Business owners looking to invest in today’s cutting-edge enterprise resource planning (ERP) find themselves making a lot of product comparisons of each software’s features-advantages-and-benefits—FAB. Often, such research for accounting software, for example, is handed down to an IT staffer who may work with the CFO as well as from a list of qualified vendors.
Making comparisons, and hoping to see results are one thing, but the real acid test is reading about successes through case studies.
For example, when it comes to automating the company’s accounts payables, Microsoft Dynamics GP provided ‘Service Systems Associates (SSA) with a reduction in their invoice processing costs by a whopping 40%.
That is significant in light of the fact that about 70% of today’s companies process more than half of their invoices with paper. According to the Institute of Financial Operations (IFO) a recent survey indicated that 29% of their respondents didn’t know how much it cost to handle an invoice.
But some of those surveyed said the costs were between $2 to $25 per invoice; mid-sized companies were spending about $4 per invoice. And for companies who said their costs were about $25 per invoice that translated to roughly $3 million a year.
For SSA, measuring hard costs, and relying on Dynamics GP, rewarded them not only with a better ROI, but better operational efficiencies throughout their entire company.
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