Accounting software isn’t usually built to tackle project management work, and most industry-specific solutions don’t have the right accounting tools or functionality you need…
Luckily for you, Microsoft Dynamics SL closes this gap by connecting project management and accounting software capabilities for complete end-to-end functionality and seamless business processes.
Read on to learn more about the Microsoft Dynamics Solomon (SL) solution and how our Microsoft Dynamics consultants can help your organization maximize overall investments.
What Does Microsoft Dynamics SL Mean?
‘What does Microsoft Dynamics SL stand for?’
Microsoft Dynamics SL was first known as Solomon software, and many businesses with prior Solomon exposure recognize the platform as both Solomon and Dynamics SL.
Dynamics SL sets itself apart from many ERP solutions by combining advanced project and financial management capabilities and giving businesses greater control over their profitability information, operational efficiency, and overall quality of work.
What is Microsoft Dynamics SL?
Like Microsoft Dynamics GP, Microsoft Dynamics SL is an enterprise resource planning (ERP) tool that provides advanced business management tools to assist companies in managing client needs, adhering to compliance standards, and providing services on time and within budget.
Microsoft Dynamics Solomon (SL) can assist with the following:
- Project management
- Project accounting
- Supply chain management
- Field services
Understanding Microsoft Dynamics SL Functionality
The Dynamics SL module is a solution built for professional service providers, specialty contractors, and other project and service-based companies. It’s especially suitable for project-based companies that need additional support managing analysis and reporting functions and mid-sized companies with complex payroll needs or an offsite workforce.
With integrated and automated Microsoft SL solutions, project-based companies, like professional services agencies, government contractors, finance, and operations, can rest easy knowing their projects will be completed on time and will meet all company and industry requirements.
The Dynamics SL platform offers many advanced and integrated functions that allow organizations to increase their productivity, accuracy, and customer satisfaction. By leveraging Dynamics SL, users can manage customer-driven projects more effectively, follow compliance guidelines, and provide high-caliber services for clients across the organization.
Like many of the modern ERP solutions available in the market, Dynamics SL uses its automated capabilities to assist businesses in streamlining operations across many departments, regardless of location. The SL platform helps managers and corporate leaders manage staff effectively, boost productivity, and increase team profitability.
Features and Functionality of Microsoft Dynamics SL
Aside from performing the typical tasks associated with an ERP system, Microsoft Dynamics SL provides the functionality needed to support project management by delivering sophisticated capabilities and integrations with other modules, including:
The capabilities delivered in the Dynamics SL solution are customizable to meet the unique needs of project-based businesses, such as:
- Construction Agencies: Improve your sales, project management, job costing, materials management, and more—all integrated with your existing financial management system.
- Engineering Companies: Make better, data-driven decisions, manage your people and financials more efficiently, and maintain profitability for client services and projects.
- Government Contractors: Complete projects on time, on budget, and to specification—while collecting and retaining detailed information needed to address and comply with company and industry regulations.
- Other project-based businesses
The platform’s flexibility and versatility lie within its offering of all key project management elements and several other business-critical functionalities, like accounting, finance, access to a unified data repository, and more. Users have full control over their platform’s ability to instantly set up, store, sort, and access all project data.
Benefits of Dynamics SL
Here are a few of the main advantages of the Dynamics SL solution for business users:
Microsoft Dynamics SL works with the Microsoft Office apps you already own and use, so no time is wasted trying to get new solutions up and running. Implementation and integration of the SL module also require less user training and present fewer disruptions to your existing business processes.
Go Wherever the Project Is
Access job-specific information and carry out data-entry tasks like expense entry and project time, project management, setup and approvals, and analysis — all from the convenience of your laptop, desktop, or mobile devices.
Change With Your Business
Dynamics SL makes it easier for companies to get started with the Dynamics SL solution according to their current needs and adapt and grow as their needs do over time.
Differences Between Microsoft Dynamics SL and Dynamics 365
Microsoft Dynamics SL and Microsoft Dynamics 365 are both customizable, allowing users to create new features, adapt existing ones, and integrate Microsoft add-ons, apps, and ISV solutions.
Despite their similarities, they both perform customizations in different ways…
Unlike other Dynamics on-premises products like NAV, GP, and AX, Dynamics SL data is kept on an SQL Server database.
With the help of the Integrated Customization Manager, SL users can customize existing programs. They can use several pre-built “screens”, including maintenance, entry, procedure, and inquiry, to develop adaptations for their existing solutions. Screens make programming easier, but business users must define the tables in SQL Server before using them to their full potential.
With its no-code extensions, Dynamics 365 adjusts the customization process, simplifying the adaptation process for core applications and functionality over time.
Changes To Come
On January 9, 2024, Microsoft will no longer provide mainstream support for the Microsoft Dynamics SL 2018 version. This means Microsoft will not provide any further updates, releases, builds, service packs, fixes, or patches to resolve issues with existing SL functionality.
Extended support for Microsoft Dynamics SL 2018 will still be available until July 11, 2028, and manufacturers will need to decide whether or not extended support will include any advanced security features. Customers enrolled in an existing support plan are the only users with access to these extended updates.
Getting Started With Us
Whether you need a powerful ERP solution to assist with project and financial management across your organization or just an extra hand getting started on your journey with Microsoft Dynamics applications, Surety Systems can help.
Our senior-level Microsoft Dynamics consultants have the functional skills and experience needed to help you navigate your existing Microsoft Dynamics applications or successfully implement new Dynamics 365 solutions, helping you achieve your business goals on your own terms.
Ready to learn more about Microsoft Dynamics SL and where our Dynamics consultants can fit in your organization?
Contact us today!