Microsoft Dynamics GP (GP) is a widely used enterprise resource planning (ERP) software designed to help small and medium-sized organizations manage their finances, inventory, and operations efficiently. Despite its popularity and widespread adoption, it has been criticized for its lack of reporting capabilities. In this blog, we will explore why this is the case and how it affects your business.
The lack of reporting available in GP is a significant problem for organizations that rely on accurate data to make informed decisions. Reports are a vital tool for businesses to measure their performance, identify trends, and analyze their financial position. Unfortunately, Dynamics GP’s reporting capabilities are limited, making it difficult for users to generate the reports they need.
The problem with reporting from GP is twofold. First, the reports that are available out-of-the-box are limited in scope and customization. Second, creating custom reports requires technical expertise, making it difficult for business users to create and modify reports on their own.
Out-of-the-box, Dynamics GP comes with a set of predefined reports that cover basic financial and accounting functions. These reports include balance sheets, income statements, and cash flow statements, among others. While these reports are useful for getting a high-level view of a company’s finances, they often lack the level of detail that businesses need to make informed decisions.
For example, let’s say a business wants to track the profitability of each of its products. The out-of-the-box reports in Dynamics GP may not provide this level of detail, making it difficult for the business to make informed decisions about which products to focus on.
Another issue with out-of-the-box reporting in Dynamics GP is that the reports are not easily customizable. If a business wants to add or remove fields from a report, they often need to rely on a technical resource to make the changes. This can be time-consuming and expensive, especially for small businesses that may not have a dedicated IT staff.
One of the primary reasons for the lack of reporting in Dynamics GP is its outdated reporting tools. The software was first introduced in the 1990s, and since then, there have been many advancements in reporting technology. Dynamics GP’s reporting tools have not kept up with these changes, making it difficult for users to generate the reports they need.
To overcome the limitations of out-of-the-box reporting in Dynamics GP, many businesses turn to custom reporting. Custom reporting allows businesses to create reports tailored to their specific needs, providing them with the level of detail they need to make informed decisions.
However, creating custom reports in Dynamics GP requires technical expertise. Users need to have knowledge of SQL and the Dynamics GP report functionality, which can be a barrier to entry for many businesses. Additionally, the report editor in Dynamics GP is not as user-friendly as other reporting tools on the market, making it difficult for business users to create and modify reports on their own.
The technical nature of custom reporting also makes it difficult for businesses to make changes quickly. If a business wants to modify a report, they need to rely on a technical resource to make the changes, which can take days or even weeks. This can be frustrating for businesses that need to make decisions quickly based on changing market conditions.
Another issue is the complexity of Dynamics GP’s data structure. The software’s data structure is not user-friendly, and it can be challenging to access the data needed to generate reports. Users often need to write complex SQL queries to extract the data they need, which can be time-consuming and prone to errors.
To overcome the limitations of out-of-the-box reporting and custom reporting in Dynamics GP, many businesses turn to reporting add-ons. Most GP-compatible reporting add-ons are third-party tools that integrate with Dynamics GP and provide businesses with a more robust set of reporting capabilities. Microsoft offers Power BI, a data visualization platform with a native integration into Dynamics GP 2016 or newer.
Reporting add-ons typically come with pre-built reports that cover a wide range of functions, including financials, inventory, sales, and purchasing. These reports are often more detailed and customizable than the out-of-the-box reports in Dynamics GP. Additionally, reporting add-ons are often more user-friendly than the Dynamics GP report writer, making it easier for business users to create and modify reports on their own.
Reporting add-ons also typically provide businesses with the ability to create dashboards, akin to the functionality of Power BI, which can be useful for visualizing data in a meaningful way. Dashboards allow businesses to see key performance indicators (KPIs) at a glance, making it easier to monitor the health of the business in real-time.
The lack of reporting available in Dynamics GP is a significant problem for businesses using the software. Its outdated reporting tools, complex data structure, and limited customization options make it difficult for users to generate the reports they need. Without accurate and timely reporting, organizations are unable to make informed decisions about their finances and operations. Fortunately, there are solutions available, such as third-party reporting tools. By investing in better reporting capabilities, businesses can improve their financial performance, make informed decisions, and achieve their goals. If you’re struggling with getting the data you need out of GP, UniverseIT has a staff including Dynamics GP functional and technical resources that would be able to guide you towards the best solution for your reporting challenges. Give us a call at 1-833-HIRE-UIT (447-3848) or send us a message and we’ll be happy to help.