If you’re exploring new software for your company, weighing the options of Microsoft Dynamics vs. Financial Force is probably high on your radar. Both software options a popular choice. They both can do a lot of similar things. They at their core are an accounting system and will be able to handle your payables, receivables, etc. However, Microsoft Dynamics offers a better solution for small business, and here are three reasons why.
Easier to Use
While Financial Force is capable of handling most any type of inventory tracking or return on investment analysis, it will take time getting used to the application because you have no basis on using a product developed like it. Microsoft Dynamics is a simpler interface to understand since it’s developers are the same developers that work on Microsoft Office 365. So your interface looks and feels exactly the same as Outlook, Word, etc. Being the world’s most widely used business application, your Office “experts” are going to have a quick adoption of using the Dynamics products. Working with a consultant firm such as Technology Management Concepts, can help you get your software to an optimum state in a short period of time.
Ease of Integration
One of the best components of the Microsoft Dynamics system is that it is easily integrated with other systems. Changing from one software to another can be a bit of a nightmare, and as a business owner, it can make you feel as though your business is on-hold. Dynamics is one of the easiest software solutions to covert to, and in most cases, data can be immediately integrated and sorted into the new system with ease. Microsoft Dynamics has been around since the early 90’s so is a robust system that has been perfected over the years and has been integrated into thousands of 3rd party products. FinancialForce has only been around since 2009 so is a fairly new product in the ERP world, thus doesn’t have a large database of 3rd party products that have been tested and successfully integrated to it.
Core Accounting Functionality
Many consider Microsoft Dynamics as the best on the market for accounting functionality. No system is better or more efficient with running basic general ledger reports or payroll inquiries. Moreover, the reporting can be tailored to what is important in your particular business, making the overall workings of the company easier to understand and interpret:
There are several areas where you can use Dynamics GP cloud within your organization. These include various accounting functions such as bank rec, billing, EFT for payable, general ledger, payable, safe pay, financial reporting among others. It also works well in the entry of expenses and time. Financial Force, on the other hand, applies to such functions as reconciliation of multiple bank accounts, billing at cost and this includes markup where necessary, cash management and collections, among other things.
Its EFT for Payable is easy to use and setup, it reduces cheque printing and payment time. You will also realize a reduction in mailing costs. Financial Force makes use of several data objects to build custom reports easy and flexible, credit and invoice processing are seamless and intuitive, it avails multi currency capabilities, among other advantages.
On the issue of return on investment, Dynamics GP can serve you for longer in comparison to other software tools, its Safe pay option reduces fraud, and processing of payments is fast. That saves you on time. The ROI on Financial Force is through improved and accurate reporting, reduction on DSO, increased visibility and transparency across departments, and faster bill processing.