What is the Point of AXIO Core Financials with Dynamics 365 for Operations?

At first glance, it just doesn’t make sense that SBS Group (or anyone for that matter) would create a third-party solution to enhance financial management for one of the world’s most noted financial management solutions.  I’ve had several potential clients ask about this and my answer is always the same:  It is about helping our customers realize business value faster.

When a business invests in technology, they expect tangible results.  Whether they’re aspiring to enhance operational performance, improve the customer experience or capitalize on new opportunities, the goal is to provide genuine business value in the least amount of time.  The days of waiting for smart technologists to reverse engineer generalized solutions to the needs of individual companies over the course of months and years has been put to pasture by the advent of cloud computing.

We’ve implemented ERP solutions for thousands of companies and have learned a thing or two about the kind of configurations, enhancements and customizations that different types of buyers will need.  We put that knowledge to use with every engagement, and in the case of AXIO Core Financials, we start well in advance of the engagement.

After all, Microsoft did their part. They created Dynamics 365 for Operations which is arguably the most robust ERP platform on the market today.   It is an extremely flexible, scalable Cloud ERP platform that takes advantage of the entire Microsoft Office and server stack.  It is up to our team to bend, balance and bedazzle the solution so that it operates as if it were created exclusively for each customer…and to do it quickly and efficiently.

“Bedazzling Dynamics 365 for Operations” with AXIO Core Financials

So how exactly do you bedazzle financials?  Well, you begin by understanding who you’re bedazzling it for.  AXIO Core Financials is designed to help larger, enterprise-level organizations who require universal integration of finance across any number of countries, companies and other entities. We often work with professional services firms who have operations and projects around the world and distribution companies with complex ownership and revenue management structures.  Complex operations require special attention to the setup of even the most fundamental system components.  AXIO Core Financials includes:

  • Multi-company, multi-currency management.
  • Accounts Receivable
  • Accounts Payable
  • General Ledger
  • Fixed Assets
  • Procurement and Sourcing
  • Product, Inventory and Warehouse Management
  • Banking and Advanced Credit Management.
  • Regulatory support
  • Human Resource Management
  • Advanced commissions management.
  • Excel Budget Importing
  • Master Data Management Import Templates
  • Pre-Defined Business Process Flows w/ Swim-Lane Diagrams
  • On-Screen and In-App Task Guides
  • Content-Sensitive Help and Training Material

AXIO Core Financials enhances global scalability, compliance with GAAP, IFRS, Sarbanes-Oxley, and DCAA requirements and spans all the important back-office processes in your firm to give you unparalleled insight and control of all critical financial functions.

Sample Screen-Shot of Bank Management Workspace

AXIO Core Financials Bank Workspace with Dynamics 365 for Operations

Sample Screen-Shot of Credit and Collections Workspace

AXIO Core Financials Credit and Collection Workspace with Dynamics 365 for Operations

Faster Time to Value

By leveraging best practices and lessons learned over more than 30 years to create AXIO Core Financials, our team has been able to decrease the related Dynamics 365 for Operations implementation by an average 30-45%. And, our clients get a much-improved experience with fewer frustrations and confidence knowing that their solution has been vetted and approved by the Microsoft AppSource Team.

AXIO Core Financials on Microsoft AppSource

Learn more about AXIO Core Financials on our website or see it in Microsoft’s AppSource along with other SBS Group solutions like AXIO Professional Services for Project-Oriented firms.

Best regards,

Robbie Morrison
Chief Solution Strategist, SBS Group

About Robbie
Robbie Morrison has spent nearly 20 years helping customers build and deploy elegant technology and business solutions.  From start-ups to enterprise-class organizations worldwide, his knowledge of the Microsoft Dynamics ecosystem and products helps SBS Group customers maximize ROI on technology investments.  Robbie

Today, Robbie serves SBS Group customers in his role as Chief Solution Strategist where he provides thought leadership and manages the development of B2B solutions.  Robbie received his MBA from the University of Georgia, Terry College of Business.

Dynamics 365 For Operations Tip: Now you can use Position based hierarchies in all workflows

Using a Reporting manager hierarchy for routing workflow documents has always been possible in Microsoft Dynamics AX and Dynamics 365 For Operations. This worked great in cases where you were required to route all of an employee’s workflow documents, such as timesheets, expense reports, purchase requisitions and more, to the manager they report to.

Now in Dynamics 365 For Operations, you can use Custom configured position hierarchies to route workflow documents. So, let’s say  you have a scenario where you need to route timesheets of an employee to the reporting manager, but route the expense reports to a manager they report to in a specific project hierarchy, you can configure this in Dynamics 365 For Operations ! Let’s see how?

On the Position Hierarchy Types, you can select the workflows which can use the selected position Hierarchy for outing documents. For example, in the screenshot below notice that the Matrix based hierarchy can be used by the expense report – USMF and Timesheet workflow.


NOTE: Note that a workflow can use only one custom hierarchy.

Additionally, you will notice that, on the workflow setup form, you can now view and manage the associated configurable hierarchies.


On the workflow setup/configuration, you can select the steps to be assigned to a Configurable hierarchy. See screenshot below.


So, when an employee submits their expense report/timesheet, this workflow setup is going to look for the Matrix Position Hierarchy and assign the workflow document to the worker to whom the employee reports in the Matrix hierarchy instead of the managerial hierarchy.



Small, but useful enhancement !! Hope this quick tip is useful.


Sandeep ChaudhurySandeep Chaudhury is a Dynamics 365 enthusiast with over 10 years of experience in functional consulting, Solutions architecture and systems integration, with expertise in the areas of Professional services automation(Project Management and accounting), Financials Management, Services Management, Sales and Marketing, Human resource management, Travel and Expenses Management and Procurement & Sourcing modules of Microsoft Dynamics 365 ERP. He has experience working with the Dynamics 365, AX 7, AX 2012 R3, AX 2012 R2, Dynamics 365 for Operations and more.

You Need to Prepare for the ASC 606 Accounting Changes Now

If you’re a business owner, an accountant or even just working in the accounting field, you’ve probably heard all the chatter about ASC 606 (also known as FASB Update #2014-09 or IFRS 15) – “Revenue From Contracts with Customers”. Beginning in 2018 – or earlier if you choose to be an early adopter – the way you recognize revenue is going to change, regardless of your business (with a few minor exceptions) or geography, since you either need to follow FASB or IFRS standards. Private company? Yup…it applies to you too, only one year later. For some companies, revenue recognition will be accelerated; if your contracts are not properly written, it could be seriously delayed! Both of these scenarios can have a major impact on your financial performance.

So, what do you need to do to get ready?  How do you know if your ERP will move you into the future? Are you confident of GAAP compliance?

One of the keys is to understand the five-step process involved in recognizing “revenue from contracts with customers”, and ensuring your ERP can do the proper calculations to ensure your compliance:

  1. Identify the “contracts” with your customers.
  2. Determine the contract “performance obligations”.
  3. Determine the transaction price (or “standalone selling price” – SSP) of each performance obligation.
  4. Allocate the contract revenue to each performance obligation based on relative SSPs.
  5. Recognize the revenue upon satisfaction of the performance obligation.

Some portions of the five steps are not “systems” or ERP steps – for example, your ERP cannot apply the tests necessary to determine if your customer relationships result in a contract under ASC 606, nor can your ERP determine if the performance obligation has been properly satisfied, nor can it determine the standalone selling price of each performance obligation. These steps require your judgment. However, being able to separate out the performance obligations and allocate the revenue appropriately across them based on their SSP, are definitely steps where you should be able to rely on your ERP.  If your ERP is unable to do these calculations and proper revenue recognition steps, prepare to enter an “Excel nightmare” – massive spreadsheets to reallocate the revenue, Excel-based waterfall recognition reports, and manual journal entries to ensure your GL is updated on a regular basis. Doesn’t sound like much fun, does it?!

asc 606 accounting changes

If you are using Dynamics GP, your standard out-of-the-box GP installation is going to need some help. While Dynamics GP can separate the performance obligations, which are basically line items on an SOP document, it cannot reallocate the revenue. So what is the solution?

Binary Stream Software’s products – Advanced Recurring Contract Billing, Advanced Revenue and Expense Deferrals and Multi-Element Revenue Allocation are designed with both today’s standards and ASC 606 in mind. Providing you with line level billing and pricing control, line level deferrals and proper revenue allocation, they allow your ERP to function as a fully integrated revenue recognition suite, giving you the peace of mind that you are in compliance with the latest revenue recognition standards.

To learn more about how Binary Stream can help support you in your compliance of ASC 606, register for our webcast on Wednesday, February 15 at 2 PM ET.

Prepare for ASC 606 with Binary Stream
Wednesday, February 15th

register for webcast

Podcast: Thoughts From the Field on Dynamics 365 for ProServ Firms in the Southeast with Suzanne Clarke (27 min)

If you’re interested in learning how a new technology like Dynamics 365 is impacting the market, there is no better route than speaking with people who work with it day in and day out.  To help our customers and partners in the professional services sector better understand the Dynamics 365 opportunity, we have interviewed a wide variety of professionals on the topic and created a series of 30-minute Dynamics 365 podcasts.


Today, we are proud to present our latest podcast in the series.  We interviewed Suzanne Clarke, a long-time ERP veteran and Enterprise Sales Executive for Microsoft in the Southeastern US.   Suzanne currently lives in Tampa, Florida and has helped customers to deploy ERP and CRM solutions for over 20 years.  Suzanne holds a BBA, Double Major in Accounting and Economics from James Madison University.

Picture of Suzanne Clarke

Suzanne Clarke, Microsoft

“My customers in the professional services sector invest heavily in finding and supporting the right people in their services organization.  They tell me that the today’s generation of people coming into their firms don’t just want technology, they expect it and rely on it to perform.  Dynamics 365 provides intelligent applications across CRM and ERP that work together seamlessly in the cloud and delivers real value to empower people throughout the organization. “

Topics Covered for Professional Services Firms

In this podcast, Suzanne spoke with about Dynamics 365 at length and helped to uncover how Dynamics 365 and AXIO Professional Services for Dynamics 365 for Operations, enable professional services firms to work more effectively.

  • Importance of advanced contracts management
  • Managing recurring revenue
  • Tracking projects and project accounting
  • How AppSource helps customers more easily extend their solution
  • Why cloud computing improves continuity, agility and disaster recovery
  • The importance of mobility and PowerApps for services firms
  • How improved interaction between Sales and Operations solutions are driving business value


Dynamics 365 and PowerApps

“I have a customer that works with a variety of contractors and needed to extend access to key information on a regular basis.  They leveraged PowerApps to create a custom mobile solution that provided the data their contractors needed along with a great user experience.  They did this in a matter of days, not months.

We thank Suzanne for her participation in this podcast series and her ongoing support of SBS Group, our customers and hundreds of businesses throughout the Southeast.  If you would like to get in touch with Suzanne directly, you can find her here on LinkedIn.

Best regards,

Robbie Morrison
VP Enterprise Solutions and Services, SBS Group

About Robbie
Robbie Morrison has spent nearly 20 years helping customers build and deploy elegant technology and business solutions.  From start-ups to enterprise-class organizations worldwide, his knowledge of the Microsoft Dynamics ecosystem helps SBS Group customers maximize benefits from the ERP investments.  Robbie

Today, Robbie serves SBS Group customers in his role as Vice President, Enterprise Group where he provides thought leadership and manages the enterprise delivery team.  Robbie received his MBA from the University of Georgia, Terry College of Business.

Want to learn more about AXIO for Professional Services and Dynamics 365? Watch our latest webcast recording!

New Video Release: Vendor Managed Inventory – Part 2 (2 min 9 sec)

This brief video demonstration is for current and prospective Microsoft Dynamics AX & Microsoft Dynamics 365 customers seeking an enterprise solution to assist vendor managed inventory.

In our last video on Vendor Managed Inventory, we showed you how to replenish your distribution center using the vendor managed inventory tool on AXIO for Distribution. This solution made it easy to check inventory levels, so you know when to increase order amount or decrease the frequency of orders. So now that your inventory is all replenished, how can you use vendor managed inventory to sell more product?

In this video, you will learn how AXIO for Distribution powered by Microsoft Dynamics AX is able to make your sales cycle process more efficient. Using this solution, your workers will be able to confirm that the inventory is being distributed properly, that orders are being fulfilled from the correct warehouse location and that orders are being delivered smoothly. If one of these variables is not working properly, you could have a problem on your hands. AXIO for Distribution protects against those kinds of errors with powerful data entry and reporting capabilities.


Want to see Part 1?

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