New age digital transformation and cut-throat competition have made business organisations more agile and thoughtful as regards their internal process and systems. The SMEs and large multinationals are now employing different ways to streamline their operations to achieve short-term and long-term targets and objectives in the speculated time frame.
There is a constant need to optimize operations and empower employees at all levels of the organization to channelize goals and meet the targets. No wonder Microsoft Dynamics 365 is a boon for those looking out for an efficient system to align with the pace of their business growth. This software comes in a bundle of robust apps geared toward enhancing six core areas of business, namely – Sales, Customer Service, Financial Operations, Marketing, Field Service, and Project Automation.
In this article we will be talking about the workings of Dynamics 365 for Finance and Operations and its salient features.
Dynamics 365 for Finance and Operations: What does it do?
Dynamics 365 for finance and operations is a cloud-based ERP solution that covers all the vital areas of business such as manufacturing, retail, supply chain, finance relates queries and many more. Its predictive analysis and intelligence help businesses to scale at an enormous speed. Dynamic 365 integrates the existing systems as per the changing dynamics of the business while also adapting to constant changes in the market. Dynamics 365 not only simplifies the employee’s time but also maximizes the efficiency of existing business models.
Some of the advantages of integrating Dynamics 365 for finance operations are given below:
- Increases productivity: Introducing Dynamics 365 to finance operations will help one to connect different sections of business under one roof. It facilitates productivity by offering myriad connections across all departments of the organization. Dynamics 365 when integrated with finance operations links project, client, and process etcetera; consequently, this eliminates reluctant efforts on the part of the employees as well as the possibility of making errors. This software creates a very cohesive working system that has a strong impact on the productivity of the business.
- Optimizing resource utilization: The data obtained with the aid of Dynamics 365 plays a very important role in identifying the loopholes in the system. This identification helps one to combat the issues prevailing in the system leading to better utilization of resources. The accurate project estimates and real-time figures facilitate a tight control over the management. Assimilating Dynamics 365 in finance operation can lead to optimum utilization of resources and increased profitability too.
- Facilitates Decision Making: Since the reporting and reviewing system of Dynamics 365 is backed by the authentic data, the decision making in organizations increases tremendously. The critical financial data and project related information curated by Dynamics 365 is rational and gives a clear picture to the management. One can plan and execute operations seamlessly by incorporating Dynamics 365 in Finance and Operations.
- Quick response: The predictive analysis of Dynamics 365 configures workflows as well as assigns a cost for all the projects involved. This quick response leads to the developing of strict time frames for the projects. You can also track the KPIs of the project with the help of Dynamics 365.
- Better collaboration: You can enhance your intellectual capital by integrating Dynamics 365 in your business model. The relevant facts and figures give you a clear understanding of your project and its development. This gives an ample number of opportunities to flourish and collaborate with complementing businesses.
- Advance reporting system: Dynamics 365 can improve the overall performance of your finance and operations too. Machine learning and advanced analysis give valuable intellectual insights into the business. Dynamics 365 aims at unifying the reporting systems across all the departments of the organization. Additionally, it is equipped with an array of tools for reporting and reviewing.
- Proficient Finance Performance:The base of every organization is finance. Research conducted recently concluded that business with better and well-run finance systems showed a growth of more than 30% annually. Dynamics 365 has an aptitude to overview financial management and workflow capabilities.
- Flawless integration with Microsoft office:One of the greatest advantages of Dynamics 365 is its ability to integrate with Microsoft and other technologies. It can assimilate with Office 364, BI, power apps and much more. It combines all the data on a cloud network. Only the prominent members of the finance department can view this data. Dynamics 365 limits data visibility.
- Ability to overview Finance operations and Budgeting: Budgeting is an important aspect of the project. A lot of research and agility is required to make a budget. A budget should be determined based on the authentic figures and research. Dynamics 365 helps maintain this precision by providing accurate data, which facilitates long-term decisions. The budget plan document created with Dynamics 365 can also be integrated with Microsoft excel, if required.
- Global Finance Risk and complexities: Dynamics 365 supports quick changes in finance and operations globally. The flexible, rules-based chart adapts to the latest changes and amendments in finance systems. With Dynamics 365 you can accurately manage your financial systems and operations. The tax reporting, invoicing, reporting etcetera is made much easier by incorporating Dynamics 365 in Finance.
The holistic approach of Dynamics 365 backed with Azure suites has empowered finance and operations. The power BI and AI capabilities facilitate intellectual analytics of business. whereas real-time insights and data help foster businesses to transform, innovate, redesign themselves, while aiming at continued and enhanced growth.Integrating Dynamics 365 in finance and operations has proven to increase the overall performance of the business, elevating their growth.
It is safe to say that Dynamics 365 Finance and Operations is the all-rounder power tool you must have by your side if you wish to make that desired leap in business.