If you didn’t know this already, Business Central provides you with the opportunity to add new features to help you organise the day-to-day running of a professional services company.
Furthermore, Business Central is perfectly suited for professional services companies such as accountants, marketing agencies, legal firms or other service companies that bill per hour.
You will find that Business Central provides leading financial management capabilities that you come to expect in such a solution such as general ledger management, accounts payable and receivables, budgeting as well as financial reporting. Better still, an accounting company will be able to use these features effectively to both keep track and manage their finances, create invoices, manage payments, reconcile accounts as well as gain in-depth insights into the finances of the business.
By choosing to go down the road of a Business Central implementation, a professional services company will be able to streamline all of its processes required to effectively manage projects and financial operations. Given how great Business Central is with integrations, it will enable data consistency to be maintained as well as continuing to allow collaboration to be achieved in between departments.
In our latest blog article, we will take you through 5 reasons why we feel professional services companies turn to Business Central for their business needs.
Game changing project management capabilities
You will find that Business Central can provide a whole host of exciting project management features that will allow your professional services firm to do the following:
- Start and manage projects from within Business Central that are linked directly to the General Ledger.
- Outline project milestones, allocate tasks to colleagues & track the progress in order to effectively manage the work in progress.
- It is simple and easy for project managers to review project timelines, budgets and resources to make sure that projects stay on the right path and within the allocated budget.
Leading resource allocation capabilities
You will find that Business Central can provide a whole host of exciting resource allocation features that will allow your professional services firm to do the following:
- Keep all your resource data in one place populated with information containing employee information, their skills, their workloads as well as their availability.
- Enable effective and efficient resource allocation for projects so that you are able to allocate the right person to the right task at the right time based on their skillset and availability.
Effective time and expense tracking capabilities
You will find that Business Central can provide a whole host of leading time and expense tracking features that will allow your professional services firm to do the following:
- Keep track of time spent on both projects and activities.
- Document billable hours and track expenses accumulated throughout the project.
- Seamlessly integrate the financials against the costs and bill rates enabling better and more accurate billing to be established, payroll to be calculated efficiently and in-depth financial reporting.
Time saving billing processes
You will find that Business Central can provide a whole host of effective billing process features that will allow your professional services firm to do the following:
- Build sales invoices from billable entries with just a few clicks of a button.
- Easily run the batch function to enable you to completely automate this whole process.
- Create recurring billing from jobs.
In depth reporting and analytics
You will find that Business Central can provide a whole host of in-depth reporting and analytical features that will allow your professional services firm to do the following:
- Create customised reports based on project profitability, resource utilisation, client performance as well as the finances associated with the project.
- Improved analytical capabilities using real-time data which can be integrated with Microsoft Excel.
Next Steps?
If you are a professional services company and have the read the above Business Central article and are keen to find out, what is involved in the implementation of Business Central then please speak to our team of Business Central specialists who can go through your specific business needs.
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