Melbourne-based Evolution Business Systems (EBS), has deployed Microsoft Dynamics NAV for ASX-listed risk management services company, Greencap.
Since the deployment, Greencap has gained real-time reporting across its multinational operations and saved more than $130,000 per year.
Microsoft Dynamics NAV lets Greencap run organisation-wide reports in seconds on critical issues such as resource utilisation, project profitability and financial performance. Previously, compiling monthly board reports across the company could consume more than 30 days of productive time.
Greencap has more than 400 professional, technical and engineering staff located in 16 offices and services more than 5000 business and government entities in the education, property, resources, industrial, manufacturing, retail and services sectors.
In 2010, Greencap recognised that its financial management systems were holding it back, so it started looking for a replacement. Dubbed Project One, the initiative began by identifying financial software that offered end-to-end integration, usability and the ability to evolve and scale to meet future needs.
EBS deployed Dynamics NAV in strategic stages during a 14 month period.
“By centralising the business into one financial framework, Dynamics NAV can tell us how our consultants are delivering and it allows us to perform analytics that identify the quality of the revenue. Timesheet compliance is significantly enhanced since the introduction of the NAV portal,” Greencap Group commercial manager, Peter Mitchell, said.
“Dynamics NAV also helps with our management of projects. At any point during the project, we can send out invoices. While this was possible previously, such progress payments were not consistent. Now time is measured, allocated to projects and project managers have clear visibility of their projects. They can connect with clients, identify where project risk exists and manage the project accordingly.”
Microsoft Dynamics NAV has also reduced the time required for month end reporting by at least a week and executives don’t need wait for subsidiary companies to file individual reports. They can now run company-wide performance reports at any time from anywhere.Read more: EBS passes Microsoft Dynamics NAV test
Microsoft Dynamics NAV has also eliminated the need for inter-company invoicing by providing company-wide visibility of available resources. Greencap can now efficiently allocate those resources throughout the group without cumbersome paperwork. As well as allowing for more accurate project quoting, it reduces the need to draw on external resources to deliver projects.
Dynamics NAV also provides complete visibility of timesheet entry compliance. Greencap estimates that it has saved more than $130,000 annually through greater timesheet compliance and entry efficiency, invoice processing, improved administrative workflows and reduced paperwork.