Brilliant Idea #14 Oil & Gas Company Uses Collections Management to Improve Cash Flow with Microsoft Dynamics GP

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An oil and gas company was having trouble keeping up with the increase in the volume of their business — measuring the profitability of each of their 100+ delivery trucks and managing receivables for over 2,000 accounts. Their financial reporting and analysis was manual and extremely time consuming, dependent on multiple Microsoft Excel spreadsheets. Incomplete data integration with haphazard data pulls led to untrustworthy reports and financial statements.

With the help of Microsoft Dynamics GP and an experienced partner they got their financial house in order and transformed their accounts receivable process.

Using Microsoft FRx reporting, the company now has a Profit and Loss statement for each truck unit reflecting the revenue and costs including repairs, maintenance, fuel, tires and GPS tracking.

In addition, Collections Manager in Microsoft Dynamics GP has streamlined the accounts receivable process making it easier to manage the 2,025 invoices they send out each month. System reminders and automatic past due notices have reduced of errors and improved cash flow. The company is reenergized and poised to fuel growth.

Submitted by Sherwood Systems, www.sherwood.com

This is just one example of how to outsmart the competition using Microsoft Dynamics ERP. Download the full white paper today for more examples “25 Brilliant Ideas to Outsmart Your Competition with Microsoft Dynamics ERP” at www.erpsoftwareblog.com/brilliant-erp as a PDF or MP3 audio.