Benefits of Microsoft Dynamic 365 for Finance and Operations
Many businesses question the use of ERP if they are already using CRM. However, one needs to understand that these solutions are different. CRM helps the business to generate valuable leads and manage customer relations and thereby helps in fostering long-term relations with them. On the other hand, ERP is not so simple software. This solution is used for managing every aspect of the business. The focus of ERP is thus on both marketing and distribution. ERP enables the business to consolidated all information from different subsystem into a central database so that can be easily be accessed. Hence ERP is much a bigger picture than CRM and when the implementation of ERP takes place within the organization, CRM becomes one of the components of it. ERP is a unified solution that thus integrates all other software into one.
D365 finance and operations are one such module of ERP that helps the business in the automation and unification of financial processes. The use of this module will help the business in reducing various expenses and also allows for a quicker- decision-making process thanks to its AI-based technology. All these features are today very important to survive in the highly competitive market. This is a new concept that is gaining quite a popularity among various businesses. It is nothing but a unified ERP solution for the business. It is the latest cloud-based ERP solution with enhanced functionalities; AI-based predictive solutions etc. and all these are provided at a user-friendly interface. The use of this tool is found among the five important industry i.e. retail, manufacturing, public sector, service, and distribution where it helps in managing finances and various business operation processes effectively. However, many small and medium-sized businesses are confused about whether to choose D365 finance and operations for their working or not. This confusion can be cleared by understanding the various benefits associated with the implementation of D365 finance and operations into the working of the business. Some of these benefits are mentioned below:
- Valuable and deep information: To make the right decision at the right time all one needs valuable and deep information. But this is said easier than done as not every time one can have access to quality information. But this scenario can now be changed by the used Dynamic 365 finance and operation solution as this solution with its high-end features such as Artificial Intelligence, Power BI and predictive analytics provides the bust with valuable insights that help them to arrive at the best possible decision. The use of D365 finance and operations will enable the business to plan and make strategy with much more accuracy and thereby will give them an edge over in the highly competitive market.
- Centralized system: Managing a business is not an easy task especially when you have multiple applications for different processes. It only adds to the work of the business which can further lead to chaos and confusion. Managing multiple applications across various platforms is not only time-consuming and cumbersome but also a stressful situation for any business. The valuable time spent by the business on the different applications could be put into more productive activities that will add value to overall business operations. To do so there is an immediate need for the business to switch to D365 finance and operations as this helps in bringing all the systems and applications into one centralized hub. The day-to-day working of the business can be made easier by connecting various applications.
- Simple reporting: When one’s business is overwhelmed with various applications then the reporting can become a time-consuming and tiring activity for the business. This is mainly because one needs to cross-refer the data from different sources to avoid any kind of mistake or error as such an error can cost a lot of the business. This takes up the valuable time of the business but this situation can now be well-handled by the use of D365 finance and operations as this solution provides all the information at one central point. This makes the process of reporting very easy and one can get the required result in just a few clicks.
- Effective solution: D365 finance and operations is an effective solution that is in a better position in understanding and fulfilling your business needs. This is a modern effective solution that will help your business to achieve the desired result and its growth objectives. It is the future for your all business demands and thus one must upgrade to this solution at the earliest to have a competitive edge.
- Saves Money: Many businesses believe that implementation of D365 finance and operations software is going to cost a fortune to them and thereby it is not suited for small and medium-sized businesses. But it is not the case as this solution is available on a monthly subscription basis where one is required to pay on one to one monthly basis to avail of the benefits of this solution. Thus there is no requirement for the business make pay high frontal capital investment. Thus it is indeed a cost-effective solution for the business.
- Scalability: Like the model of D365 finance and operations is subscription-based it thereby is easier for the business to either scale up or down their process as per their requirements. This feature is highly useful especially for businesses with seasonality as well businesses growing at a faster pace. When one business starts using this solution they will experience improved productivity and efficiency which can increase the need for scaling up. All these demands can be easily accommodated by D365 finance and operations.
- Versatility: The use of D365 finance and operations offers versatility to the business as they can choose whether to for a cloud-based solution or on-premise installation. Thus based on their requirements business can select the most appropriate option for them. Besides this, this solution also offers a hybrid edge solution that gives both the benefits of a cloud-based and on-premise installation.
Hence these are the major benefits that the business can enjoy with the implementation of D365 finance and operations. For effective results, one must choose the right D365 finance and operations implementation partner.
Recommend reading: “ERP Statistics That Are Critical To Know For Your Business“