Microsoft Dynamics NAV is one of the most popular lines of enterprise resource planning (ERP) solutions from Microsoft Corporation. Enterprise resource planning is an integrative software system that allows companies to automate and manage their business processes. It combines and streamlines various internal functions and processes to ensure a smooth flow of information between them. The ERP system even has a central repository that collects vital business data from numerous sources. It then makes this information available to the top managerial personnel for making important decisions. This eliminates the possibility of data duplication resulting from human errors.
Key modules in a Navision ERP software platform
Microsoft Dynamics NAV or Navision is specifically made for small and medium-sized companies operating in diverse industries. They can operate this ERP system either as a standalone in-house infrastructure or using cloud technology. It is even compatible enough to integrate with other Windows-based business software solutions. It has nine distinct modules to enable companies to have better control over their operations. These are as follows:
- Customer relationship management which allows them to reduce sales cycles from quotation to fulfillment of orders,
- Document management whereby they can customize a wide range of reports according to the needs of top managerial personnel,
- Inventory management which enables them to monitor the batch serial numbers of goods in their warehouse,
- Account payable where companies can track the outstanding dues they owe to their creditors and lenders,
- The manufacturing module of the Navision ERP software solution helps companies to manage the material, labor, and machinery necessary to produce their final products,
- The financial management feature monitors cash flow, expenses, revenue, reconcile bank statements and finalize accounts,
- The human resource module enables companies to automate payroll, manage employee details and monitor absentees,
- The service management feature helps companies to customers’ online inquiries and provide status updates on their orders, and
- The marketing module allows companies to scrutinize sales data from various marketing campaigns.
Reasons for installing and operating this software
Companies should consider operating Navision or the Microsoft Dynamics NAV ERP software solutions for the following reasons:
- The ERP software solution enables them to streamline and get better control over their business processes,
- It has a simple user-interface that employees without a technical background can understand,
- They can conveniently operate the ERP software platform using cloud technology or as on-premises infrastructure,
- The ERP system allows companies’ managers and owners to access vital business data from remote locations.
- It is compatible and easily integrates with other business software solutions the companies might be using, and
- The ERP system has adequate security and back-up feature to loss of vital business data.
By installing the Navision ERP software, companies can take their market operations to the next level. They can easily automate, streamline workflow, and better control all of their business processes with it. Companies even have the option of using this ERP platform with the latest cloud technology. This allows managers to access important business data even from remote locations. They do not have to worry about data loss as the ERP platform has adequate security features. It is even user-friendly enough for all their employees to operate.