As a government contractor, you know that managing financial data effectively is critical. However, with technology evolving, legacy software systems like Dynamics SL are no longer up to your needs. If you are considering updating your financial management system, there is a growing need for a more efficient and cost-effective system that can handle the complexities of today’s government contracting landscape.
In this white paper, we will explore the challenges that government contractors face when contemplating a migration from Dynamics SL and provide insights into why GovCon365, powered by Microsoft Dynamics 365, is a great solution to move to.
The Challenges of Using Dynamics SL for Government Contractors
Dynamics SL is a robust financial management system that offers functionality and features tailored to government contractors. However, it has its shortcomings, making it challenging to manage finances effectively. Here are some of the challenges that government contractors face:
Limited Functionality
Dynamics SL lacks some of the modern features and capabilities that government contractors need to compete in today’s market – most notably automation and real-time reporting. You need powerful tools to automate intricate workflows to compete with larger companies, such as project cost accounting and billing.
Poor Integration Abilities
Dynamics SL is a standalone system that doesn’t integrate with many other software systems. For example, if you’re using a timekeeping software system or a project management system, you’ll have to resort to manual entry or use a third-party integration tool.
Cost and Maintenance
As Dynamics SL is an outdated system, it becomes increasingly challenging and more costly to maintain. You’ll also likely need to purchase add-ons or other software to enhance its functionality, increasing ownership costs over time.
Why GovCon365 and Microsoft Dynamics 365 are a Great Solution to Move to
GovCon365, powered by Microsoft Dynamics 365, is an excellent solution to consider when migrating from Dynamics SL. Here are some of the benefits that government contractors can gain:
Advanced Functionality
Microsoft Dynamics 365 offers advanced functionality and features to help government contractors manage their finances more effectively. From project cost accounting and billing automation to real-time reporting, Dynamics 365 provides capabilities enabling contractors to improve their workflows and compete in today’s market.
Seamless Integration
Dynamics 365 seamlessly integrates with other Microsoft products such as Office 365, Power Apps, and Power BI. It also offers open APIs, allowing contractors to integrate with other line-of-business systems, timekeeping software systems, or project management software they may use, ensuring that data is integrated without manual entry or third-party integration tools.
Cost Savings
Microsoft Dynamics 365 offers a cloud-based solution, meaning infrastructure or hardware investments are unnecessary. This results in significant cost savings as there are no added expenses for buying, maintaining, or upgrading servers. Additionally, Dynamics 365 provides automation, which can save time, money and improve productivity across various functions.
High-Grade Security
Dynamics 365 is built with advanced security features such as multi-factor authentication, encryption technology, and threat management to ensure that your data remains secure. Security features ensure compliance with industry standards such as SOC 1, SOC 2, and ISO 27001, which are required for government contracts.
Conclusion
Migrating from Dynamics SL to GovCon365, powered by Microsoft Dynamics 365, can help resolve the challenges posed by Dynamics SL. Dynamics 365 offers advanced functionality, seamless integration, cost savings, and high-grade security, enabling contractors to manage their finances more effectively and be more competitive in today’s market.
At GovCon365, we recognize that the migration process can be challenging, and we are dedicated to helping our clients make the transition seamlessly. Our team of experts can help you define your requirements, choose the appropriate solution, migrate your data, and implement your new system effectively.
In conclusion, Dynamics SL is outdated and no longer up to the task of handling complex workflows in government contracting. Migrating to a solution like GovCon365 powered by Microsoft Dynamics 365 solves the challenges posed by Dynamics SL and provides added value, enabling contractors to manage their finances better and be more competitive.