We’ve all been there. We researched the technology that best suited our needs and unique specifications, but found that the components did not integrate well with our existing solution set. At the very least, you will have to invest a significant amount of new time and money.
“While systems have had the ability to integrate with other applications for years, very few have actually achieved a high degree of application integration because the cost has become prohibitive.” said Scott Jorgens, director of marketing. Endeavor Solutions is a Microsoft AI Cloud Solutions Partner with Advanced Small and Midsize Business Management certification in ERP and CRM. “Each additional CRM and ERP integration point required additional development effort to map, build, and maintain.”
And this can be especially frustrating for today’s finance teams, who rely on data from disparate systems to support analysis.
Technology integration for future finance teams
Executives expect today’s finance teams to be strategic leaders, working with the rest of the organization to provide insights that drive business growth. With this in mind, you will often need to work across technology solutions, capture relevant data from across the business, provide real-time analysis, and collaborate with stakeholders from all departments.
If a finance team’s reporting and analysis tools cannot integrate large datasets, it will be difficult to meet current demands, let alone meet anticipated future demands.
But by building an integrated technology stack around a company’s existing investments in Microsoft, such as Dynamics 365, for example, finance teams can ensure that their technology solutions are prepared to work together and can handle complex integrations. It avoids the need to build and maintain.
“Because it’s all done within Microsoft, the integration can be completed in an hour or half a day, so it’s an out-of-the-box integration,” Jorgens says. “This will revolutionize the ability to share and collaborate, bringing information closer to the point and space where people make decisions.”
How an integrated technology stack can benefit your finances
Rather than leveraging data or pre-built reports from ERP, finance teams are increasingly turning to corporate performance management (CPM) solutions to serve as a central data source. CPM allows you to analyze and manipulate data, rather than simply recording it. Working with a properly integrated CPM benefits your organization in several important ways.
Provides a single source of truth
With trusted integrations and systems designed to work together, you can be confident that your technology solutions will never break the connection. Establishing connectivity from ERP, GL, CRM, and HRIS systems to a single source of truth allows finance teams to connect various aspects (general ledger, sales, customer base, etc.) without excessive manual effort. , employee base). As a result, you can meet deadlines, deliver real-time insights, and keep your business on track to meet your organizational goals without letting technical failures hold you back.
enhance collaboration
Modern finance plays a collaborative role. You need to be able to quickly find answers to a variety of questions from stakeholders across your business.
Free membership required to view all content:
Join MSDynamicsWorld.com and get unlimited access to news, analysis, white papers, case studies, product brochures, and more for free. You can also receive regular email newsletters with the latest relevant articles and content updates.
Learn more about us here