Microsoft Dynamics 365 For Finance and Operations
ERP systems have progressed over the years, and as businesses and organizations have become sharper in their ERP usage, businesses and organizations are beginning to demand additional features for improving the efficiency and productivity of their teams.
The team that takes on great responsibility in maintaining an ERP system is the finance and accounting team, as they perform the complex and critical task of maintaining the system’s integrity. An organization’s financial statements and reports call for team members to be accurate and precise — an organization’s health will depend on the team’s insight and assessment.
In July 2019, Microsoft made an announcement that Microsoft Dynamics 365 for Finance and Operations would be broken into two separate applications. One would be Dynamics 365 Finance and the other would be Dynamics 365 Supply Chain Management. This would seemingly have an impact on all businesses and organizations that used Dynamics 365 for Finance and Operations. Businesses and organizations that had a license agreement could continue using the previous pricing model until the license agreement needed to be renewed.
By separating these applications, Microsoft is able to offer customers greater flexibility when it comes to the adoption of various capabilities. It also ensures a more cost-effective and cost-efficient solution that allows customers to only pay for the applications they use. Any modules that already existed within these applications would be aligned within the new setup. While functionality has remained the same, the different applications have separate licensing and pricing.
Microsoft Dynamics 365 | Finance and Operations
Microsoft Dynamics 365 for Finance and Operations delivers high-quality ERP capabilities within a comprehensive, cloud-based business application. Within Microsoft Dynamics 365 for Finance and Operations, operational and financial processes will be smoothly connected into one application.
Businesses and organizations can gain a better understanding of what they need to optimize productivity and efficiency while delivering top-notch customer experiences and accelerating growth. Dynamics 365 for Finance and Operations will enable your business or operations to quickly adapt to current and future market demands.
Does My Organization Need an ERP Platform?
ERP and CRM are two terms that are often confusing to many organizations. ERP systems and CRM systems are similar in that they are both vital to an organization, but they do not perform the same functions.
While an organization may rely on CRM systems and ERP systems, there are fundamental differences between the two. One of the key tasks of CRM applications is to manage relationships that businesses have with customers. Many businesses quickly discover that it will help to attract leads, establish positive relationships with customers, and ultimately increase overall sales.
On the other hand, ERP is a little different as it is a little more complex than a CRM solution. An ERP application will manage your business’s processes and applications, including relationships with customers, logistics, analysis, and more. As a result, ERP applications are aimed at not only distribution but marketing as well. ERP merges key information from various departments and sub-systems.
While CRM applications do not have to be used with another application, they can act as additional components of an ERP system. Businesses and organizations may also find an increase in opportunities when there is a consolidation of data in an ERP system. How great will it be to have a comprehensive solution instead of several solutions?
Why Use Microsoft Dynamics 365 for Finance and Operations?
There Is An Improved User Interface
The enhanced Microsoft Dynamics 365 user interface is not only clear but very user-friendly. The new interface is equipped with a personalized activity-based workspace that allows users to manage assets and processes as they are being inputted. With the new and improved user interface, Microsoft Dynamics 365 for Finance and Operations makes users feel more at ease with the service, thereby reducing the amount of stress and frustrations that users often feel with transitioning to a new platform. The platform is not only available in several languages, but it has functionalities that are specific to over 50 countries.
Businesses and Organizations Can Minimize Costs
You may think it will be both cost-consuming and time-consuming to migrate to Microsoft Dynamics 365 for Finance and Operations. However, you can actually save money by using Microsoft Dynamics 365. The functionalities within Microsoft Dynamics 365 for Finance and Operations will enable your business or organization to identify any unnecessary resources and eliminate them. As a result, you can minimize costs.
Businesses and Organizations Can Leverage Cloud Operations
Microsoft Dynamics 365 Finance and Operations is hosted on Microsoft servers. This means your businesses or organization will no longer have to worry about maintaining servers and hardware. With Microsoft Dynamics 365 being hosted on Microsoft servers, your business or organization will have greater scalability and flexibility.
The Platform Is Equipped With Improved Analytics
Microsoft Dynamics 365 for Finance and Operation has its own built-in analytics tool. As a result, every analysis and report will be in more detail, and they will be easier to produce. There is also an embedded analytical workspace that organizations can use to create Dynamics 365 through a form extension.
The Platform Has Built-In Intelligent Operations
Microsoft Dynamics 365 for Finance and Operations uses the latest machine learning capabilities available in Azure and Cortana. The algorithms of the Cortana and Azure platforms will allow your organization to completely transform basic statistics into powerful statistics that can be used to anticipate favorable opportunities. Your organization will receive the answers you need ahead of time, allowing you to act on trends that your competitors may not be aware of.
Your Organization Will Be Secure With Data Privacy and Cybersecurity Solutions
Microsoft Dynamics 365 for Finance and Operations has its own built-in disaster recovery solution and offers technical support that is available on a 24-hour basis. Microsoft Azure provides high-quality cybersecurity services. Your data will also be protected. Your organization will not have to spend additional financial resources for the recovery solution and technical support.
With Microsoft Dynamics 365 Finance and Operations, your business can take on a universal approach to creating the best solution to successfully address your challenges and elevate your organization.
Intelice is a Microsoft Dynamics Partner in Washington DC and provides ERP solutions to organizations throughout the area. Is your organization interested? Do you have questions? Contact us today and allow us to assist your organization with its Microsoft Dynamics 365 upgrade.