What is Microsoft Dynamics GP?
Microsoft Dynamics GP is an accounting software or an Enterprise Resource Planning (ERP) software that is designed specifically to aid small to growing-size business enterprise companies.
Microsoft Dynamics GP is originally the creation of Great Plains Software, a company based in North Dakota. It was later bought by the Microsoft company in the year 2001 and its features and modules have been further developed by Microsoft.
Microsoft Dynamics GP has features and functions for nearly every department and management, for example, HR management, financial management, and accounting management, etc. Microsoft Dynamics GP also has separate modules that contain specific features for specific departments of a business enterprise.
In addition to that, it supports the integration of many third-party software and apps. These third-party apps can be added to the modules to fit the needs of the users, making Microsoft Dynamics GP more effective for business executives.
Microsoft Dynamics GP Features
- Human Resource Management
- Project Management
- Accounting Management
- Bank Management
- Supply Chain Management
- Manufacturing Management
For human resource management, Great Plains allows its users to view their business benefits online according to their filters, for example, monthly or yearly. This greatly reduces analyzing your business performance manually and doing tons of paperwork.
Furthermore, in human resource management, you can generate Federal Magnetic Media files. These files help you maintain compliance with your state’s government. Thus, you will be easily reporting requirements and other details.
Moreover, this feature has customizable tools that allow you to perform several tasks without much workload. With these tools, you can hire employees, schedule your activities, tasks, and operations, and record and analyze your business enterprise’s performance.
You can further customize them to suit your requirements. This makes it straightforward to carry out minor tasks, saving time and increasing productivity.
Apart from that, you can automate various processes, such as complex vacation, sick time policies, and payrolls to employees and staff members. With the automation of such tasks, you will never have to worry about falling behind schedule.
Human resource management also enables you to track the health and well-being of all your employees. This feature ensures a safe working environment for your employees.
In Microsoft Dynamics GP s project management, you can integrate and use third-party accounting software and apps. These third-party apps can also integrate with your inventory management, financial management, and accounting management. Therefore, with these integrations, you will be able to manage and keep track of all your business projects.
In addition to that, project management allows you to use timesheets and other analytical tools so that you can plan, review, and approve business projects.
In accounting management, you are granted access to a General Ledger account. A General Ledger account is an analytical tool that provides you with many features and modules regarding the analysis.
In addition to that, General Ledger has productivity systems that help you efficiently manage your workloads.
Moreover, you will be able to track financial data and multiple budgets. The financial data will be gathered from across your business enterprise and centralized into accounting management. From this financial data, you will be able to view regions of profit where you can invest and improve your business.
Furthermore, you will be able to use other Microsoft products, such as Microsoft Excel, that will help you update and maintain budgets for projects. In Microsoft Excel, you can also import and export data, so you can share this data across multiple platforms.
In accounting management, you can also forecast tools that will assist you in managing financial inflows and outflows. You can also automate accounting processes, such as automating payrolls for employees and staff members.
With Microsoft Great Plains, you can attach unlimited checkbooks to your bank account. You can also integrate these checkbooks with your bank account electronically through a device, particularly your mobile phone, your laptop, or your computer. These checkbooks will allow you to withdraw or make payments efficiently.
Furthermore, you can automate all your transactions and reconciliations of your bank account management. Hence, your bank account will be managed productively and securely.
With Microsoft Dynamics GP, you will be able to monitor your inventory stock levels and costs. A report will be generated frequently that will contain all the information regarding the products and stocks in your inventory. This report will be constantly messaged or emailed to you so that you can keep track of it at all times.
You can also set prices for your products and stock in the inventory. The pricing will be set on a customer-by-customer basis that ensures your customers get their products at the best price.
Instead of setting the prices on each product manually, you can automate the process, modifying and aligning your products according to their prices. You can also customize the price automation process by creating flexible price options and specific rules for customers.
In manufacturing management, GreatPlains enables you to leverage a Manufacturing Suite for planning and operating sales forecasts.
It also enables you to keep track of the entire cycle of processing while your product is manufactured. Therefore, you will be able to manage the raw material resources and other components of the product more profitably.
Moreover, Microsoft Dynamics GP allows you to automate the creation of specific products per sale.
Which Companies or Business Enterprises Should Use Microsoft Dynamics GP?
Generally, Microsoft Dynamics GP is targeted at small to growing-size companies and businesses.
Growing companies that use Microsoft Dynamics GP are usually related to eCommerce, retail business, wholesale business, construction business, educational and healthcare institutes, and manufacturing and distributing companies.
These business enterprises and companies usually purchase and implement the full Microsoft Dynamics GP ERP system because they manage several departments and management.
On the other hand, relatively smaller companies and businesses often start with the Microsoft Dynamics GP Starter Pack, mainly because it is more affordable than the full ERP system.
The Starter Pack includes minor features and can be used by a limited number of users with limited departments. Though, its features and tools are just as effective as the full ERP system and greatly enhance many aspects of your business.
How Microsoft Dynamics GP Can Modernize Your Business
To have a successful business, you must have an up-to-date ERP software solution, like Great Plains Software. If implemented correctly, this ERP software solution has the potential to modernize your business with its high-tech features and modules. Whether you are a small business or a medium-sized business, with Microsoft Dynamics GP, you can take your business performance to a next level.
- Efficient Financial Management
One of the toughest tasks for business enterprises and companies is managing finances. It is vital to have impeccable financial management, as one misstep can spell the downfall.
Dynamics GP offers you efficient financial management with its modern high-tech features and tools. You can use powerful applications and software that are driven by artificial intelligence technology to handle your business needs.
- Mobile Application
Microsoft Dynamics GP has a mobile app as well with access to all the features. Hence, you will be able to use the ERP software solution on your mobile phone as well, from any location. Thus, you will not have to be at your office to manage your business.
- Data Security and Protection
Another fantastic service that Microsoft Dynamics GP provides is security from cyber hackers. Today, cracking through codes and into important business files has become common.
Microsoft Dynamics GP ensures that all your data is protected from such cyber-attacks. In addition to that, this ERP software solution also saves all your work as it is done to make sure no work progress or data is lost through any virus or malfunction.
The Benefits of Upgrading Your Great Plains Accounting
Today, businesses of all sizes and scales are looking to constantly improve and expand their business, to make business processes and operations efficient and streamlined. For that, it is recommendable to upgrade or update their version of Great Plains Accounting Software. Through this, they will be able to make the best use of the features of Microsoft Dynamics GP.
- Low IT Costs
Upgrading your Great Plains Accounting System helps lower IT costs as it is easier to integrate the latest versions of Microsoft Dynamics GP with your business systems.
The latest version is programmed with efficient algorithms and software that makes it very straightforward to integrate it with your other apps.
- Digitalizing Your Reports
The latest versions of Microsoft Accounting Software also include digitalized reports of data and financial transactions. It is designed to improve your workflow and increase your productivity with simplified reports.
The process of reporting is automated, which eliminates all paper-based transactions and provides updated currency exchange rates. Thus, you will be able to manage your financial reports efficiently.
Microsoft has developed many products and software to aid businesses to expand and Microsoft Dynamics GP is one of the best ERP products from Microsoft. If implemented appropriately, Microsoft Dynamics GP will surely enhance your business processes. Though, you also have to make sure that you buy the module that best suits your business needs.