Is Your Field Service Company Ready to Upgrade to Dynamics 365 Financials – Business Edition?

February 9, 2017
Cloud, Elevators, HVAC, Microsoft Dynamics GP, Microsoft Updates
3 min read

Dynamics 365 Financials – Business Edition is a business management solution for small and mid-sized organizations that automates and streamlines business processes and helps you manage your business. It is a cloud offering targeted at organizations that have 1 to 250 employees who are looking for typical system features for the SMB market. It allows users to start small by only using apps that they need and expanding as their business requirements change. The main business functions include:

  1. General Ledger
  2. Financial dimensions capability
  3. Accounts Payable
  4. Accounts Receivable
  5. Banking
  6. Sales orders
  7. Purchase orders
  8. Project or job costing
  9. Inventory; stock and non-stock
  10. Fixed asset accounting
  11. Basic relationship management
  12. Approval workflows

If your field service business is thriving and you are currently using Quickbooks or another entry-level accounting software, be on the look-out for some tell-tale signs that it’s time to move on to a new accounting system. Microsoft Dynamics 365 – Business Edition is one you should consider if you find that your business is struggling with:

  1. Monthly reporting nightmares: QuickBooks designed its reporting capabilities for very small businesses.   In order to get more complex, meaningful financial reports, all of the data must be exported to Excel, summarized, formatted and printed manually each month. Change a single amount and you need to repeat the entire process again.
  2. Disconnected systems: QuickBooks was designed to stand alone, creating disconnected sets of information that are very difficult to manage as you grow. Your field service company may have groups of data locked into different systems. As a result, there is a lot of duplication of data, making the company inefficient and increasing the chances for errors.
  3. Limited users: Your accounting department has grown, yet you have a limited amount of user access.
  4. Data and record size limitations: QuickBooks does have data and record size limitations that may become a problem for fast-growing field service companies. As a company begins to reach the limitations there is also the potential for the data to become corrupted. This may make it more difficult and costly to move the data to another system.
  5. Too many outside spreadsheets: If your field service company is using spreadsheets for tracking and reporting much of your accounting related data, you have outgrown QuickBooks. Many fast growing service companies find the limited functionality inhibits data tracking, and therefore turn to spreadsheets. The separate information on various spreadsheets create extra work and increase the potential for errors, slowing everyone down.

Contact FIELDBOSS to answer your questions about Dynamics 365 Financials Business Edition or to upgrade your field service company from Quickbooks or other startup accounting software.