AI and Finance – A Revolution in Financial Reporting (Data Courage)

Posted on 27 December 202427 December 2024 by itvision

In finance, accuracy is essential, and the margin for error is minimal. This is why artificial intelligence has become a game-changing solution in financial management, especially when integrated with a comprehensive ERP system like Microsoft Dynamics 365 Business Central.

The Role of Artificial Intelligence in Microsoft Dynamics 365 Business Central

The introduction of AI into financial management through systems like Microsoft Dynamics 365 Business Central is truly revolutionary. It’s not just about automating tasks, but enriching the financial module in Business Central with intelligent analytics that only AI can provide. From automating profit and loss reports to offering predictive analytics – AI equips professionals with tools that once seemed like the domain of science fiction.

AI in Finance: Accurate Predictions – Data-Driven Decisions

Artificial intelligence in finance is not limited to automating simple tasks. It is primarily about transforming the way we handle complex processes that traditionally required hours of work from skilled financial experts.

By leveraging AI in the finance sector, we are witnessing a significant reduction in manual labor – which in turn leads to fewer errors and greater accuracy in financial reports. One of the most important functions of AI in financial management is its ability to conduct predictive analytics. By analyzing past financial data, AI can identify trends that may not be immediately visible. This provides financial experts with better insight into what might happen in the future, allowing them to make data-driven decisions.

Such analyses are made possible by Financial Intelligence – an AI-powered tool that not only generates but also analyzes financial reports, which you can easily tailor to your company’s needs. Ask about our offer.

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AI-driven Insights (multilingual): evaluation and recommendations
AI Created Template P&L and Balance Sheet Reports Generation
Interactive Q&A – ask questions and receive answers in any language you want
Version Control for multiple Financial statements
Automatic Mapping of GL Accounts

The Role of Artificial Intelligence in Financial Management

Although Microsoft Dynamics 365 Business Central already provides a solid foundation for financial management, integrating with specialized applications can significantly enhance its capabilities. Such integration enables companies to draw more precise insights from financial reporting, transforming raw data into a strategic tool that can give businesses a competitive edge. With this integration, companies can streamline their financial processes, allowing finance professionals to spend less time processing data and more time on analysis and strategic development.

The role of artificial intelligence in financial management will continue to grow in the coming years. This combination can provide companies with the competitive advantage needed to maintain an edge in a competitive market.

The AI-powered Financial Intelligence app for Business Central is available for download and testing on Microsoft AppSource. If you would like to learn how AI solutions can improve financial management in your company, get in touch with us using the form below.

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IT Vision and Engave cooperation

Posted on 4 February 20214 February 2021 by itvision

For over 20 years, IT Vision has been involved in improving the work of enterprises by implementing ERP, CRM systems and Business Intelligence solutions. IT Vision makes sure that its customers enjoy high-quality products and professional service. The company cooperates with industry leaders, especially in production, distribution and professional services. IT Vision employees constantly increase their competences, thanks to which they implement the latest solutions for their customers.

Engave specializes in the digital transformation of companies. It helps them to grow, to become more competitive. The company provides strategic technology consulting services and implements IT tools and solutions.

Establishing cooperation between Engave and IT Vision is not only about increasing the competences of employees of both companies and extending the offer for their clients. Thanks to the cooperation, the companies will jointly implement modern projects, increasing the potential of customers and improving their work.

The cooperation between IT Vision and Engave will not only allow for joint implementation of projects, but also provide even better customer service. Thanks to the established partnership, customers will have access to the offer with a wide range of high-quality services.

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Dynamics 365 in the cloud at an even better level

Posted on 5 January 202112 January 2021 by itvision

Thanks to the cooperation with 1ClickFactory, we can offer Dynamics 365 in the cloud at an even better level.

“We extend our offer, among others in the CSP channel. I.e. providing cloud services that enable our clients to reduce the usually quite significant costs of creating and maintaining infrastructure when launching ERP systems.
Together with 1 ClickFactory, we have already launched the first projects, incl. Business Central on Cloud. The combination of expert knowledge and experience of my colleagues from the Dynamics365 implementation team in combination with the support of Azure experts for our clients can be a guarantee of successful implementations”
Sylwia Wójcik General Manager, IT Vision

1ClickFactory is one of the leading companies worldwide. With a pure business focus to help customers move to the newest cloud versions. The company will support us in providing our customers with Microsoft cloud-based solutions. As a result, users will have unlimited by time and place access to the system. In the case of cloud solutions, it is worth emphasizing that they don’t require investments in equipment or technical facilities. Thanks to the cooperation with 1ClickFactory, we can offer Dynamics 365 in the cloud to at even better level.

Safe landing in the cloud

“1ClickFactory, who is a certified development center for Microsoft. We are on the market to support partners in Central and Eastern Europe in implementing Dynamics 365 in cloud version. 1ClickFactory is very much looking forward to start the journey with IT Vision. And help their customers land in the cloud. We believe that with combined knowledge from IT Vision and 1ClickFactory experts Dynamics365 customers will get access to Microsoft cloud solutions on the highest level”
Iza Karpowicz, 1ClickFactory representative for Poland, adds.

Dynamics 365 in the cloud – What does this cooperation mean for you as our customer?

With more than 100 Dynamics 365 and Azure experts, 1ClickFactory will support us in providing customers with Microsoft cloud-based solutions. As a result you will:

have no limitations to access the system neither from time, nor place perspective
avoid investments in equipment or other technical facilities
be advised on the best approach to move your company’s ERP/ERM to cloud

Moving to the cloud is the future

Together with 1ClickFactory, we strongly believe that moving to the cloud is the future. That is why we encourage all companies that want to outstand the competition and be the first to gain the cloud benefits the cloud is offering not to delay the decision and complete the migration. (Or at least build the strategy to do it) now.

Learn more about Dynamics 365 Business Central

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Cloud migration – how to do it right?

Posted on 2 October 202012 January 2021 by itvision

Cloud migration is getting more and more popular. Almost everywhere you can hear about pros of cloud solutions. Paweł Prymakowski, CEO of IT Vision was a speaker at the meeting 1ClickToExpand: 10 creative ways to overcome the obstacles of system upgrade to Dynamics 365 Business Central. Paweł and other panelists were looking for the best way to overcome the limitations of upgrades.

As main obstacles of migration to the cloud speakers listed users’ attitude, competences, technical limitations (data size, warehouse) and business issues (mainly financial issues).

Two ways of cloud migration

Paweł emphasized that as an implementation partner, we offer our customers two ways of implementation. The standard SaaS (software as a service) cloud implementation is an excellent choice for smaller customers. It’s a cheaper solution that offers standard Business Central functions. The second solution that we propose to our customers is hybrid implementation (on Azure). This type of deployment is an appropriate path for larger customers. The hybrid approach allows to run individual functions, transfer large amounts of data or effectively integrate Business Central with other (external) customer systems.

Database

For large companies using Dynamics NAV or Business Central solutions, the database limit can be a big obstacle in moving to the cloud in the SaaS model (software as a service). The solution is to use the PowerPlatform technology to store some data (e.g. scans) outside the ERP system itself

The participants of the meeting also noted the problem with localization, the need to learn new solutions, competency shortages or the reluctance of users to migrate to the cloud.

How to improve cloud migration

However, the panellists did not stop at listing the limitations. They proposed their own ideas that can improve migration to the cloud.

A clear set of procedures on how the partner can maintain control of the BC SaaS installation.
Clear list of differences / benefits, moving to the cloud.
Finding 5% of partners as pioneers and supporting them on their way.
Migration of customers at every noticed opportunity (even if they are small projects or it’s just a clean start) to Dynamics 365 SaaS now to gain additional visibility from the market and Microsoft.
Review the solutions and consider whether the company can run smoothly with the standard features of Business Central.
Using a different technology to store information outside the Dynamics 365 Business Central warehouse
Microsoft should introduce a different data storage configuration according to the standard functionality
CEE market partners should be proactive and suggest / vote for the functionality they need in Microsoft
Training is needed in building the competencies of solution architects

We believe that the move to the cloud is the future. Therefore, we encourage all companies that want to be pioneers and be the first to use cloud solutions that bring competitive advantages to full migration. However, we do not leave other customers without a solution. We are happy to offer them a hybrid migration to the Azure cloud.

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Extended analytics, reporting and Business Intelligence

Posted on 6 April 202011 January 2021 by itvision

Solution at the highest level

Extended analytics, reporting and Business Intelligence at the highest level? Fast and easy data access? It is possible thanks to cooperation between IT Vision and Data Courage from the Jet Global group.

Thanks to the established partnership, we can offer additional solutions for Microsoft clients developed by Data Courage. Reporting, data visualization, analytics, budgeting are just some of the areas that you can improve.

Reporting

Thanks to a specially prepared reporting module, you will not only gain access to all necessary data. Data Courage solution allows you to visualize data in any way you choose. The module is also adapted to advanced business reports. With Data Courage you can forget about the “copy-paste” function.

Reporting from Data Courage automatically retrieves data from Excel and immediately allows you to design reports and use them. What’s more, the installation takes only one day!

Download – more about reporting

Data visualization

Data visualization is based on Power BI from Microsoft. The interface is easy to install and allows users to plan and perform tasks faster. The solution extends the capabilities of Microsoft systems. Installation is fast so that companies immediately have access to their business data and can quickly run their own KPIs. This allows you to increase your strategic advantage.

Download – more about data visualization

Extended analytics

The Data Courage analytics module allows you to collect all data in one place. Thanks to this, all employees have access to data and receive the opportunity to perform advanced analyzes from anywhere, without the need for technical knowledge.

The analytics module is available through a web browser and offers quick and flexible desktops and reports in Excel. It allows you to quickly transform data into useful information.

Download – more about analytics

Budgeting

The Data Courage module gives you greater control over the budgeting process and streamlines it. It is a flexible and easy-to-use financial planning solution.

The module allows you to adapt the structures to the budgeting methodology and saves time and resources.

Download – more about budgeting

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