KPMG Crimsonwing (Malta) has recently completed the implementation of Jet Reports for Microsoft’s Dynamics NAV financial accounting system at a Maltese telecommunications provider.KPMG Crimsonwing is a Microsoft Gold Certified Partner and continuously achieves Microsoft’s highest accreditation standards.
The provider already uses Microsoft Dynamics NAV for its accounts. Due to ever increasing management reporting demands, which are typically very labour intensive, the management decided to invest in a more automated reporting application to simplify the financial reporting process.
The solution chosen was Jet Reports, an application that connects natively with Dynamics NAV. Jet Reports updates its reports automatically once new data has been posted into the accounting system. Moreover, it presents its results in the form of Microsoft Office Excel spreadsheets, which most office staff today are familiar with. The package gives users a more flexible platform from which to generate a dashboard, reports and presentations.
“We are pleased that our expertise with the various Microsoft products has enabled us to provide a viable solution for the company. It was a straight-forward task to add Jet Reports on top of Dynamics NAV and create the required package for management reports. This shows how flexible the two products are”, commented Mr David Caruana, Project Manager at KPMG Crimsonwing.
The benefits accruing from Jet Reports are not nearly limited to the points mentioned above. KPMG Crimsonwing prepared a customised management pack for the various companies within the group. It is now possible to switch from viewing the results of one subsidiary to those of another, almost at the touch of a button. It takes minutes instead of hours to generate complex reports. Apart from enormous time savings, this means that the management can run the reports more frequently and keep closer to the pulse of the business.
The company’s Financial Controller commented that: “The introduction of Jet Reports has had a significant impact on the way management accounts are now used. The time taken to generate them has dropped significantly. They are run more frequently, so management is always kept up to date. Viewing the financial situation across all the companies within the group is now a much simpler task.”
Increased automation means that there is less risk of human error, particularly when passing adjustments. Since the reports, even consolidations for the whole group, are updated so quickly, entries can be reviewed to see their impact on the results straightaway. An added benefit is that this reporting tool gives the company one consistent view of the whole enterprise, since the basis of management accounts is now the data in Dynamics NAV without manual adjustments.
As the example of the company shows, Jet Reports combines features which make it particularly useful to a group of companies. Particularly the benefit of the reports being generated in Microsoft Office Excel format, which is used in most offices, makes it easy for the staff to read, manipulate and change existing reports, as well as create new ones. When requirements change, it is a simple matter to amend or add a report. Reports can also be distributed automatically to the people who need access to them both internally and externally, for example to the management as well as third parties, such as auditors and the like. The access format can be varied so that recipients can either manipulate the results or only be able to read them, depending on why the user needs it.