Microsoft Dynamics NAV signals the end of Paper Based Financial Documents

Microsoft Dynamics NAV signals the end of Paper Based Financial Documents

Equisys, developer of software solutions for document production and delivery, today announced the launch of Zetadocs for Microsoft Dynamics NAV. This new integration with Microsoft Dynamics NAV is being showcased at Convergence EMEA, the premier Microsoft Dynamics event, being held in Copenhagen between 23rd and 25th October.

The NAV ERP software has an install base of over 67,000 customers with over 7,500 of these added since 2005. Its tight integration with the `stack` of other Microsoft office applications makes it a compelling offering for businesses.

However, as with other ERP systems, many customers still depend on paper for the production and management of key financial documents. The launch of Zetadocs for NAV will enable users to eliminate paper entirely from their finance processes by switching to electronic document production, delivery and management. Equisys claims that the Zetadocs for NAV still manages to maintain the same high standards of quality, compliance and security as the traditional paper based system.

The unique advantage of Zetadocs is that it provides comprehensive electronic document production and management from NAV; incorporating the capture of inbound documents, adding automatic document creation and delivery and then enabling secure storage via Microsoft SharePoint® with instant access for authorized users.

Microsoft UK’s NAV Product Marketing Manager, Steve Farr, commented “The addition of an add-on application like Zetadocs for NAV provides even more reasons to choose NAV as your preferred ERP solution. I would suggest Zetadocs is something that all NAV customers could consider investing in.”

Commenting on the cost of production and storage of paper documents, Chris Oswald, CEO of Equisys, explained “Paper based management of financial documents hurts business in three key areas. First, the productivity of accounts personnel always suffers whenever they are required to produce large numbers of statements or invoices. Production of just 1,000 paper based invoices per month can amount to annual costs of over £7,000 based on the cost of materials and the time spent producing the documents. In addition, most businesses will retain paper copies of these documents, spending up to £500 rental space per filing cabinet to maintain day-to-day access and adhere to compliance regulations.

“Next, the mailing of the invoices or statements also has a direct impact on the bottom line of any business. Simply mailing 10,000 invoices a year amounts to a cost of over £3,000.”

“Finally, financial information retained within the ERP system is often required by many departments in the organisation, but gaining access to this information generally has to involve the accounts team, soaking up valuable time. Other staff will not have the expertise to use the software or they will be unable to access it because of the restriction on licenses.”

Zetadocs for NAV delivers significant savings in each of these three key areas of business cost. It enables accounts personnel to produce automatically `print quality` electronic documents; it manages batch deliveries by customers’ preferred method of receipt; it then automatically archives documents to SharePoint where they can be viewed by authorized personnel across any department.