Microsoft Dynamics 365 Business Central provides a strong foundation for managing core financial operations. When paired with the Solver extended financial planning and analysis (xFP&A) suite, a new level of strategic insight can be unlocked, helping finance professionals and business leaders gain a complete, real-time picture of organizational performance.
The “x” in xFP&A stands for “extended,” meaning Solver can go beyond simple financial data and reporting. It enables the integration and analysis of data across the organization, incorporating information from areas like:
- Payables
- Receivables
- Job costs
- Other operational datasets, providing a 360-degree view of performance
This article, designed to accompany the video tutorial above, provides an overview of how Business Central with Solver xFP&A can help you transform your reporting.
Business Central With Solver xFP&A: A Complementary Pairing
Solver can transform Business Central transactional data into strategic insights. Here are a few ways Solver can enhance reporting and planning processes with Business Central.
- Seamless Integration: Solver can directly leverage your Business Central data. A core component is Solver’s data warehouse, which provides a secure, centralized repository to store and consolidate various datasets.
- Rapid Deployment: Through the Solver Marketplace, users can download pre-built QuickStart templates specifically designed for Business Central. The templates can be modified to help meet your unique business needs. A major benefit the templates can provide is speed: organizations can be up, running, and reporting in one day.
- Extensive Planning & Reporting: Solver provides dynamic reporting functionality using a familiar, spreadsheet-like, user-friendly interface. The Solver Report Design tool allows users to define report structures: rows, columns, dimensions, and parameters. Solver can readily create detailed forecasting and budgeting models and common financial reports, e.g., balance sheet, cash flow, profit and loss (P&L). Solver’s suite of tools also can automate financial consolidations across multiple entities and currencies, facilitating multicompany data analysis.
Examples in the video include:
- P&L Summary QuickStart Template: Showing budget data alongside actuals for quick variance analysis.
- Accounts Payable Detail Report: Highlighting Solver’s ability to pull and report on detailed non-general ledger data.
- P&L Forecast Summary: Supporting forward-looking financial discernments.
- Drilldown Capabilities: Allowing users to quickly and easily explore report details and gain deeper insights from summary data.
- Ad Hoc Reporting: Ad Hoc reporting in Solver can help finance professionals and business users answer business questions on the fly, create custom reports using a drag-and-drop interface, and leverage warehouse data from integrated systems like Business Central.
Also shown in the video is the “Assignment” functionality in Solver, aiding enhanced collaboration and workflow. This feature can help teams streamline and manage collaborative processes for budgeting, forecasting, and reporting. Users can assign specific tasks, set deadlines, track progress, and manage submissions and approvals. This can be particularly useful for coordinating input from various departments that use Business Central.
Layering Power BI for Advanced Visualization
Solver and Power BI also complement each other well, particularly by using the Solver data warehouse as a data source. Solver is well suited for structured financial planning and reporting, while Power BI can enhance reports with advanced visualization and dashboarding capabilities. Layering Power BI can be exceptionally useful for building interactive executive dashboards.
How Forvis Mazars Can Help
Solver xFP&A, with its integration and QuickStart capabilities for Microsoft Dynamics 365 Business Central, can provide a robust platform for budgeting, planning, and reporting. It can transform straightforward Business Central data into actionable insights, helping business leaders make informed decisions based on real-time data. The ease of use, familiar interface, and rapid deployment help make Solver an ideal FP&A solution for Business Central.
Ready to elevate your planning and reporting in Business Central with Solver? Watch the accompanying video tutorial to see Solver xFP&A in action with Business Central. For more information or to schedule a personalized demo, connect with us today. Business Technology Services at Forvis Mazars has certified partnerships with Microsoft and Solver Global. As a top 1% Microsoft Business Applications Partner, the technology consultants at Forvis Mazars can help you unlock new levels of efficiency.