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Archive for September, 2010

Tools within Microsoft Dynamics ERP Streamline your Retail Business

September 14th, 2010 Bhavesh Ashani No comments

Retail enterprise resource planning (ERP) software is now being utilized by more and more businesses as managers are searching for ways to streamline operations while also improving productivity. Retail enterprise resource planning software is focused on the activities necessary for a retail business. This typically includes any information relating to transactions and operations such as accounting, billing, inventory, and supply chain management. The right application would allow for a better coordinated workforce and enhanced customer service.

Microsoft Dynamics® AX for Retail is a comprehensive solution designed specifically for midsized and enterprise specialty retailers. Connecting point of sale, store management, and merchandizing with enterprise resource planning (ERP), Microsoft Dynamics AX for Retail helps retailers reduce complexity across their organization. The real time data allows you to instantly monitor the cash flow and sales patterns. The following tools are perhaps the most important:

  • Customer service management: It is the customers who should be seen as the biggest asset of any business. It is vital to constantly be trying to attract new interest as well as retaining past clients. The larger your customer base the harder it is for their needs to be addressed on time. Microsoft Dynamics AX would help to ensure that there is a fast flow of information between the sales department and other teams to keep the customers happy.
     
  • Human resource management: No business will be efficient without a well-motivated and organized workforce. By choosing Microsoft Dynamics AX, you would be able to more effectively manage the payroll, recruit new employees, assess performance, and monitor attendance.
     
  • Financial management: One of the most difficult aspects of running a business is keeping on top of the financial reports and tax requirements. Microsoft Dynamics AX would allow you a more accurate understanding of the financial situation and also when any payments are due.
     
  • Supply chain management: To maintain a healthy balance sheet it is vital for a business to understand correctly the prevailing market conditions. Microsoft Dynamics AX would give for a better understanding of the current relationship between supply, demand, logistics, and distribution.

Microsoft Dynamics AX for Retail streamlines all important areas of your retail business. If you're interested in learning more, contact us for a free demo of Microsoft Dynamics AX for Retail. Ignify is a technology provider of ERP (including Microsoft Dynamics AX), CRM, and eCommerce software solutions to businesses and public sector organizations.

Bhavesh Ashani is Vice President at Ignify. Ignify is a technology provider of ERP, POS, CRM, and eCommerce software solutions to mid-market and enterprise businesses and public sector organizations. Ignify is a Top-tier Microsoft Gold Certified partner ranked in the Microsoft Partner of the Year for Retail in 2010 and both the Microsoft Dynamics Inner Circle and the Microsoft Dynamics Presidents Club in 2009 . Ignify offers Microsoft Dynamics AX, Dynamics AX for Retail POS and the Dynamics CRM, Loyalty Management solution for retailers and to several other businesses. Ignify has been included as the fastest growing business in North America for 4 years in a row by Deloitte, Inc Magazine and Entrepreneur Magazine. Ignify has offices in Los Angeles, Silicon Valley, Nashville, Chicago, Toronto, Manila, Pune and Bangalore.

Electronic Banking – Managing Customer Payments and Vendor Remittances in Dynamics AX

September 14th, 2010 Akshay Ramgopal No comments

BACK IN THE DAY…….

I remember the time when I was working in accounting, our team spent significant hours to prepare and get the checks approved for approval and released to various suppliers. It was even more inconvenient when check preparations fell on month end close that our financial accountant needed to spend overtime to get these done. We were using Microsoft Dynamics AX version 3.0 back then but we had not automated our manual process of cutting checks – which just didn't make any sense. As an Accountant, it is not fun of managing vendor payments because the process is straightforward and repetitive – and easily automated with an electronic interface to a bank.

INNOVATING PAYMENTS THRU ELECTRONIC PAYMENT EXCHANGES

Banks have evolved from financial institutions into service bureaus. In the internet age, they redefined the medium of exchange thru electronic payment exchanges to serve their customers faster and introduce their product offerings. They are innovating the service by doing not only the payment exchange service but also helping their customers in recording their payments.

HOW ELECTRONIC PAYMENTS WORK IN DYNAMICS AX

Microsoft Dynamics AX, a robust ERP platform for the midmarket and enterprise customers, added electronic banking management to the bank management module as a solution to managing vendor and customer payments. The concept of electronic banking in Dynamics AX is managing the customer and vendor payments thru payment remittance with the bank. Electronic Banking in Microsoft Dynamics AX supports the import and export of payment files from and to financial institutions in several countries.

Recording Customer Payments

Microsoft Dynamics AX provides the capability to import payments from customers. A remittance file sent by the bank is used to import payments and is ready to apply against outstanding invoices from the customer.

Recording Customer Payments

Paying Vendors Electronically

Microsoft Dynamics AX provides functionality to record payments to vendors by sending payment information electronically to the bank

Paying Vendors Electronically

Bank Reports for Remittances made.

Microsoft Dynamics AX provides summary and detailed level reporting of remittance made electronically

Bank Reports for Remittances

Bank Account Inquiry for Remittance files.

Bank Account Inquiry for Remittance

THE BENEFITS OF USING ELECTRONIC BANKING MANAGEMENT

  1. Improve Efficiency: Eliminate time-consuming manual processes.
    The amount of time to process checks until it is paid to vendor and apply to the outstanding invoices takes time. Dynamics AX supports the export and import formats for handling electronic payments. By handling incoming and outgoing payments electronically, it is easier to manage customer and vendor payments.
a.     Increase Accuracy: Reduce the chance of human error by automation.
When an outside entity is doing payment processing, there’s implied check and balance and guaranty for error fix when banks commit errors.

 

Akshay Ramgopal is an Assistant Manager  in the Microsoft Dynamics AX practice at Ignify. Ignify is a Global Microsoft Dynamics Inner Circle Partner with offices in Los Angeles, Silicon Valley California, Phoenix Arizona specializing in Dynamics AX for Retail, Distribution, Manufacturing, Sea Port and Chemicals verticals. For help on Microsoft Dynamics ERP email us at dynamics@ignify.com

Microsoft Dynamics CRM 2011 Released

September 9th, 2010 Sandeep Walia No comments

Microsoft has released the much awaited Microsoft Dynamics CRM 2011 in beta today. Having seen early previews of the product – I am very excited about this release. Dynamics CRM 4.0 was a huge leap forward to provide enterprise scalability, performance and a true multi-tenant architecture. Microsoft Dynamics CRM 2011 takes that release and builds in usability, a ribbon like interface, a more of a flat UI that requires fewer clicks and better visualizations.

Powerful Visualizations in MS Dynamics CRM 2011

Figure: Powerful Visualizations are native to Microsoft Dynamics CRM 2011.

Some of the key features are listed below:

  • Familiar experiences through a next-generation native Microsoft Outlook client, Microsoft Office contextual CRM Ribbon, RoleTailored design and user personalization
  • Intelligent experiences through guided process dialogs, inline data visualizations, performance and goal management, and real-time dashboards
  • Connected experiences through cloud development, Windows Azure integration, contextual Microsoft SharePoint document repositories, teamwork and collaboration, and the Microsoft Dynamics Marketplace

Marketplace

The market place is interesting as it becomes a single place for partners to publish their solution and allows customers to view them and get the solutions rated and ranked

Dynamics CRM 2011 Market place view

Figure: Dynamics CRM 2011 Market place helps customers find effective and reviewed solutions faster

Graphs

Graphs have been enhanced so you can easily zoom into them or with the click of a button see what is behind them. For example, the image below shows a Sales pipeline with the opportunities that make up the pipeline.

Microsoft Dynamics CRM 2011 Pipeline with opportunities

Figure: Microsoft Dynamics CRM Pipeline with opportunities are part of it – example of improved visualizations

The final version of the Microsoft Dynamics CRM 2011 service will be available by the end of the year in 40 markets and 41 languages. I will be reviewing the product closer and will have a Dynamics CRM 2011 – what’s new white paper out soon.

Sandeep Walia is the Chief Executive Officer of Ignify. Ignify provides design, consulting and implementation services for CRM and ERP initiatives for mid-market and enterprise businesses. Ignify is a Top-tier Microsoft Gold Certified partner ranked in the Microsoft Partner of the Year in 2010 and both the Microsoft Dynamics Inner Circle and the Microsoft Dynamics Presidents Club in 2009 . Ignify offers Dynamics CRM to retailers, banks, insurance companies, contact centers and to several other businesses. Ignify has offices in Los Angeles, Silicon Valley, Nashville, Chicago, Toronto, Manila, Pune and Bangalore.