Microsoft Dynamics NAV is an Enterprise Resource Planning (ERP) system that is specially made for growing small to mid-sized companies.
An ERP is software that integrates the internal and external management information across an entire organization. The purpose of an ERP is to facilitate the flow of information between all business functions inside the boundaries of organizations. An ERP system is meant to handle all the functional areas within an organization on a single software system. This way, the output of an area can be used as the input to another area, without the need to duplicate data.
Microsoft Dynamics Nav 2016 is a Role Tailored ERP. Traditionally, ERP software is built to provide a lot of functionalities where users will need to hunt down the information. This is more of a passive approach to information in which the user will need to go somewhere within the system to retrieve information.
Dynamics NAV works differently. The role-tailored experience is based on individuals within an organization, their roles, and the tasks they perform. When users first enter Dynamics NAV, they see the data needed for the daily tasks they do according to their role. Users belonging to different roles will have a different view of the system; each of them will see the functions they need to perform their daily tasks properly. Instead of the users chasing down information, the information comes to them.
Dynamics NAV covers the following functional areas inside an organization:
Financial management: Most of the functionalities of “off-the-shelf” accounting software can be found in this module. The features include but are not limited to, G/L budgeting, financial reporting, cash management, receivables and payables, fixed assets, VAT and tax reporting, intercompany transactions, cost accounting, consolidation, multicurrency, intrastate, and so on.
Sales and marketing: This is for the companies that want to track customer orders and determine when the items can be promised to be delivered to the customer. This area covers customers, order processing, expected delivery, order promises, sales returns, pricing, contacts, marketing campaigns, and so on.
Purchase: This module is required when you buy goods and services, and you want to keep track of what you have ordered from your vendors and when the products should be delivered to your door, so you can make the stuff or ship the stuff to your customers. This area includes vendors, order processing, and approvals, planning, costing, and so on.
In the past, Dynamics NAV had a single client access. But technology has changed and evolved and so has Dynamics NAV. The release of Dynamics NAV 2009 already brought two new ways of accessing the application: the Role Tailored Client and Web Services. Dynamics NAV 2016 also brings new accessibility options: the Web Client and the tablet client. It has also removed the accessibility option, the Classic Client, although it has been maintained and converted for development purposes.