February 27th 2014: Bracknell
PrecisionPoint solves the operational reporting challenge faced by Dynamics NAV and AX users worldwide
In a major expansion of its product range, PrecisionPoint, the global Business Intelligence Software developer, today announced new BI solutions for Dynamics NAV and AX users – PrecisionPoint Focus and PrecisionPoint Connect – to provide direct agile access to key operational metrics and enable an accelerated and smarter financial close. For the first time, organisations can go directly from the Board Summary Level to individual transactions and gain insight across a wide range of elements not previously available on a single report, including General Ledger, Sales Ledger, Purchase Ledger and Inventory Ledger.
The new solutions are designed to address the limitations experienced by Microsoft Dynamics NAV and AX users who often find that their standard financial reports are functional but often too rigid in their format and limited in their scope.
The introduction of PrecisionPoint Focus solves one of the greatest challenges faced by mid-market organisations today, the management of the ‘Close to Report’ (C2R) cycle. Developed by accountants for accountants, the new solution provides relevant data access strategies to meet the changing needs of financial reporting.
It is already in use by a number of companies including NTT Communications, one of the largest telecommunications companies in the world. Aad Schrader, Management Accountant Europe, NTT, estimates the investment in PrecisionPoint has saved upwards of 100 hours per month previously spent by the finance team hand crafting reports, checking and double checking numbers.“Managers can check variance to last month at any time, in any way we want to see the numbers. As a result of being able to check the numbers throughout the month, by country and business unit, any potential problems are immediately raised, ensuring month end figures are already accepted by the business before they are published,” Schrader comments.
PrecisionPoint Connect has been designed to enable the clearest view of the business including sales, product, inventory, financial and customer data in organisations even where there are geographically separate subsidiaries, multiple currencies and consolidation requirements. At the heart of the new solution sits PrecisionPoint Singleview to enable the fast production of ad-hoc reports that are auditable and reconciled exactly to the Financial Reports even when there are multiple-currencies and companies.
Singleview provides a personal BI platform that enables business users to obtain insight across all dimensions of the business without the need to define multiple reports. The dramatic shortening of time frames will allow business users more ‘time to influence’ business decisions rather than just report on them.
“Efficient management of the Close to Report Cycle (C2R) is a barometer of success for the Finance function and it is no longer acceptable to rely on manually driven spreadsheet systems,” comments Michael Evans, CEO, PrecisionPoint. “Best-in-class organisations aim to significantly enhance their service by ensuring they offer speed, transparency, auditability, accuracy and simplicity as a standard and thereby create a solid foundation for performance evaluation and support for better decision making.”
PrecisionPoint software is the most complete BI solution on the market. Used by successful companies worldwide, it enables the building, editing, publishing and distribution of reports with unprecedented levels of automation without specialist technical knowledge.
PrecisionPoint (www.precision-point.com) simplifies access to sophisticated decision critical Business Intelligence (BI) and is designed to work with both Microsoft Dynamics NAV and AX. Available as an online managed service, customers benefit from rapid speed of deployment and are able to produce meaningful cross-functional reports and analysis across the entire organization in a matter of days.
With dual bases in the UK and the US, PrecisionPoint is used by successful companies worldwide including Americana International, Intematix, Broadsoft, Agent Provocateur, Fitflop/BrandHandling, Koppers and NTT Europe.
More timely accurate and transparent reporting create a foundation for evaluating performance, supporting business decisions and satisfying external reporting requirements,