Use the words "Madoff," "economic meltdown," and "new Administration" in one sentence, then try to convince somebody that increased accounting regulation isn't coming.
Of course there will be abundant new initiatives to keep tabs on, and control of, company finances. What we don't know is precisely how increased regulation will impact our corporate books-or how soon.
Such entities as the Securities and Exchange Commission and Public Company Accounting Oversight Board will be front and center in the effort to ramp up regulation. Expected outcomes tied to the incoming Obama Administration include increased scrutiny of financial institutions coupled with more strict accounting procedures.
Recently-heard political rhetoric offers more than hints at what's coming. Such comments as "outdated and weak regulatory system," and "failure of regulators to adequately police the markets" no doubt will set the tone of efforts that ultimately will ramp up reporting and tracking requirements of companies throughout the country.
This scenario makes an extremely strong case for preventive medicine-in the form of accounting software with the power and resources to stay on top of expected regulations. In turn, this will help prevent SMBs nationwide from being crushed beneath the weight of new measures as they are enacted.
Users of Microsoft Dynamics® products--in particular, Dynamics GP and SL--should be prepared to meet challenges posed by increasing accounting regulation. Among the ways this robust accounting software will help in the coming days are:
1. Putting into place stronger processes and procedures that will make compliance with new regulations more of a natural outgrowth of existing systems, versus having to rework and refine accounting systems to place them into compliance.
Think of this in terms of the taxpayer informed of a pending audit. A company that has kept its books up to date and accurate can, in essence, hand over complete records. Otherwise, work hours-and costs-pile up trying to put together the necessary after-the-fact information for the audit. Besides the direct cost of these hours, there's the consequent disruption of normal work routines, which also can prove very costly. By using such Microsoft Dynamics components as SmartView in Audit Trails, a company can keep compliance reviews efficient and cost-effective.
2. Instilling confidence by virtue of its reputation for accuracy and reliability. Who do you think an auditor or regulator will have the most confidence in: a company providing hand-scrawled financials, an enterprise using entry-level software, or a company that has made a serious, substantial commitment to accounting excellence? Obviously, this confidence translates into less confrontation when facing an audit or regulatory review.
3. Providing comprehensive documentation and security. Microsoft Dynamics enables companies to implement highly-complex security protection, develop complete audit trails, track changes and approvals, and safeguard against errors with sophisticated control processes.
4. Ensuring seamless connection with other Microsoft applications to create consistent, smooth communication of information and data. This heightens ability to share information with those possessing adequate security clearance, and lessens chances of data losses that sometimes occur in transit from one application to another.
5. Providing automated compliance processes and procedures. Such programs as Analytical Accounting for Microsoft Dynamics help keep companies in the know about compliance issues.
6. Offering a regular stream of information and alert updates. Role-tailored alerts, SmartList, and Key Performance Indicators all help propagate up-to-date information to everyone authorized to see it, and dependent upon it for compliance excellence.
Re-regulation is coming big time. Get your ducks in a row now, so you don't have to duck when regulators and auditors take aim down the road.
Wednesday, April 29, 2009
Tuesday, April 28, 2009
Free CustomerSource Webcast
Would you like to see what CustomerSource can do you for you? Microsoft Dynamics CustomerSource is a password-protected site for customers using Microsoft Dynamics products, provided as a benefit of a service plan. Use it to search the Knowledge Base, download updates, view online training, and find other information resources virtually 24 hours a day. To learn more about how CustomerSource can help you save your business money view the online webcast recording presented by Arlin Fisher, Senior Product Manager –Microsoft Corporation. (Duration: 60 min)
Webcast Agenda:
Webcast Agenda:
- Self-help tools
- Product updates and downloads
- Training and support services
- Business news
- Community information
If you are a looking for a quick tour of CustomerSource, you can view our online demo.
CustomerSource is one of the many benefits of a service plan. Click here to send me a request for more information on CusomerSource.
Thanks
Russell Yearwood
i.t.works
601-264-0969 ext 112
Monday, April 6, 2009
CONSUMERS IMPACT ON BRANDING
PepsiCo, producer of Tropicana Pure Premium orange juice, recently replaced their iconic packaging (the orange with the straw) with a glass of orange juice. While a seemingly small change in the company’s brand, loyal Tropicana orange juice drinkers immediately responded and expressed their disdain for the new packaging. They emailed, tweeted, blogged etc, their complaints with the new logo. In effort to appease their angered consumer base, PepsiCo quickly reverted to the old logo.
The Tropicana orange juice debacle clearly illustrates how important it is for companies to involve their existing consumer base in brand -related decisions. Rather than being retroactive by changing the product after the backlash, Tropicana should have taken into account the opinion of the buyer. In doing so, Tropicana would have not only avoided the backlash but also established a stronger relationship with customers.
While, Tropicana solicited professional logo design advice, in the end it was the customer who had the last say. By hearing and responding, Tropicana did ease upset customers. However; had they involved their loyal customers in the process in the first place, the whole situation could have been avoided.
The reason I wanted to send this to our clients is simply this: We are not our brand-our customers are. Without you, we’re nothing. So, if there is something that you would like to see changed, or just something that you would simply like to voice, please let us know. We are hear to listen, and to help.
Thursday, April 2, 2009
Now's the Time To Improve Productivity
There’s little you can do to solve our world’s financial woes. So why not focus your effort on something you can control – making your organization more efficient and productive in a tough economic environment. Our Q1 2008 newsletter introduced the Dynamics SL Business Portal and how it could be used to organize and access information from anywhere at any time. In this issue, we’d like to expand on this topic a bit and explore ways to reduce IT costs and improve efficiency.
Your Portal to Efficiency
The Dynamics SL Business Portal is a collection of predefined, Web‐based pages that interact directly with Dynamics SL data. Samples of preconfigured pages include time and expense entry, purchase requests, and employee self‐service. The Business Portal is built on Microsoft Office SharePoint Server (“SharePoint”) technology. As such, its utility extends beyond your Dynamics SL system. SharePoint can act as a central repository that manages all of your organization’s documents, allow you to collaborate with others inside and outside your organization, and automate many common business processes. SharePoint also reduces IT administration expense as it provides web‐based access to Dynamics SL, eliminating the need to load software (and subsequent updates) on every user’s workstation.
One View, One Set of Project Documents
SharePoint is a great tool for managing project documents. Think of the productivity gains you’ll experience by merely clicking on a Dynamics SL project and accessing a centralized library containing related consulting contracts, statements of work, change orders, project plans, status reports, and project meeting minutes. No more wasted time digging through file cabinets or searching the network for misplaced documents. Project data from Dynamics SL can be combined with other important sources of information including spreadsheets, graphs, and notes. Perhaps best of all, everyone is working from the same SharePoint portal so your project team is always working with the most recent documents.
Improving Communication
With project calendars, team member information, announcements, and meeting notes all centrally located and available over the Web, SharePoint significantly improves communication within your team. What’s more, you can extend SharePoint technology to your customers. With appropriate security, they can access important project information online and reduce the time your staff spends responding to project status inquiries. You can even include a process for your customers to view and approve your invoices online which will speed‐up payment and improve cash flow.
Who’s Managing This Project?
With a multitude of graphs, tables and even “green/yellow/red” conditional alerts, Project Managers can use Dynamics SL Business Portal and SharePoint technology to track key performance indicators (KPI’s) such as staff utilization, project milestones, and actual vs. budgeted project expenses. Share‐Point can also be used to automate time consuming, manual processes like approving change orders.
Your Portal to Efficiency
The Dynamics SL Business Portal is a collection of predefined, Web‐based pages that interact directly with Dynamics SL data. Samples of preconfigured pages include time and expense entry, purchase requests, and employee self‐service. The Business Portal is built on Microsoft Office SharePoint Server (“SharePoint”) technology. As such, its utility extends beyond your Dynamics SL system. SharePoint can act as a central repository that manages all of your organization’s documents, allow you to collaborate with others inside and outside your organization, and automate many common business processes. SharePoint also reduces IT administration expense as it provides web‐based access to Dynamics SL, eliminating the need to load software (and subsequent updates) on every user’s workstation.
One View, One Set of Project Documents
SharePoint is a great tool for managing project documents. Think of the productivity gains you’ll experience by merely clicking on a Dynamics SL project and accessing a centralized library containing related consulting contracts, statements of work, change orders, project plans, status reports, and project meeting minutes. No more wasted time digging through file cabinets or searching the network for misplaced documents. Project data from Dynamics SL can be combined with other important sources of information including spreadsheets, graphs, and notes. Perhaps best of all, everyone is working from the same SharePoint portal so your project team is always working with the most recent documents.
Improving Communication
With project calendars, team member information, announcements, and meeting notes all centrally located and available over the Web, SharePoint significantly improves communication within your team. What’s more, you can extend SharePoint technology to your customers. With appropriate security, they can access important project information online and reduce the time your staff spends responding to project status inquiries. You can even include a process for your customers to view and approve your invoices online which will speed‐up payment and improve cash flow.
Who’s Managing This Project?
With a multitude of graphs, tables and even “green/yellow/red” conditional alerts, Project Managers can use Dynamics SL Business Portal and SharePoint technology to track key performance indicators (KPI’s) such as staff utilization, project milestones, and actual vs. budgeted project expenses. Share‐Point can also be used to automate time consuming, manual processes like approving change orders.
Wednesday, April 1, 2009
Charting Your Course To Success
You’ve probably heard the old saying “a picture is worth a thousand words.” The same holds true for your business. Today, there are various “dashboard” tools available that convert huge volumes of raw operational data into visual cues that will enable you to respond more quickly to changes, help you make more informed decisions, and set (or keep) your business on a course to success.
The View From Here is Great!
Business dashboards communicate an abundance of complex information quickly. They translate information from Microsoft Dynamics GP and other data sources into visually rich presentations using gauges, maps, charts and other graphical elements for a quick view of your key performance indicators or “KPIs.” KPIs refer to critical metrics that measure the health of your business. Examples might include total sales, gross profit margins, desired inventory levels, or any other metric you watch closely to quickly determine whether your business is performing within an acceptable range.
The View From Here is Great!
Business dashboards communicate an abundance of complex information quickly. They translate information from Microsoft Dynamics GP and other data sources into visually rich presentations using gauges, maps, charts and other graphical elements for a quick view of your key performance indicators or “KPIs.” KPIs refer to critical metrics that measure the health of your business. Examples might include total sales, gross profit margins, desired inventory levels, or any other metric you watch closely to quickly determine whether your business is performing within an acceptable range.
While dashboards are extensively used by managers and executives, associates at all levels of an organization (with proper security) can evaluate visual metrics that are important to their role within the company. In addition, most dashboards will allow you to drill down into the underlying details to further investigate an issue and to support a quick and informed response.
It’s Like Driving a Car
Like the dashboard in your car, one glance provides everything you need to know about your speed, fuel level, and other vital gauges. The same can be said about a business dashboard that aggregates huge volumes of data and presents it in a format that’s easy to interpret at a glance. And with flexible personalization options, you can choose which KPIs and gauges are important to you. Dashboard elements can also be arranged in a specific order and display as much or as little detail to fit your needs.
What About My Current Reports?
Traditional reports play an important role in your company. However, dashboards offer advantages that can be used to compliment your existing reporting structure. Dashboards can combine data across multiple databases into a single view … a task that can be a bit more difficult and time‐consuming using traditional reporting tools. Plus the visual cues and graphical charts provide meaningful insight at a glance (it’s a lot harder to “glance” at a 15‐page report). It’s all about empowering you with tools to monitor and evaluate business performance in real‐time, make quick and informed decisions, improve profitability, serve your customers better, and chart your course for success!
What’s the Best Tool for Creating Dashboards?
There are a host of business dashboard tools available for Microsoft Dynamics GP. Depending on your needs and the complexity of your operations, you can leverage a combination of tools that are built‐in
to your existing system and/or add‐on products that take web-based and dashboard‐style reporting to the next level.
Contact us for information about using dashboards to monitor & evaluate business performance or to discuss dashboard reporting options for Microsoft Dynamics GP
Wednesday, March 25, 2009
New Things Coming to i.t.works
Hello everyone. This post will be short in nature, but I just wanted to let you in on a little secret. "Coming Soon", i.t.works will be anouncing a new way of doing things that can help not only new clients, but our existing ones as well. For right now, we will call it the "i.t.works Stimulas Package", a creative way to help you save money when times are tough.
So please be on the look out for a new blog post on all the details.
Also, we would like to welcome Ian Meservy and Anthony Gingrich to the staff at i.t.works. Many of you may have already had contact with Ian (he has been here for a little while), and we are excited to have him on board as a new consultant. Anthony is a new programmer for i.t.works, and trust me, good things will come from knowledge and talent. Please feel free to reach out to them when needed. You may reach them at ian@thinkitworks.com and anthony@thinkitworks.com.
Again, if there is every a time that you need anything, please do not hestiate to contact me via phone or email. I am here to help you.
Well, I hope you all have a great day, and don't forget to keep a lookout for our announcemet.
Russell Yearwood
i.t.works
601-264-0969 ext 112
russell@thinkitworks.com
So please be on the look out for a new blog post on all the details.
Also, we would like to welcome Ian Meservy and Anthony Gingrich to the staff at i.t.works. Many of you may have already had contact with Ian (he has been here for a little while), and we are excited to have him on board as a new consultant. Anthony is a new programmer for i.t.works, and trust me, good things will come from knowledge and talent. Please feel free to reach out to them when needed. You may reach them at ian@thinkitworks.com and anthony@thinkitworks.com.
Again, if there is every a time that you need anything, please do not hestiate to contact me via phone or email. I am here to help you.
Well, I hope you all have a great day, and don't forget to keep a lookout for our announcemet.
Russell Yearwood
i.t.works
601-264-0969 ext 112
russell@thinkitworks.com
Wednesday, February 18, 2009
CONVERGENCE 2009, NEW ORLEANS, LA
Coming up March 10-13 in New Orleans is Microsoft Convergence 2009. Convergence is Microsoft's premier customer event for the Dynamics line of business, and it's one of Microsoft's largest conventions each year. A few people recently asked me why they should attend, given the difficult economy, and I was surprised that I quickly rattled off ten reasons why they should go. I'm sure that there are more but here are the ten biggest ones I came up with:
1) Learn how to get more out of your existing Dynamics program. Plenty of sessions at Convergence provide you with tips and information for fully exploiting your version of Dynamics. This is important information for tough times and give you the chance to look like a hero when you return home with ideas for improving the efficiency of your current setup.
2) Learn about new features planned for upcoming releases.The economy will turn around. When it does, people are going to want to know how to get ahead of the competition. Convergence can give you a heads up on all of the great new features in upcoming Dynamics releases, so you can better position your firm to compete.
3) Get Continuing Professional Education.If you are a CPA or other professional who needs continuing professional education (CPE) credits, your company is probably going to pay for them anyway, poor economy or not. Why not get two -for-one by attending Convergence to learn about Dynamics and getting CPE at the same time?
4) Learn what works from other users.You are not alone. You also don't have to figure everything out by yourself. There are thousands of users at Convergence, many of whom have been experiencing the same challenges as you. Convergence is the perfect place to ask questions and learn what works in the real world from real users.
5) Interact with product and support team members.Many of Microsoft's product team support members make it to Convergence. Being able to ask them questions is a phenomenal opportunity. There is nothing like walking through a scenario, in front of the application with a support team member looking over your shoulder.
6) Attend parties.Team Members and Partners are often more relaxed after the event. The social events are a great place to pursue some relationships that pay big dividends down the road. Don't underestimate this opportunity for networking. It's not frivolous. I've gotten some great info from clients.
7) Try something new.Hands-on labs at Convergence provide an opportunity to try out a product or process without worrying about setup, licensing or breaking something. If you've been wondering if a particular module would meet your needs, this is a way to figure it out quickly in a semi-structured environment.
8) Learn about Add-on Solutions.One of the benefits of the Dynamics ecosystem is that it is rich in vendors with applications designed to enhance your solution. This is the perfect place to pull out a list of pain points and see if there is an add-on solution that meets your needs. It doesn't matter if your pain is related to compliance, tax, efficiency or something else entirely; there is probably a third-party solution for you.
9) Learn about related applications.Convergence doesn't just cover the Dynamics applications. Related applications like SQL Server and the Microsoft Office products are covered as well. These products are an integral part of a Dynamics solution, and obtaining more information helps you better leverage your implementation.
10) Quick return on investmentIf you learn one thing that saves you eight hours of consulting time, you've essentially paid for the entrance fee. If you learn how to save two hours a week, you've gained one day-month in productivity. What is that worth to you?
1) Learn how to get more out of your existing Dynamics program. Plenty of sessions at Convergence provide you with tips and information for fully exploiting your version of Dynamics. This is important information for tough times and give you the chance to look like a hero when you return home with ideas for improving the efficiency of your current setup.
2) Learn about new features planned for upcoming releases.The economy will turn around. When it does, people are going to want to know how to get ahead of the competition. Convergence can give you a heads up on all of the great new features in upcoming Dynamics releases, so you can better position your firm to compete.
3) Get Continuing Professional Education.If you are a CPA or other professional who needs continuing professional education (CPE) credits, your company is probably going to pay for them anyway, poor economy or not. Why not get two -for-one by attending Convergence to learn about Dynamics and getting CPE at the same time?
4) Learn what works from other users.You are not alone. You also don't have to figure everything out by yourself. There are thousands of users at Convergence, many of whom have been experiencing the same challenges as you. Convergence is the perfect place to ask questions and learn what works in the real world from real users.
5) Interact with product and support team members.Many of Microsoft's product team support members make it to Convergence. Being able to ask them questions is a phenomenal opportunity. There is nothing like walking through a scenario, in front of the application with a support team member looking over your shoulder.
6) Attend parties.Team Members and Partners are often more relaxed after the event. The social events are a great place to pursue some relationships that pay big dividends down the road. Don't underestimate this opportunity for networking. It's not frivolous. I've gotten some great info from clients.
7) Try something new.Hands-on labs at Convergence provide an opportunity to try out a product or process without worrying about setup, licensing or breaking something. If you've been wondering if a particular module would meet your needs, this is a way to figure it out quickly in a semi-structured environment.
8) Learn about Add-on Solutions.One of the benefits of the Dynamics ecosystem is that it is rich in vendors with applications designed to enhance your solution. This is the perfect place to pull out a list of pain points and see if there is an add-on solution that meets your needs. It doesn't matter if your pain is related to compliance, tax, efficiency or something else entirely; there is probably a third-party solution for you.
9) Learn about related applications.Convergence doesn't just cover the Dynamics applications. Related applications like SQL Server and the Microsoft Office products are covered as well. These products are an integral part of a Dynamics solution, and obtaining more information helps you better leverage your implementation.
10) Quick return on investmentIf you learn one thing that saves you eight hours of consulting time, you've essentially paid for the entrance fee. If you learn how to save two hours a week, you've gained one day-month in productivity. What is that worth to you?
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