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Tips & Tricks (26)

Thursday, 31 August 2017 17:37

How can Digital Nomads Transform your Business?

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Who are the digital nomads? In simple words - people, who work remotely. But recently, the term "digital nomadism" shifted from a work style to a lifestyle and more and more professionals, like programmers, marketers, and salespeople, can work and still explore the world at the same time. So, how can digital nomads transform your business?

Enhanced Communication

Because digital nomads work remotely, there's no need for them to ask their manager questions in person every 5 minutes - it's much more convenient and effective to send one or two e-mails. Digital nomads also feel more comfortable using messaging or video chats, which can be set up across departments.  

Engaged Employees

It's a well-known fact that restrictions limit your productivity. And it relates to your staff as well – if you force them to stay in the office, their productivity and engagement will be limited. With the freedom to choose where it's comfortable for them to work, you will definitely see higher productivity among your employees and better results for your business.

Lower Costs

With digital nomads, you don't need to spend lots of money to rent and maintain an office anymore. Yes, not all types of businesses can survive without an office space, but you can also save money on electricity and supplies when hiring a digital nomad.

Prepare for hiring digital nomads at your company with the right software. Get Microsoft Dynamics 365 for Financials – cloud accounting software, which can be accessed from anywhere in the world. 

Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner

Download our FREE Microsoft Dynamics 365 Demo

Setting a budget for your company is essential for business planning, and can provide critical insights towards any future strategy or business operation. In Microsoft Dynamics 365 for Financials, you can easily create a budget for yourself or for your company using the following steps:

Step 1: In the search bar, find your G/L Budgets and select Edit List to create a new budget

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Step 2: After filling in the necessary fields, select Edit Budget and fill in the necessary fields

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Step 3: Click into one of the corresponding cells under the Budget Matrix, which will subsequently open up the G/L Budget Entries window

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Step 4: Create as many New lines as required and fill in the Amount(s)

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Step 5: Close the G/L Budget Entries window and continue to fill in all other budget amounts as required 

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With Microsoft Dynamics 365 for Financials, you’re free to create as many budgets as you feel necessary based on projects or for financial statements. Feel free to contact us for any inquiries, or click here for feature and pricing information on D365 for Financials. 

 Heimdall Sham, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner

Tuesday, 22 August 2017 18:31

ERP Payment Processing: Benefits of Using EFTs

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Electronic Funds Transfer (EFT) offers a secure and convenient method of payment for companies that manage payments and transactions between multiple bank accounts. In this week’s blog, we highlight how companies can expect to benefit from utilizing EFT payment features in their day to day financial transactions.

Long Term Savings

In Microsoft Dynamics GP, users can post EFT payments by creating a file to upload to the bank. By doing so, companies receive direct deposits and can do away with additional transactional costs such as online processing fees and costs associated with postage and stamps for companies that mail physical cheques.

Enhanced Security

Companies sending cheques through the mail run the risk of forgery and for the cheque to be lost in the mail. Meanwhile, EFTs provide companies with enhanced security measures when processing their financial transactions. With built in security features, EFT ensures that transactions are done through a secure online network and funds directly deposited into the companies affiliated bank account.

Simple and Convenient

EFT’s functionalities offer a variety of methods that simplify financial transaction processes for companies. Users are able to set automated payment features, which is useful for things such as paying vendors by a particular date as well as for payroll functionalities. EFTs are also accessible, requiring only an internet connection in order to make any payment processes and for transferring funds across bank accounts.

For more information on other Microsoft Dynamics GP features, click here to visit our website or contact us for other questions and inquiries.  

Heimdall Sham, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner

Download one of our free Microsoft Dynamics Demos

If you’re thinking of expanding your operations and considering doing business internationally, then having an ERP system capable of processing multi-currency is essential for your business practices. In this post, we highlight the key benefits of utilizing multicurrency features found in Microsoft Dynamics products such as Microsoft Dynamics GP and Microsoft Dynamics NAV:

Receive Up-to-Date Information on Current Exchange Rate

With multi-currency ERP, exchange rate calculations and reports are performed and updated periodically. These updates provide invaluable insights towards when would be the right time to perform any exchanges with a partnering country, such as when to process transactions when the exchange rate is lower and to avoid excessive spending once the exchange rate increases.

Automation Capabilities

Depending on which Dynamics product you are currently using, there are a number of functions and features that are designed to simplify tasks requiring multi-currency reporting and exchanges. With multi-currency in ERP, foreign currency is tracked and can be automatically converted into financial reports at your leisure. Additionally, for organizations with firms in foreign countries, multi-currency allows payroll to be sent to their international firms and immediately convert local currency to whichever country your agency resides in.

Establishing Fixed Rates

Due to daily fluctuations in the exchange rate, it is important to consider specific rates towards transactions with overseas customers and/or vendors. For example, a customer has requested to purchase one of your products. You had provided a quote for them yesterday and ship out the product today. However, the customer will only pay the bill tomorrow. For total transparency regarding what rate will be used towards the transaction, so long as the rate at shipment was finalized, then the rate will be locked in during payment regardless of future changes in the exchange rate.

WebSan Solutions specializes in Multi-currency management in Microsoft Dynamics GP and NAV. Click here for our free ERP whitepaper, and feel free to contact us with any questions, comments, or concerns that you may have.

Heimdall Sham, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner

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Who are the millennials? Known by some to be lazy, narcissistic, impatient but extremely tech-savvy and ambitious generation with a willingness to change the world. According to Environics Analytics, millennials make up 37% of the Canadian labor force now, and this number is expected to rise to 75% by 2028. They have high expectations for everything, so how they can change the way ERP software is implemented?

1. Accessible Anywhere, Anytime

Millennials want data to be available whenever and wherever they want it - and it relates not only to mobile access. They invented the term "Bring Your Own Device" (BYOD), which means that they want to see all the necessary data on their personal devices. In this case, an ERP system needs to be flexible, mobile and easily accessible.

2. User-Friendly Interface

When a millennial can't understand how to use a software system within the first 15 minutes, it’s hard to force him or her to use it again. Because of this, it’s important that ERP systems and implementation be seamless and user-friendly.

3. Analytics Is Key

Real-time KPIs, customized dashboards, and personalized reports shouldn't be something that your ERP system can't provide. Millennials are passionate about analytics, and they expect to have all the modern tools available to get valuable insights, that will help them to make fast and accurate decisions.

See what a millennial can contribute to your ERP implementation process. Try Microsoft Dynamics 365 for Financials – an easy-to-use cloud ERP system.

Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner

Download one of our free Microsoft Dynamics Demos

ERP configuration is one of the most crucial steps in your implementation process. Part of what makes ERP systems effective with improving productivity and efficiencies within an organization is that it’s not a one size fits all product. For every organization, ERP software will function differently to best meet your company’s own data, parameters, fields and workflow in order to ensure that your employees are receiving and sharing accurate information with one another.

Proper configuration of your ERP system is crucial for ensuring both financial and reporting accuracy within your company. Prior to implementing an ERP software, start by finding an ERP platform that best matches with your business processes and understand the needs of each of your department as well. Failure to do can result in spending thousands of wasted dollars on ERP add-ons and additional customizations.

Although it is a difficult task, it is not impossible to learn how to configure your ERP systems by yourself. However, ERP consultants exist for a reason. For a fixed fee, various companies offer both on premise as well as online instructions for proper ERP implementation. It is highly recommended that individuals with limited IT knowledge contact a consultant, as clients who fail to successfully implement their ERP systems by themselves are likely to be costing themselves more money in the long run.

For those interested in learning more about ERP systems and features, click here to visit our YouTube channel for discussions and product tutorials. Feel free to also contact us for any additional question or inquiries you may have regarding Microsoft Dynamics products.

Heimdall Sham, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner

Take our FREE ERP Assessment

Even though ERP vendors try to make implementation as smooth as possible, there are still some challenges that may come along the way. It takes a lot of time for employees to get used to the new software and start to get benefits from it but there's a way to make this transition faster. Below are three tips on how to make an ERP system implementation more comfortable for your employees.

1. Build an ERP system around existing business processes

Often, business processes of a company are adjusted to an ERP system. But it's a big mistake. To start getting benefits from an ERP system as soon as possible, it's better to identify all the gaps in the company and then build an ERP system around existing business processes.  

2. Establish trust with your ERP implementation partner

Your ERP implementation partners are the experts who know how to make the transition to a new or a different ERP software as seamless as possible. It’s important to establish trust and ensure that you’re honest with all your ERP needs so an accurate timeline for delivery and solution can be implemented. Also, make sure that all your employees are getting local support within the departments from the very beginning of the implementation.

3. Use online training

By nature, people are used to oppose to changes, and this relates to your employees as well. Just imagine how they will resist a new ERP system adoption, if you tell them, that they need to attend in-class training. Make them learn it by themselves with the online training. It will allow them to learn a new ERP system whenever and wherever they want, just with an available Internet connection.

Don’t overstress your employees with your new Microsoft Dynamics ERP system. Sign up for WebSan University to get the most accessible and easy-to-use online training.

Alina Hura, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner