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Today, I want to focus on how Dynamics 365 cost accounting software helped XYZ Corporation better manage its projects, boosting their bottom line and giving them a competitive advantage. XYZ makes, installs and supports heating and cooling systems for businesses and homes.
For some of their business customers with unique needs, these systems are custom-made. Since XYZ was growing and its projects were becoming more complex, they struggled to create exact cost estimates and assign the right resources to each project. Both issues led to shrinking profit margins and damaged customer relations. No business can survive long in these conditions. So, XYZ Corporation needed a solution.
Once again, Jim’s boos asked him and a team of coworkers to research different cost accounting software. Just like last time, Dynamics 365 was one of the first solutions they thought of and the one they choose.
Key features of Dynamics 365 cost accounting software that caught their eye
- Prebuilt templates accessible to both sales and project managers make it easy for XYZ Corporation to put together correct estimates that make sense for each project.
- Integration with Microsoft Project, like many others, XYZ Corporation depends on Microsoft Project. Having a cost accounting software that connects to Project gives them improved visibility into each project’s financials. It also means the staff spends less time on data entry. They no longer worry whether the information they’re looking at is up to date or true.
- Simple time and expense management. Often, getting project managers to enter their time into XYZ’s timekeeping system presented a challenge. They could only enter their time from the office, but they do much of their work at client sites. So, this task was always an inconvenience. And as a result, the billing staff could not send invoices to the customer as fast as they would like. But not anymore, with Dynamics 365 for project automation, the team can enter time and expenses from anywhere.
- Improved resource alignment. Dynamics 365 makes it easy to assign the right people and resources to the project every time. It will even suggest who might be the best fit based on their schedule, skill and interests. The scheduling staff doesn’t have to guess who the best fit for a project might be or check multiple systems to find out who is available. Now, scheduling and assigning resources to projects is all done in one system, and highly automated.
Do the issues XYZ Corporation was facing with delivering its projects on time and budget sound familiar? If so, you owe it to yourself to look at Dynamics 365.
Questions? Wondering if Dynamics 365 is a smart choice for your business? Contact us today!