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Microsoft Dynamics AX 2012 R3 Financial Management

Microsoft Dynamics AX 2012 R3 Financial Management

By : Mohamed Aamer Ala El Din (USD)
2.7 (3)
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Microsoft Dynamics AX 2012 R3 Financial Management

Microsoft Dynamics AX 2012 R3 Financial Management

2.7 (3)
By: Mohamed Aamer Ala El Din (USD)

Overview of this book

This book is intended for application consultants, controllers, CFOs, and other professionals who are engaged in a Microsoft Dynamics AX implementation project. Basic knowledge of financial terms, concepts, and Microsoft Dynamics AX terminologies is required.
Table of Contents (11 chapters)
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Exploring key intentions of ERP implementations

Enterprises that intend to implement Microsoft Dynamics AX ERP pursue a variety of common benefits from the ERP, but in most of the projects, there wasn't any well-defined benefits that the organization's management agreed on, and no roadmap to help them accomplish those intentions. It is vital to plan the ERP implementation carefully. In the sections that follow, we will take the key objectives of ERP implementation.

The organization can have a legacy system and manual business processes, and they need to be unified by one single integrated application to manage, operate, and control the business areas and deliver reports to management, as shown in the following diagram:

Exploring key intentions of ERP implementations

Enterprises that have decided to implement ERP should be coordinating together with a consulting partner specialized in Microsoft Dynamics AX. The customer and partner should plainly outline the objectives of the ERP solution as early as possible in the diagnostic phase. They can replace the legacy system and reduce manual business processes by automating the business processes using the ERP solution in the organization's departments. Samples of ERP implementation intentions are as follows:

  • Business process: This comprises the following:
    • Business process automation
    • Streamlined business process in cross-function operations
    • Unified business process across holding and subsidiaries
    • Single point of contact for reducing the redundant data within departments
  • Controlling: This comprises the following:
    • Segregation of duties and data access privileges
    • Advanced workflow and managerial approval matrix and its ceiling of expenditure amounts
    • Tracking the actual costs against budgeted
    • Inventory tracking and cost control
  • Decision support: This comprises the following:
    • Real-time and ad hoc reports for all organization levels
    • Dynamic and dimensional reports
    • Key Performance Indicators (KPIs) and indicators dashboard
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