP implementation. In short, how long it takes depends on a variety of aspects. These include how many people will be using the system, the size of the company (generally, the smaller the business, the less time required), availability of resources and the amount of data that must be migrated. For larger implementations, a phased go-live approach to various functional areas or locations may allow the realization of quicker benefits from the investments in a new ERP system while the project continues to be rolled out organization wide.

 

The TM Group specializes in CRM and ERP implementations and will hold planning meetings with your team so you know exactly what the process will entail and how long you can expect it to last, barring any unforeseen circumstances.

 

Myth No. 4: ERP and CRM are one and the same
Given that they’re different abbreviations, one would think that enterprise resource planning and customer relationship management are easily discernible from each other. However, many people operate under the assumption that if you have one, obtaining the other is redundant.

 

While both software programs include many similar functionalities – such as invoicing, data management and order fulfillment – they have more contrasts than likenesses. For starters, ERP is more inclusive and helps with planning and the ongoing management of a company from an operational standpoint. CRM is more specific to dealing with customers. In short, whereas CRM supports efforts that are in front of the camera, ERP handles business tasks that are more behind the scenes.

 

However, these bounds are blurring as CRM and ERP vendors are rounding out their offerings to include both back office and front office components. Microsoft even removed the CRM acronym from their product names. This can be confusing when both Microsoft Dynamics 365 CRM and ERP suites contain redundant functional areas like field service and jobs. However, The TM Group would be happy to help yor company best configure a Microsoft Dynamics solution for your company. Since our founding in 1984, we’ve helped thousands of organizations reach new levels of efficiency. Contact us today to learn more.

 

Sources:

https://medium.com/@apwiz.solutions/common-myths-about-enterprise-resource-planning-erp-busted-5cfc457fd76a

 

http://www.winman.com/blog/9-common-misconceptions-of-erp-software

 

https://www.brainsphereit.com/myths-about-erp-software/

 

https://www.planettogether.com/blog/5-misconceptions-about-erp-systems

 

 

https://www.cio.com/article/3253564/crm-vs-erp-whats-the-difference-and-which-do-you-need.html

23 Jun 2020
Blog, CRM, ERP, TM Group News No Comments Permalink

Why you shouldn’t delay tech upgrades amidst economic slowdown

June 23, 2020 No Comments

 

The coronavirus crisis has forced businesses of all sizes and all types to make some extremely difficult decisions. Because of the economic shutdowns and resulting economic slowdowns many of these hard choices have been financial in nature, as conglomerates, corporations and small-business owners have slashed budgets and dramatically cut their staffing. Indeed, in as little as two months, 36 million people throughout the U.S. have filed for unemployment benefits, according to figures from the Department of Labor.

 

Furthermore, due to the sudden loss in revenue and earnings, some organizations are opting to table certain investments, such as tech and system upgrades. But according to economists and academicians, doing so may be a mistake. In fact, times like these could be as good a period as ever to implement projects designed to help a company operate more efficiently.

 

Late last month, chocolate manufacturer Hershey’s announced during an earning call that it planned to delay its highly anticipated enterprise resource planning installation, CIO Dive reported. More specifically, The Hershey Company CEO Michele Buck said it would “selectively pause,” the major elements of the implementation until 2021.

 

“We will continue to advance the finance and data work stream efforts of our ERP project, while we delay supply chain and order-to-cash efforts,” Buck explained, as quoted by CIO Dive.

 

In doing so, Hershey’s Senior Vice President and Chief Financial Officer Steve Viskuil said the company’s capital spending for the fiscal year will stay somewhere between $400 and $450 million, well shy of the $500 million that was projected when 2020 began.

 

Avoid issues associated with downtime

Of course, financial and operational decisions are entirely those of management, executives and shareholders. But according to a professor of finance from the University of Pennsylvania’s Wharton School of Business, if there is anything that ought to be reinforced during below-average sales periods or recessions, technology is on the list.

 

“It’s logical to use the recession to upgrade software and production facilities,” Professor Nikoai Roussanov told CIO Dive in a recent interview. “The opportunity cost is lower because you’re less likely to be able to take productive resources offline at a time of higher demand.”

 

ERP implementation is a classic example. While ERP solutions can – and do – go into place while an organization is experiencing its busy season, vendors and implementation experts have more breathing room to ensure that ERP bundles are installed properly and seamlessly during down periods.

 

Tech enhancements on the chopping block

Although Roussanov and other scholars note that it’s intuitive to invest in technology during slow business cycles, upgrades are frequently viewed as expendable because delaying them can help to lower costs, at least in the short term.

 

Software insights company GetApp reported based on its findings that more than 45% of small- and mid-sized businesses intend to push back or slash their investments in software. The share of companies that intend to delay their spending in tech is even higher among enterprises, with 53% indicating as much. An additional 25% said they planned to reduce the amount of money put toward digital transformation initiatives.

 

Forrester Vice President and Principal Analyst J.P. Gownder told CIO Dive that during the Great Recession, software-as-a-service felt the adverse effects of the economic downturn, as sales and installations slid.

 

“But the problem is when you do this, you can create discontinuity that sets you back,” Gownder warned. “If you started a move to the cloud, and then you say ‘we need to cap usage,’ you don’t know what downstream impact you’ll face.”

 

In other words, the mere fact of not acting on a certain project is a decision unto itself, which can ultimately lead to unintended consequences.

 

Growth in remote work
On the flip side, COVID-19 has in some ways resulted in new opportunities for organizations to maintain or even increase productivity while lowering operational costs. For example, because many offices nationwide were compelled to close to contain the spread, remote work rose exponentially. Many employees accustomed to their daily commute were suddenly working from home exclusively. However, polls show that Americans overwhelmingly enjoy this set up, as nearly 75% of respondents in a recent Robert Half poll said they intend to telecommute more frequently, even long after the stay-at-home advisories are lifted. This was especially true among parents, nearly 80% of whom said they planned on telecommuting more often moving forward.

 

Because today’s newest ERP solutions are cloud-based, they can make remote work a reality for more organizations by enabling employees to perform many of the same tasks that they normally do from the office from anywhere, so long as they have an internet connection.

 

If ERP software is something you’ve considered but are now putting on the back burner as a result of the coronavirus pandemic, you may want to reconsider. Please contact us at The TM Group. We’ll show you how and why Microsoft Dynamics 365 Business Central is well worth the investment even during these difficult economic times.

 

Sources:

https://www.ciodive.com/news/amid-a-recession-slashing-tech-budgets-might-mean-economic-whiplash/561313/

https://www.ciodive.com/news/hershey-erp-implementation-coronavirus/576750/

http://rh-us.mediaroom.com/2020-05-01-Survey-Employees-Share-Views-On-Current-And-Post-Pandemic-Workplace

https://www.getapp.com/resources/tech-spend-trends-among-small-businesses-during-covid-19/