Microsoft Dynamics NAV is ERP software which provides an easy to use business management solution. Navision is basically a product of Denmark based company Navision Software which merged with Microsoft in 2002. NAV is better than Microsoft Dynamics GP in the way that it can provide multi site features but its core accounting modules and functionalities such as integration to other modules is not strong.
The software has mainly been implemented in industries in light manufacturing and assembly operations, retail sectors, construction and multiple site companies which are into international distribution.
Features of Microsoft Dynamics NAV
1. The software is strong in providing localized solution which includes tax calculation as per international standards and it can be integrated to CRM of Microsoft Dynamics.
2. Its strength lies in multi-site feature which is better than Microsoft GP.
3. It is priced between Microsoft GP and AX. It is simple software, easy to use and configure.
4. Some of the modules of the software are business intelligence, financial management, human resource management, manufacturing, multi site international, project management, sales and marketing, service management and supply chain management.
a. Business intelligence features provides fast business decisions and the analytical tools can be used to manage budget, create reports and search for new relationships.
b. Financial accounting module provides help to track and analyze the accounting and business information. All the financial processes including transactions in multi currencies, multiple companies and multi locations can be carried out through the module. The information provides an easy option to search for trends and get a clear idea of business activities.
c. The HR module helps in controlling and organizing information of employees.
d. Manufacturing modules helps in boosting operations and to manage production. Multi site and international features allows the organizations to operate comfortably at multiple location and countries.
e. Sales and marketing modules helps the people of the organization to manage contacts, opportunities, helps in building customer relationships and improving sales.
f. Service Management helps in responding quickly to the customer service requests and helps in making decisions regarding costs, workloads, financial returns and inventories.
g. Supply Chain Management helps to respond to customers and search for new market opportunities. XML features can be used to exchange online information and to communicate with supply chain partners.
h. Business Analytics helps the organizations to create employee monthly reports, use OLAP to create reports from general information and make use of Data Transformation Service.
5. Microsoft Dynamics NAV is object oriented which helps it to be integrated with other environment and provide a secure solution on network.
6. The software provides easy option to integrate various business functions to get an out-of-box solution to industries. It provides industry specific solution.
Drawbacks of Dynamics NAV
Some of the disadvantages are use of region specific terminologies and unstable publisher strategies. It is less flexible as compared to Microsoft GP and Microsoft AX. Many experts believe the software solution suits the needs of certain organization and it may not be cost effective to implement if too much modifications and customizations are is needed.