The NAV professional services industry offer customized and highly knowledgeable services to their clients. While the NAV Professional Services Industry is extremely diverse, it’s safe to say most service-oriented firms have a few common needs, like a flexible and comprehensive financial management system.
Historically combining project and finance management solutions, this industry still faces the difficulties of expensive software combinations that are not well tailored or refined to suit their needs and the needs of their customers.
Highly skilled, well-paid, employees who are in high demand must be effectively utilized not only because of being in demand, but because they are often needed on several simultaneous assignments. Likewise, fluctuations in market demand may require that a company go from underutilized resources to requiring additional staff literally overnight.
NAV Professional Services Industry Features and Benefits
Microsoft Dynamics NAV helps Professional Service Organizations, such as accounting, legal, management consulting, information technology (IT) services and other types of highly specialized outsourced services to address common operational and administrative challenges. It helps to predict project needs, manage project budgets and variations, allocate resources effectively and invoice clients in an accurate and timely manner.
Project Set Up
- Design projects to fit the way you do business. Include factors such as job, client, task, phase and work breakdown.
- Manage the progress of your project budgets from start to finish.
- Estimating projects based on standardized costs from previous projects with similar requirements, timeframes, qualifications and headcount.
Resource Management in NAV Professional Services
- Define resources and setup different type of skills to plan out the labor budget against a project.
- Setup individual forecasts on resource and calculate their performance against the budget.
- Track each employee timesheets and project milestones, offering a real-time view of a project’s costs, whether a project is running over- or under-budget, and whether the project is meeting key milestones on time.
Project Reporting, Analytics and Forecasting
- Enable project managers to analyze information about projects more effectively by presenting project and task data in familiar profit and loss formats
- Obtain complete visibility of project costs compared to budgets and estimates.
- Accurately manage inventory, labor and third-party services to ensure job profitability.
- Have a unique combination of business intelligence, collaboration and communication tools embedded across your core business processes.
Microsoft Dynamics NAV complies all the special requirements that exist in NAV Professional Services industry. The flexibility of the solution, which includes multi-currency support along with accounting, order entry, invoicing, quoting and more, allows it to adapt to match and comply with the unique requirements that exist in any organization.
Locus IT has a thorough knowledge of some of the most well-known industries and the particular challenges that exist in this industry. We can help you to plan and design a solution using proven tools that meet your specific needs, streamlining operations, and increasing profitability.