Cloud Accounting Small Business

Dynamics 365 for Financials Targets SMB Accounting Market

Late in 2016, Microsoft introduced a new financial software solution for small to medium-sized organizations (SMBs) – Dynamics 365 for Financials. Surprisingly powerful, and built on the same engine as its big brother Microsoft financial solutions, Dynamics 365 for Financials is a software as a service (SaaS) application that appropriately scales functionality for smaller businesses.

Because it is technically sound and very robust on features, this is Microsoft’s strongest foray into SMB financial products — and the one with the best chance of success.

Mario Nowogrodzki will present the sessions, Microsoft Dynamics 365 for Financials: A Powerful New Option and Adventures in Inventory: Choosing the Right Solution, at Accountex USA 2017.

Almost two years ago, I was one of the beta testers for Dynamics 365 for Financials. The software officially launched at the beginning of November 2016, just prior to Accountex 2016. One of my goals at that conference was to learn more about this new entry into the SMB accounting software market. Immediately upon returning from the conference, I signed up our firm to be a Microsoft Cloud Solution Provider or CSP. And that is where the journey officially began.

In the past year, we have been working with Microsoft on building awareness of this product. Being part of this new foray in SMB accounting software affords us access to information about the product’s capabilities and development roadmap, which is why we see it as essentially on the same playing field with other SMB solutions, including QuickBooks.

Being so devoted to the product, I am excited to facilitate the Microsoft Dynamics 365 for Financials: A Powerful New Option session. In this session, we’ll explore its workflow integration capabilities with familiar MS Office tools. You will learn about its financial features and how they can be leveraged for sales, financial management, purchasing, inventory, and project management. And we take a look at how Dynamics 365 for Financials stacks up against its competitors.

Importance of Inventory Management

For companies that deal with inventory, from manufacturing to wholesale/distribution to retail and everything in between, inventory is at the heart of a business’ operations. Lack of proper inventory management strategies, practices, and disciplines compromises customer satisfaction and results in financial losses.

Many already know about my firm’s expertise within supply chain, inventory, and warehouse management. Many say there is no greater teacher than experience. I was invited to Accountex 2017 to lead the session Adventures in Inventory: Choosing the Right Solution and to impart that real-life experience to session participants. Using this expertise and our proven growth strategies, our firm helps solve the inventory and business management challenges small and mid-sized companies face.

In Adventures in Inventory: Choosing the Right Solution, we’ll examine the key areas and questions faced by businesses with inventory. Whether your clients are in online sales, retail, wholesale, distribution, or manufacturing, they need a solid inventory solution.

In this session, we’ll identify basic inventory functionality and how software applications address functions such as multiple warehouses, row-shelf-bin location, bar coding, serial and lot number tracking, alternate costing, and product substitutions; then we move on to more complex inventory tasks like accumulated costs, WIP, scheduling and forecasting, shop floor control and EDI.

We’ll review QuickBooks and its versions, and look at other solution providers in this space, including the new SMB offering from Microsoft Dynamics. You will also discover how to know when it’s time to move to a more specialized inventory solution, and how to select the right software provider and add-ons based on multiple factors.


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About the author

Mario Nowogrodzki

Mario Nowogrodzki is an information systems consultant and instructor. He is the founder and principal of Mendelson Consulting, which specializes in software solutions that maximize accounting and management information system processes to optimize operational and financial results.
Mario is a frequent author and instructor of accounting technology topics and a contributing author and speaker for Intuit, Accountex (formerly The Sleeter Group), and The Woodard Group. A leading figure on the national SMB financial software scene, Mario was a charter member of the Intuit Reseller Partner program and was selected to serve on the Intuit Solution Provider Advisory Council for three consecutive terms (longest ever tenure).
Mario is a Certified Public Accountant since 1992 and has the Certified Information Technology Professional (CITP) designation from the American Institute of CPAs. As an Advanced Certified QuickBooks ProAdvisor, Mario’s firm was recognized as ‘Killer VAR’ and ‘VAR Stars’, prestigious distinctions awarded by “Accounting Technology” magazine and “Bob Scott’s Insights” acknowledging commitment and character as a value-added-reseller. He was also selected as a ‘Technology Pacesetter’ by “Accounting Today” magazine recognizing reputation among peers and participation on advisory boards and speaker panels at industry events, and is a three-time recipient of the ‘Top Technologist’ award by the Sleeter National Consultants Network. Most recently, Mario was named to the “Insightful Accountant” ‘Top 10 ProAdvisor’ list, an exclusive list of prominent consultants honored for their accomplishments and leadership in the field of QuickBooks, and was named Top Integrations ProAdvisor out of a field of over 150,000 ProAdvisors worldwide.
In addition to working with end users and advisors, Mario and his firm provide consulting services to accounting firms and other businesses. Find out how they help enable success through technology, Mendelson Consulting. You may reach Mario at [email protected]

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