The way businesses manage financial, and Operations departments have changed exponentially in the past two decades. Technology and software solutions like Saas have entirely redefined the processes and increased efficiencies beyond measure and one such solution are Microsoft Dynamics 365 for finance and operations.
One of the front runners in this race has been Microsoft with its plethora of solutions for various purposes. These solutions have been improving over the past few years, and Microsoft’s current ERP suite has taken things to the next level. You can practically manage all your business from one single dashboard, and we will give you an insight into all things you can accomplish!
Let’s discover how you can transform your business with the ERP suite.
The ERP suite for finance and operations is the combination of Dynamics 365 Finance and Dynamics 365 Supply Chain Management. Additionally, Dynamics 365 Commerce and Dynamics 365 Human Resources further help in commerce and managing HR. It can also be integrated with Office 365 and SharePoint
We will be discussing all of these software and what you can accomplish by using these.
Microsoft Dynamics 365 Finance
Microsoft Dynamics 365 Finance is the result of numerous iterations in Saas solutions by Microsoft over the past decades. Business requirements have changed, and technology is the only way to manage modern finances, including critical financial decisions.
Enhancing the decision-making process with Artificial intelligence
The most critical part of managing your finance department is making hundreds of decisions on a daily basis. When you have funds flowing through thousands of channels, manually optimizing each channel to increase ROI becomes cumbersome.
The AI algorithm of the Microsoft Dynamics 365 Finance understands problems faced by companies and have incorporated these with solutions like these –
1. Predicting customer payments
Improve your margins and estimate cash flow as the software will predict when and if your customers will pay.
It consists of algorithms that predict payment behavior based on numerous factors, including past payment history.
2. Predict your cash flow
The software solution remains on top of your cash flows by identifying trends and movements across all channels. The algorithm will make sure to notice all the things which are not done by the human eye.
You can easily predict problems way before they occur and make informed decisions based on insights and data every single day. It makes sure to alert you to all issues that can happen in the near future.
3. Creating budget forecasts in a snap
It helps automate making budget forecasts by analyzing past data of years while considering each and every small factor.
You will get insights into the areas to work on and why you should shift budgets from one area to another. You can customize the goals to match with the vision and mission of your company.
Automate the processes in your department
The best part with Microsoft Dynamics 365 Finance software is the integration with all other Microsoft solutions. If your company is habitual of using certain applications and feel comfortable working on a specific platform, you can easily do it.
- You can easily automate and prioritize the tasks for your teams using the algorithms which provide insights. Each step of the process can be automated while you focus on more critical tasks
- Choose among hundreds of templates for documents like invoices, salary slips, and others with an option to customize them fully
- Create automated recurring payments for your customers, which will significantly increase sales and reduce audit costs
- Use advanced calculation tools and get things completed at the click of a button
- Create reports for every section of your company which includes insightful recommendations of things that should be improved
Reducing costs and increasing efficiency
Apart from the ones described above, there are innumerable capabilities and features that can empower your business, including –
- Use budget control to limit expenses for every department/user
- Create rules and algorithms for financial planning
- Use analysis and data to predict trends and opportunities
- Financial process automation
Remaining compliant in changing times
International financial requirements keep changing with time, and conventional software solutions made it cumbersome to adjust operations to suit business needs.
With Microsoft Dynamics 365 Finance, you can change the e-invoicing, tax, payment formats, reporting, and other things you use without making any code changes. All the fields are 100% customizable, and changing the tax or the format is a snap.
- The software is made to be compliant with the policies of 37 countries and 42 languages.
Extra features and algorithms help you to improve governance across all channels and teams. You can monitor the risks you are dealing with and decrease them significantly. Creating rules to work according to a specific business process is very easy with Microsoft Dynamics 365 Finance.
Looking for something more specific for your business?
Every entity is unique and has diverse requirements, and you can also have some requirements which might not resonate with the standard ones. For this very purpose, Microsoft also promotes its pre-built solutions offered by partners and other services.
If you are also looking for a strategic partner or specific changes to the software which will suit your business needs, Contact Us to know how we can help you achieve your business goals.
We have been helping large corporations customize solutions to their needs and help you achieve the same while ensuring the changes are aligned towards efficiency and a higher ROI!
Dynamics 365 Supply Chain Management
Dynamics 365 Supply Chain Management allows you to take a holistic management approach and manage every minute detail of your chain in one single platform.
Enhancing quality control and time to market
- Improving the time to market by managing all the information of your products across all sites
- It helps reduce the product innovation cost as you can use the data and insights that you generate for another product
- The software is made considering the compliance guidelines of various countries to make sure you don’t face any issue
- Continuously monitor the production processes and identify problems way before they arise and automating the checks
Planning your stocks and making decisions powered by AI
While you have all your inventory data on the dashboard, the software helps you by giving insights and identifying upcoming trends.
You can create constraints to measure changing demands.
Optimizing the supply and distribution
The software remains on top of every step in your supply chain and makes sure everything is at the right place at the right time.
The functionality is equivalent to having a person overlook the delivery of each parcel to a customer.
Power of AI
The insights help prevent overstocking and make sure you are giving the right inventory orders, so the delivery process remains smooth.
Leveraging your resources
You can plan your resources and the production timings and labor. This will help you engage your resources at the right time and get the most amount of ROI.
Reshaping your logistics department
- The software will help you maintain cost accounting ledgers, which will help you streamline the cost-management policies in real-time
- You can check at any moment which department is overusing specific resources for the same amount of work
- Collaborate with your vendors and manage contracts along with negotiations in one platform
- Get insights about pricing negotiations which are based on past performance, spend and quality that you have been receiving
Taking the automation further
- Use heatmaps and workflows to automate every step in your business processes while you oversee them from the dashboard
- Route management and freight planning helps you to make sure that deliveries happen on or before time
Revamping the manufacturing models
The algorithm and steps in the software help you adopt the agile way of working, increasing efficiency beyond measures.
The software is a combination of technologies, including AI, IoT, and mixed reality, which helps in the innovation aspect and reduces your time of bringing the product to market.
- The best part is that it also works in remote locations where cloud connections can break. The software will make sure to run on pre-defined rules so that your tasks remain on time.
As Microsoft Dynamics 365 for finance and operations, if you feel you need additional capabilities and help integrate the software to your business software, Contact Us, we will help you start from integration to training!
Dynamics 365 Human Resources
Dynamics 365 Human Resources is the all-in-one solution to manage everything in your HR department from one place. It is built with numerous AI algorithms that help you automate every process and continuously feed you with insights while focusing on your business’s growth.
Aimed towards improving the experience of employees
Microsoft has taken care of the numerous problems that companies face and have integrated solutions corresponding to them.
Every employee of your organization gets a personal dashboard that lists all the employee’s skills, certifications, interests, and accomplishments. You can automate all the management tasks and authorize the managers to allot and report the progress of tasks on the platform.
Employees would be able to access training, updates, instructions, and other information that you add. You can add training modules and automate them, so the employees keep upgrading the skills to be Industry ready with all the new improvements.
Automating and managing the necessary HR processes
- Automate the leave and absence reporting along with defining customized rules for your employees. This automation is in line with the regulations of the country that you operate in
- Create compensation plans and other schemes to motivate your employees or change the payment structure to your needs
- You can easily integrate Dynamics 365 Finance and automate payrolls, tax filings, and budgets
Bringing the agility culture to your company
- Quickly create tasks, workflows, steps, job descriptions, so specific steps are followed while executing particular tasks
- You can easily automate all these processes so you can focus on growth while all functions in your company are implemented with the agile methodology
- Every part of the software is customizable, and you can configure it to your business needs
AI and insights
The best part of the software is that it continuously feeds you with business insights, which will help you improve the HR department’s systems.
You can track employee sentiments with the help of surveys and track the teams that perform better than the others. You can then identify the factors which are responsible for increased performance and work on those.
Dynamics 365 Commerce
If you have an E-commerce business or a large part of your revenue comes from online sales, Dynamics 365 Commerce will help you streamline business processes.
Redefining the customer experience
- The software helps you connect the online, offline, and back-office operations in one platform where you can oversee everything
- Improve the experience of customers by giving them more choices to complete purchases, which will significantly improve the UX
- Manage all your marketing and promotion channels to get real-time data
- Integrate Dynamics 365 customer insights to get insights about the complete customer lifecycle and identify the areas which need improvement
Power of AI
The software algorithm is based on AI, and it helps provide meaningful recommendations to your customers at the right time. It will also give you suggestions for fulfilling the right inventory and place orders based on past sales data.
The software continuously processes data and looks for opportunities on both sides, which include –
- Looks for opportunities to negotiate and get the best prices from vendors by identifying the best times to buy
- Looks for upselling and marketing opportunities which increase the sales and overall conversions
Conclusion
There are unlimited opportunities with Microsoft Dynamics 365 for finance and operations ERP suite, and with the right approach and settings, you can increase efficiencies with every passing day.
The software in the ERP suite is currently powering many large corporations and bringing significant results.
Make sure to leverage all the features based on business goals and become a benchmark in your Industry!
Contact Us if you are looking for a certified Microsoft partner who can help integrate the ERP suite and set you up for success!!!
