Four Reasons to Implement Microsoft Dynamics GP Sooner Rather Than Later
Now is the perfect time to be implementing Microsoft Dynamics® GP accounting software.
You may well be asking, “Is this guy nuts? The economy’s tanking, people are pulling in their horns, and you want me to spend money and time on new accounting software?”
Yes, that’s right. Now granted, I have a vested interest, but the reality is that a number of important trends and developments have come together to argue for implementing software that very quickly will pay a host of dividends. The Economic Stimulus Act of 2008 and Federal bailout, coupled with corporate weakening and failures nationwide, have created the perfect opportunity for forward-thinking small to mid-sized businesses to outmaneuver competitors via leading-edge accounting solutions. Here’s how:
Take a tax break. The Stimulus Act permits businesses to take a 50 percent bonus depreciation on qualifying software (including accounting software) and hardware purchased and placed into service before year-end. Added to the regular depreciation allowance, a business could realize a real-dollar tax savings of nearly $3,000 on a $15,000 purchase–saving almost 20%.
Of course, you’ll need to consult your tax advisor to see if/where you qualify. Growing businesses shouldn’t shut down their spending in dicey economic times. They just need to spend smarter. This certainly qualifies.
Become a financial reporting fanatic. Your company will need to be in better control of financial reporting than ever before. Ability to collect the right information at the right time will be critical to companies wanting to achieve and maintain a competitive edge.
Microsoft Dynamics accounting software scores extremely high in this arena. Plus, it integrates well with other supply chain programs such as CRM-providing even greater company continuity and access to timely, accurate and critical information. Being able to optimize inventory tracking and ordering, efficiently identifying and acting on positive and negative supply chain situations, and spotting buying trends that can impact future performance, are all capabilities of sophisticated accounting software such as Microsoft Dynamics.
Stay ahead of Big Brother. As the pendulum inevitably swings to greater regulation and oversight of corporate America because of the financial crisis and bailout, accounting solutions that stay ahead of the regulation curve will reward their customers. Microsoft Dynamics GP again score very well in this area. Companies on top of regulatory requirements can maintain productivity, avoid financial penalties, and minimize time-consuming mandates tied to compliance issues.
Make money with your software. Accounting software can have a substantial positive or negative impact on company balance sheets. Rapid access to the right information can smooth out cash flow crunches, even more important in today’s tight economic environment. Determining optimum times to pay vendors and controlling expense creep are two other critical functions. Once more, Microsoft Dynamics is a safe, sure bet.
Of course, the best accounting software in the world requires competent implementation. Getting up to speed without slowing productivity to a crawl is critical. Make sure any new upgrade or accounting system software being considered offers automated setup, self-directed training, and competent, understandable customer support throughout implementation.
By selecting Microsoft Dynamics accounting software and deploying it wisely, payback can come more quickly than ever before.
BY Paul Farrell, President, Wizard Productivity Systems
Email PUBLISHED: October 27, 2008