Financial Industry
The end result of any organization is financial i.e. all the operations hit the ledgers directly or indirectly. Be it pharmaceuticals, retail, manufacturing, the sole purpose of an organization is to carry the financial processes. Microsoft Dynamics ERP Business Central offers collaborative approach to handle day to day finance related tasks such as maintaining and posting journals, bank transfers, Accounts receivables, account payables, salary transactions etc.
Challenges with Financial Companies
Financial management institutes and organizations face the following challenges:
- Maintenance of Invoices in a consolidated way.
- Accounts receivables from customers and outstanding.
- Payment of Government taxes for maintaining compliance.
- Submission of financial reports monthly / Quarterly and annually.
Solutions
Microsoft Dynamics Business Central manages financials of the organization by keeping all the data in a consolidated format. Customer outstanding, statements etc can be obtained with a single click of a button. Numerous reports like Balance Sheet, Trial Balance, Customer statements, top performing customers and vendors and more can be obtained as out of the box reports with the option to customize the reports as per the needs of different clients and different regions.
Microsoft Dynamics Business Central also offers localization based on the country specific needs such as GST and WHT (Withholding Tax) for Australian region, Sales Tax for United States of America, county based tax system for America and so on.