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Binary Stream Software is proud to collaborate with Progressus, a dynamic project management solution, to introduce the new Progressus Project Multicompany solution. This innovative partnership aims to empower businesses with effortless multi-company management capabilities, revolutionizing the way transactions and financial oversight are handled across entities.

This project introduces a range of benefit-driven features designed to simplify complex accounting tasks, enhance financial oversight, and improve organizational efficiency.

“Simplified financial management is crucial for businesses operating across multiple entities,” says Lak Chahal, CEO at Binary Stream Software. “Together, we’re providing businesses with a comprehensive solution that streamlines multi-company management, allowing for efficient processing of transactions like timesheets and expense reports across entities from one entry point.”
Key features of the solution include:

Businesses can seamlessly manage multiple entities within Dynamics 365 Business Central, ensuring a unified management experience. With Progressus Project Multicompany, companies can streamline transactions across entities through a single entry point for timesheets, expense reports, and more, saving valuable time and reducing operational complexity.

“Together, we’re providing businesses with a unified and efficient management experience, simplifying transactions, and enhancing operational efficiency,” says Lak Chahal.

This integration also optimizes front-end and back-end operations, enabling businesses to streamline customer-facing and administrative tasks for improved operational efficiency. For more information about Progressus Project Multicompany and how it can revolutionize multi-company management for your business, please visit this website.

As companies navigate the decision of whether to centralize or decentralize their accounts payable processes, it’s crucial to weigh the pros and cons of each approach. In our comprehensive booklet, we delve into the intricacies of accounts payable processing and explore the benefits and considerations associated with both centralization and decentralization. Here are 5 key takeaways that companies will gain from this valuable resource:

These are just a glimpse of the valuable insights and knowledge packed within our booklet. Companies seeking to optimize their accounts payable processes and make informed strategic decisions will find a wealth of information that helps them evaluate the benefits and trade-offs of centralization and decentralization.

By empowering organizations with critical information and guidance, we aim to support them in achieving streamlined operations, enhanced control, and sustainable growth. To access the complete resource and unlock the full potential of accounts payable, download our booklet today. Gain a competitive edge by making informed decisions that drive efficiency, financial control, and overall success.

Are you struggling with invoicing processes that lack visibility and control across multiple locations? Do you want to streamline your accounts payable (AP) processes and automate invoicing to reduce errors and increase efficiency? If so, you need to check out the American Software case study.

The Atlanta-based company faced several challenges due to its holding company structure and lack of automation, which were compounded by the COVID-19 pandemic. However, by implementing a custom combination of KwikTag and Multi-Entity Management (MEM), American Software saved $50,000 in the first year, automated and streamlined its AP processes, and established itself as a source of truth for its accounting department.

The MEM solution allowed them to manage multiple entities across states and countries, reduce errors and time required for reconciliations, track bills and invoices more efficiently, and streamline intercompany payments. The solution was fully integrated within just 30 days, and the team could work safely from home during the pandemic, boosting morale and productivity.

You can download the case study to learn more about how American Software improved its invoicing processes, reduced errors, and increased efficiency. You will discover how the company improved internal control and credibility, simplified audits, consolidated emails related to approvals, and saved valuable time and resources.

Don’t miss the opportunity to learn how American Software overcame challenges and improved its invoicing processes with KwikTag and MEM. Download the case study today and see how you can achieve similar results for your organization!

Recent years have seen a rise in the number of transactions taking place between related companies. Intercompany accounting has become a fact of everyday business, yet, despite this, many remain unaware of the best practices for managing intercompany transactions or have a plan in place to mitigate the risks presented by some of the bigger challenges or issues that can arise when handling high volumes of transactions between related organizations.

This booklet covers the following core topics:  

Download our booklet so you can implement best practices for solving the five core challenges of intercompany transactions your team is likely to face.

Introducing our intercompany accounting solutions   

Streamline your intercompany transactions and simplify accounting across multiple entities with the power of our industry-leading solutions. Enable compliance, automate reconciliations and eliminations, and maintain a centralized source of truth between entities. If you’d like to partner with a team that will be with you every step of the way, then we’re here to help.  When we work with your company, you don’t just get a solution, we put our best people at the heart of your roadmap to success.

As you may already know, Microsoft recently introduced a new feature with the Dynamics 365 Business Central (D365 BC) 2023 release wave 1, which allows for the replication of data between companies within a single environment. While this new built-in functionality is an exciting next step for the ERP building in some of the features previously only available with our Multi-Entity Management (MEM) solution, there are still many areas where MEM will be critical to managing the complexity of multi-company accounting.

After conducting a side-by-side functionality comparison, we decided to document the functionality of both, so that partners and customers can quickly determine which tools they need to empower success for their organization. Depending on the setup’s complexity, most medium- or larger-sized companies will likely require MEM. That means you and your customers must consider the nuances of functionality needed before setting up multi-companies.

To help you understand the differences between the solutions, we’ve created a detailed comparison sheet which you can download by clicking on the links provided below:

We hope that this information helps you make an informed decision about which solution is best for your business needs. If you have any questions or want to discuss the comparison sheet further, please don’t hesitate to contact us.