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IOM3: Dynamics 365 Customer Case Study

IOM3

The Institute of Materials, Minerals and Mining (IOM3) is a major UK engineering institution operating in the not-for-profit sector and is the focus for this Dynamics 365 case study. IOM3 sought a trusted Microsoft Gold partner with over 30 years’ experience in the sector to assist with updating their existing finance system. Operating from CODA Dream, reporting functionality was both restrictive and cumbersome; data was difficult to extract from the system and manual manipulation was required to format for business use. Faced with prohibitive upgrade costs and a requirement to gain more value from a system that provided improved functionality, IOM3 acknowledged that a new system was required.

Held to ransom by high upgrade and maintenance costs, IOM3 were looking to protect themselves from reoccurring expenditure and required a solution that would offer flexibility and future proof their organisation against any technological changes.

After conducting a review of their businessdynamic 365 business central operations, Microsoft Dynamics 365 Business Central was chosen as the solution to provide IOM3 with the new financial management system they needed to deliver their requirements and drive real business growth.

Keen to implement the solution, complete installation was planned and performed in just a twelve week timeframe. Xpedition created a detailed and comprehensive project plan in partnership with IOM3, to deliver: development, reporting requirements, data migration and training. During the project, regular meetings were conducted to ensure both parties were on track and communication was effective in delivering the desired final outcome.

Moving away from an on premiseDynamics 365 case study setup was key. IOM3 were looking to reduce their maintenance costs and minimise their need for expensive hardware and IT training to manage their existing system.  A cloud based solution was the obvious choice. By utilising Dynamics 365 Business Central, IOM3 were able to benefit from clear and consistent SaaS licensing costs. Meaning, they could eradicate all their on premise costs and confidently budget for future expenditure – no more nasty surprises. Furthermore, being on the cloud also delivered improved data security and access. With Azure Cloud, IOM3 now had the peace of mind that their data is always safe and easily accessible from any device, anywhere and at any time.

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Reporting was a significant area were improvements needed to be made. Previously, IOM3 were confined to building reports within their outdated system. This drastically hindered their production, functionality and flexibility. By integrating with Microsoft Office, they were now about to report on their data directly in Excel and make huge efficiency gains. With improved management and statutory reporting, IOM3 are now benefiting from a system that provides easy to use reporting tools to deliver ad-hoc enquiries both efficiently and accurately.  And with Outlook integration, documents such as remittance, sales invoices and customer statements can be emailed directly – all of which comes as standard functionality for Dynamics 365 Business Central.

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IOM3 also wanted to split their existing company account over four separate entities. After working closely together and mapping out all their requirements, Xpedition were able to achieve multi-entity accounting and deliver a more cost effective accounting platform for IOM3’s operations. Alongside the implementation of cash flow and automatic bank reconciliation functionality, a new finance system was now in place that matched the needs of the organisation and enabled them to run a more efficient finance function and drive more value for the project.

Data migration is often a challenge in a project of this nature. However, with decades of experience in the field, Xpedition were able to deliver the requirement of retaining two years’ worth of historical data. Even with the additional complexity of multi-entity accounting and rebalancing the company ledgers, by working alongside IOM3 we were able to deliver an effective solution, on time.

Once a training needs assessment had been microsoft gold partnercompleted for each employee, a rolling program of training began. Personalised training was then provided to ensure that IOM3 staff were completely confident with the system and could perform independently in the future. Ongoing support was also delivered to provide complete peace of mind for the organisation.

The project was a huge success, being delivered both on time and on budget. This was achieved by working closely with IOM3; by questioning the nature of their business, we were able to achieve improvements in functionality that would increase productivity, reduce costs and provide a more pleasurable experience for the end user. IOM3 now have a system in place that will not only provide future value to their organisation, but is adaptable and flexible enough to manage technological change and drive real business growth.

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If you would like to explore the world of next-generation financial management systems and start benefiting from the power of Microsoft Dynamics 365 Business Central, then contact us today to speak to an expert. This is a journey we have taken many times before. With the industry’s leading expertise, we are perfectly positioned to guide your path to growth.

What a shorthand Dynamics 365 case study looks like:

  • IOM3 attended our Business Central event on 22nd May 2018
  • Meeting arranged to discuss requirements on 29th May 2018
  • Proposal submitted 4th June 2018
  • Functionality workshop 5th July 2018
  • Signed contract 23rd July
  • Project started August 2018
  • Go Live October 2018