Microsoft Dynamics NAV Upgrade opens more growth opportunities for Daman Investments
Daman Investments had an outdated Microsoft Dynamics NAV ERP solution which had reached “End of Life”. Daman needed to upgrade the application to provide real-time, accurate data in one system – improving efficiencies, controlling cost and optimizing financial reporting. Daman was facing the risk of business operations downtime due to unsupported software, failing hardware infrastructure, as well as outdated system functionality to provide accurate and near-time reporting capabilities. The Finance Department was unable to provide senior management with required accurate reporting and relevant business related Key Performance Indicators (KPI’s) on an ongoing basis.
Oryx Technologies upgraded the existing Microsoft Dynamics Navision 4.0 ERP implementation to its latest version Microsoft Dynamics Navision 2016 providing Daman with a robust and dynamic system incorporating all of the latest state-of-the-art functionality. In addition, Oryx Technologies supported Daman Investments in migrating all Master Data, Account Ledgers and reporting templates. The newly introduced reporting functionality now allows Daman personnel to provide near-time business analysis, forecasting and financial reports on request in modern, information centric dashboards.
Daman Investments is a leading provider of non-banking financial services with a proven history of successful investments through consistent application of the core values of quality, accountability and transparency. Daman currently has more than AED 5bn in assets under management. Daman has distinguished themselves by offering innovative investment products and services to both regional and international clients through investment management, venture and development capital investment opportunities, as well as their regional brokerage operations.
“We had an outdated and complex environment. Oryx helped us to migrate safely with zero downtime and at the same time updated us on new functionalities and train our teams. The move to the new software has improved productivity and efficiency but more importantly we have complete new reporting and dashboard capabilities that allow us to make faster decisions.”
Moussa El Najmi | Head of Information Technology
Today Daman has significantly reduced hours of manual labor to compile transactional information, provides better and more accurate visibility into key business operations; allowing senior management quicker decision-making thus allowing management to act and react based on more profound and current information. Improved employee productivity and effectiveness supported Daman to achieve very fast user adoption as day to day tasks were optimized with more time dedicated to strategic analysis of financial business processes.