Russ: This is PKF Texas’ Entrepreneur’s playbook. I’m Russ Capper, sitting in once again for Greg Price. Greg, the Director of Consulting Solutions at PKF Texas and normally the guy in this chair, Greg welcome back to the Playbook.
Greg: Russ, thank you for having me back.
Russ: You bet. Now we’ve talked several times about Microsoft Dynamics NAV but I know in prior Playbooks I heard you talk about NAV-X. What’s NAV-X?
Greg: Well, NAV-X is NAV but it’s an enhanced version to handle distribution companies and their needs.
Russ: And have you had some success with NAV-X?
Greg: Well we have, as a matter of fact. We’ve just completed our first customer that went live about 90 days ago. This particular customer had a need for what I would call long-term inventory lead times and had a need for accurate forecasting and also had, what I might call, as a combination of materials or blending and because they deal with the big boys, they had to have some EDI requirements as well.
Russ: And this went in successfully?
Greg: It did and the company was able to achieve four major things: one is that it got accurate job costing in terms of what was going on with its inventory. It was able to produce more accurate and timely financial statements. It also was able to, I guess; address long-term forecasting because of the long lead times with the inventory that were required. And probably one of those hidden costs was able to reduce head count requirements as this company’s gone from 5 million to 100 million in less than 3 years.
Russ: Wow. I’d give you straight As on that one man.
Greg: Well thank you very much. It was a great story and we’re very excited to have them on our team.
Russ: This has been another Thought Leader Production, brought to you by PKF Texas, the Entrepreneur’s Playbook. Tune in next week for another chapter.