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Microsoft Dynamics AX 2012 R3 Financial Management

You're reading from   Microsoft Dynamics AX 2012 R3 Financial Management Boost your accounting and financial skills with Microsoft Dynamics AX 2012 R3

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Product type Paperback
Published in Feb 2015
Publisher Packt
ISBN-13 9781784390983
Length 352 pages
Edition 1st Edition
Languages
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Author (1):
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Mohamed Aamer Ala El Din (USD) Mohamed Aamer Ala El Din (USD)
Author Profile Icon Mohamed Aamer Ala El Din (USD)
Mohamed Aamer Ala El Din (USD)
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Table of Contents (12) Chapters Close

Preface 1. Getting Started with Microsoft Dynamics AX 2012 FREE CHAPTER 2. Understanding the General Ledger 3. Understanding Cash and Bank Management 4. Understanding Accounts Payable 5. Understanding Accounts Receivable 6. Exploring Fixed Assets 7. Functioning of Cash Flow Management 8. Working with Cost Management 9. Exploring Financial Dimensions 10. Exploring Financial Reporting and Analysis Index

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
You have been reading a chapter from
Microsoft Dynamics AX 2012 R3 Financial Management
Published in: Feb 2015
Publisher: Packt
ISBN-13: 9781784390983
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