If you’re thinking of expanding your operations and considering doing business internationally, then having an ERP system capable of processing multi-currency is essential for your business practices. In this post, we highlight the key benefits of utilizing multicurrency features found in Microsoft Dynamics products such as Microsoft Dynamics GP and Microsoft Dynamics NAV:
Receive Up-to-Date Information on Current Exchange Rate
With multi-currency ERP, exchange rate calculations and reports are performed and updated periodically. These updates provide invaluable insights towards when would be the right time to perform any exchanges with a partnering country, such as when to process transactions when the exchange rate is lower and to avoid excessive spending once the exchange rate increases.
Depending on which Dynamics product you are currently using, there are a number of functions and features that are designed to simplify tasks requiring multi-currency reporting and exchanges. With multi-currency in ERP, foreign currency is tracked and can be automatically converted into financial reports at your leisure. Additionally, for organizations with firms in foreign countries, multi-currency allows payroll to be sent to their international firms and immediately convert local currency to whichever country your agency resides in.
Establishing Fixed Rates
Due to daily fluctuations in the exchange rate, it is important to consider specific rates towards transactions with overseas customers and/or vendors. For example, a customer has requested to purchase one of your products. You had provided a quote for them yesterday and ship out the product today. However, the customer will only pay the bill tomorrow. For total transparency regarding what rate will be used towards the transaction, so long as the rate at shipment was finalized, then the rate will be locked in during payment regardless of future changes in the exchange rate.
WebSan Solutions specializes in Multi-currency management in Microsoft Dynamics GP and NAV. Click here for our free ERP whitepaper, and feel free to contact us with any questions, comments, or concerns that you may have.
Heimdall Sham, Digital Content Creator, WebSan Solutions Inc., a 2017 Microsoft Modern Marketing Innovation Award Winner
With numerous ERP software solutions out in the market, consumers may find it overwhelming to pick one that would best fit their needs. WebSan Solutions aims to streamline the ERP selection process by offering a quick and comprehensive guide to help determine which Microsoft product is right for you.
With over ten years of expertise in offering top-notch software solutions, we’ve advised many companies about which products will help improve their business processes and bottom line.
The infographic below showcases WebSan’s product offerings – Microsoft Dynamics 365 Business and Enterprise edition, Microsoft Dynamics NAV and Microsoft Dynamics GP. Depending on the company’s size, industry, budget and need, the infographic summarizes the products’ main features and modules and suggests which product would be the best fit.
The four-step guide helps to simplify the ERP selection process by asking questions that software buyers will find easy to answer. Although created to offer general product recommendations, the infographic will give software buyers an overarching idea of which solution would best benefit them.
Linz Tan, Web Marketing Assistant, WebSan Solutions Inc., a 2014 Ontario Business Achievement Award Winner for Service Excellence
WebSan Solutions Inc. has expanded its product offering to better serve the small business market by offering Microsoft Dynamics NAV at prices starting at $39/month!
Small business owners have been looking for an affordable financial accounting system that can grow with their company, and WebSan Solutions has responded by introducing a small business offering which speeds up the implementation process and redefines the way Dynamics can be used.
WebSan Solutions Inc. is pleased to announce the launch of its fully-featured website http://www.SwiftDynamics.com. The new site will provide small business customers with information about Microsoft Dynamics NAV, our Rapid Start implementation services and access to extensive online training.
Microsoft Dynamics NAV is an Enterprise Resource Planning (ERP) software suite tailored for small to medium-sized businesses.
Dynamics NAV offers applications for multiple areas of your business. It is designed to work like other familiar Microsoft Applications and integrates with products such as Microsoft’s Office 365, Power BI and Microsoft Dynamics CRM.
Features will include:
- Financial Management
- Sales and Marketing
- Customer Service Management
- Fully-featured mobile Universal App
Swift Dynamics will offer Microsoft Dynamics NAV for the price of $99 per user/per month, with a lite user at only $39/month.
This price is a distinctive approach to offering Microsoft Dynamics NAV, where unlike other NAV partners who focus primarily on medium-sized businesses, Swift Dynamics will specialize in serving the financial accounting needs of small businesses, and serve as a financial software that will grow with their business over time.
“WebSan Solutions Inc. has always been the place to turn to when buying financial accounting software. We want the Dynamics community and our customers to know that Dynamics GP and CRM will always be a significant focus of our business. We are expanding our offering to serve the small business community better,” says Andrew King, Managing Director, WebSan Solutions Inc.
http://www.SwiftDynamics.com will be a completely separate site from http://www.WebSan.com, but will leverage the technology and outstanding customer service that WebSan Solutions Inc. has built and maintained over the past 15 years.
The site will be of tremendous value to entrepreneurs, business professionals and small businesses in making well-informed decisions about their financial needs.