Out with the old, in with the new. But wait…not so fast.
Transitioning to a new ERP often means uprooting the backbone of your entire financial system. You may be excited to move to that new ERP you’ve been planning for, but what about all that historical financial data that will be left behind?
On one hand, the data is static and won’t need to live in your active GL. So, there is no need to pay for the extra data storage or compromise the performance your new ERP system with large volumes of legacy data.
But on the other hand, there are times when you need that data for reporting purposes.
That choice between upgrading to the new GL you want, versus leaving behind the data that you need, is a choice that FYIsoft customers do not have to make. We give you full access to both. FYIsoft uniquely bridges your old and new GL data with our ConnectFYI® technology. Here’s how.
Let’s say your company is going through a Microsoft Dynamics 365 Business Central conversion and moving everything to the cloud from Dynamics GP.
Your ERP consultant wisely advises against the “garbage in, garbage out” approach, and recommends NOT converting your archived GL into the new system.
But you also know that although you won’t need that data on a regular basis, you WILL need it when you’re tasked with pulling historical data into your reports. Or, at minimum, during the transition phase when you will want to run the old and new systems side-by-side for accuracy checks.
FYIsoft’s ability to connect with multiple data sources through our proprietary ConnectFYI® technology makes it the ideal solution for this problem. In this scenario, we connect with each database and extract the financial data from both the live GL (Business Central) and from the archived, static GL (Dynamics GP).
The data is then transformed into a standardized reporting format and stored in our data mart, ready to be called for any reporting purpose needed – without compromising the performance of your new GL.
For FYIsoft customers, this multiple-GL consolidation is a simple process and requires only an extra connector – one that ensures your historical data remains accessible and reportable for as long as you need it.
Advantages of FYIsoft’s financial reporting software and our unique ability to bridge the gap when migrating to a new ERP system include:
- Allows finance to continually run the old ERP against the new ERP during the testing period to cross-check and ensure accuracy before cutting the cord.
- Enables a gradual move over an indefinite period of time, transitioning entities at your own pace.
- Does not slow down your new ERP system with large volumes of unnecessary legacy data including balances and transaction details.
- Avoids the costs involved with archiving financial data in a separate warehouse.
- Eliminates the need to manually export data from an archived database into the new system for historical comparisons.
- If finance is moving from Microsoft’s Management Reporter, automated conversion of existing reports and no learning curve.
Schedule a demo and see how FYIsoft can power your Business Central reporting while saving your historical financial data in Dynamics GP.