Midas Tunes Up Financial Management System with IDT Consulting and Microsoft Dynamics GP Software

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IDT Consulting, a leading provider of business technologies, completed phase one of a new financial management system for Midas Inc., one of the world's largest providers of automotive services. Working with IDT Consulting on system selection, system implementation and integration, Midas chose Microsoft Dynamics™ GP business management software. The new system has been customized to Midas' accounts receivable and billing processes. It has the ability to create a long-term interface with the company's legacy system.

IDT Consulting, a leading provider of business technologies that help companies harness the power of information, announces the completion of phase one of a new financial management system for Midas Inc. (NYSE:MDS), one of the world's largest providers of automotive services.

Midas, also headquartered here, sought to replace its AS 400-based enterprise resource planning system due to a shift in its business model to support franchisees. The current system's high cost and limited capabilities no longer fit the company's requirements. Led by Bennett Cikoch, vice president of IT, Midas laid out a number of criteria for its new financial management system: among them, ease of customization to Midas' accounts receivable and billing processes, and the ability to create a long-term interface with the company's legacy system. Midas also faced the challenge of introducing the new system in phases.

Working with IDT Consulting to make its final system selection, and for the system implementation and integration, Midas chose Microsoft Dynamics™ GP business management software. Microsoft Dynamics GP is a comprehensive and highly scalable business management solution that offers a cost-effective way to manage and integrate finances, e-commerce, supply chain, manufacturing, project accounting, field service, customer relationships and human resources.

In addition to general ledger, accounts payable, order processing and inventory management, Midas will rely on Microsoft Dynamics GP for secure online distribution of financial reports to field staff at its more than 1,700 franchise and company-owned locations in North America.

Midas' 40-member finance team is already seeing positive productivity results from the new system: greater speed, functionality, and tools that make financial reporting easier. "We expect the new Microsoft system to bring us efficiencies throughout the finance department, and in improving information flow with the field," says James Haeger, vice president and controller for Midas.

Cikoch credits IDT Consulting for putting the pieces together -- an understanding of its business issues, a good product, strong accounting and product knowledge -- to make the transition to the new financial management system seamless.

Easing Information Flow Across Midas

Research into technology that could enhance Midas' business processes included a review of enterprise content management systems.

Integrated Document Technologies, Inc., the parent organization of IDT Consulting which specializes in integrated ECM, ERP and CRM solutions, was working with Midas at that stage. "Further discussions led us to more deeply analyze their near-term needs, and an ERP/finance system came to the fore," says Paul Winiecki, IDT's National Sales Manager - Business Development.

IDT's careful review of internal business processes before recommending a technology package often results in phased introductions of systems, ensuring that a company's most critical problems are addressed first. In Midas' case, having content and documents feed automatically to the financial system is ideal, and is the integration step that many companies lack. Midas determined that the financial management system was the priority; IDT's enterprise content management system is a planned addition in the near term.

The Microsoft Dynamics GP system met all of Midas' demands: it provides scalability, permitting the finance team to configure and set up the system to their own specifications. The new system is also flexible and easily customized, giving Midas many choices about how to engineer its processes.

"We did not need to do as much re-engineering of our current processes as we feared," says Cikoch. "The options in the software minimize this."

The new financial management system also fits the bill on its ability to be integrated with Midas' legacy ERP system. "Again, the software gives us many integration tools, and we have relied on them to export data from the AS 400-based system. This allowed our development team to be up and productive faster than we thought. And, we have been more self-reliant on integration than expected."

The intuitive Microsoft Office interface and other familiar Microsoft software components were also appealing for Midas, because it makes the IT department's work with the system -- and accessing information throughout Midas -- fast and easy.

Another factor making the Microsoft system attractive was the ability to purchase the software in modules. "This made the cost of ownership of a Microsoft platform significantly less than other systems," says Cikoch.

Cikoch is as pleased with his choice of IDT Consulting. "It was important to us to work with a firm that brought more than just product knowledge, because we deal with multiple currencies, and our finances have a high level of complexity," he says. "IDT is especially capable on the accounting side -- there isn't a question or scenario they can't answer."

Daily and Annual ROI

Midas is reaping the benefits of the new system in both day-to-day operations and for financial reporting purposes.

"The drill-down capabilities of the GP FRx Report Server are outstanding," says Cikoch. "The General Ledger is serving us well in handling multiple currencies. And the finance team is excited about having so many new tools at their disposal."

Specific benefits include more efficiency in report and billing distribution, among both management and to the field. Longer-term, Midas expects to see a positive impact on collections and on the General Ledger close process, and overall productivity boosts from increased automation.

For more information about IDT Consulting, visit http://www.idtconsulting.com or call (630) 875-1100.

IDT Consulting, a Gold-Certified Microsoft Partner, was founded with the sole focus of helping companies harness the power of information through Business Management solutions. For companies who recognize the value of integrating and streamlining their back- and front-office systems, IDT Consulting's parent organization, Integrated Document Technologies, offers solutions to reduce paper, automate business processes and enable regulatory compliance. Working together, they have become leading providers of a variety of business technologies.

Whether planning a new ERP/Financial or CRM Solution, adding content management capabilities, or exploring the combined power of multiple technologies, IDT Consulting's resources and expertise can help companies make sense of everyday business transactions. IDT Consulting is a single-source knowledge base for system design, integration, customization, implementation and long-term support.

For more information about IDT Consulting, visit http://www.idtconsulting.com or call (630) 875-1100.

About Microsoft:
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

Editor's Note:
For more information, please contact:
Susan Duensing, CBC, telephone: (847) 639-8300 or e mail: susan@rurelevant.com.

Microsoft, Microsoft Dynamics, Windows Server, BizTalk and SharePoint are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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