CHICAGO (April 4, 2016) – Complex businesses often establish a shared services model for their organizations to increase operational efficiency, improve enterprise-wide financial visibility or to realize post-acquisition cost synergies. Previously, finding an enterprise resource planning (ERP) system to support these operational changes while still providing near real-time financial insight had been a challenge. However, organizations can now use the new Crowe Financial Accelerator for Microsoft Dynamics AX to manage centralized and decentralized operational and financial functions within their ERP system. The accelerator was developed by Crowe Horwath LLP, one of the largest public accounting, consulting and technology firms in the U.S.
Microsoft Dynamics AX is an ERP system that consolidates business operations into a single, familiar Microsoft technology platform. Additionally, the release of the new cloud-based Dynamics AX enables businesses to make smarter decisions, redesign business processes faster and fuel business growth with a flexible, user-focused solution.
“Corporations need the ability to structure their organizational model to best serve their customers without worrying about the impact these organizational changes may make on their financial processes. However, management still needs a real-time, comprehensive view of the overall financial position across the enterprise,” said Simon Riley, leader of manufacturing and distribution performance consulting at Crowe. “We applied Crowe’s deep experience in accounting, risk, compliance and supply-chain management to the already successful Microsoft Dynamics AX platform to provide enhanced shared services capabilities, best-practice financial controls and complex reporting and enterprise financial functions to the ERP platform.”
The Crowe Financial Accelerator was developed for both companies already using Microsoft Dynamics AX and those considering a change in ERP platforms. Using the Crowe Financial Accelerator in combination with Microsoft Dynamics AX, an organization can centralize sales, purchasing, accounts receivable and accounts payable, treasury and inventory management. In addition to the enhanced Dynamics AX shared service functionality, the Crowe Financial Accelerator features:
- Best practices for financial consolidation;
- Standardized financial operations and processes;
- Streamlined financial period close; and
- Optimized configuration for financial reporting, compliance and controls.
According to Riley, Crowe implemented the Crowe Financial Accelerator for a manufacturing firm that recently made all of its divisions separate legal entities. The accelerator allowed the manufacturer to keep its financial framework centralized and provide oversight of the organization as a whole, even though the divisions were now separate.
For more information, please visit www.crowehorwath.com/cfa-nr.
About Crowe Horwath
Crowe Horwath LLP (www.crowehorwath.com) is one of the largest public accounting, consulting, and technology firms in the United States. Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk, and performance services. Crowe serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 120 countries around the world.