Category: Microsoft Dynamic 365

Home / Category: Microsoft Dynamic 365

Introducing an intelligent ERP software for financial management can maximize profitability and help drive your business into an intelligent enterprise. Here, in this article we have discussed the due advantages of implementing Microsoft Dynamics 365 Business Central for your financial management.

Enterprise resource planning is the cornerstone of all organizations, be it enterprise level or small business. ERP software makes it easier for companies ready to face challenges and looking for ways to incorporate digital solutions into their business practices. Specifically, in the accounting and finance department, it can facilitate various modules to share information and eventually boost productivity and speed.

ERP is the backbone of the most successful organization as it has proven ways to bring transparency and streamlines operational benefits. It integrates applications from various modules into one system like project management, human resources, inventory management, finance, and accounting. Due to its immense benefits, it has undoubtedly become a part of modern businesses. Let's dive into the benefits of using an ERP solution for accounting and financial management.

● An integrated solution like ERP brings all the critical facets of the finance department into one single view. The financial team can rest assured as ERP software takes responsibility for minimizing expense overhead and improving profit margin. It helps to streamline financial operations and elevates the firm's value. 

● ERP system consists of Customer Relationship Management (CRM), which helps monitor customer payment systems and manage and track credit across departments. You can quickly eliminate multiple window modules to make payments to vendors and employees whilst driving the cost expense of all business activities.

● As more companies are thriving, they are integrating all the business modules to have a deep insight into the functionalities. Finance forecasting can be done with the help of an ERP platform. Whether planning a long-term or short project, you can forecast your financial expenditure using the ERP tool. You can have a tab on your business financial goals, from calculating budget to allocating and assessing cash flow.

● As the finance department's responsibility is to ensure the smooth functioning of financial assets, the ERP system is designed to monitor your complex monetary policies. It helps prevent fraud by accurately managing internal liabilities and your business's guidelines. In the case of small businesses, a finance manager might not be available, so the ERP system helps verify financial solutions and the company's policies and laws.

● An ERP finance module eliminates huge volumes of spreadsheet and manual work by automating data across departments. It gives faster access to confidential data by safeguarding information from potential threats. You can generate financial reports from each department and have a cash flow projection of projects. 

● With an ERP solution in place, it helps to avoid data duplicity and redundancy. It enhances data consistency throughout your accounting module by improving financial and operational activities. 

Using a Modern ERP platform for accounting and financial management guarantees real-time decision-making and improves your business's overall efficiency and security. These features allow you to address your business's financial goals necessary. Furthermore, with an ERP, you can connect with your vendors or suppliers to keep an update on the price changes and have knowledge of profit margins. In this way, it will help you to minimize bottlenecks and make an informed purchasing decision.

Key Benefits of Using MS Dynamics 365 Business Central for financial management

We discussed above how a robust ERP solution for financial management can speed up time and be a game changer for your business process. And to meet your growing business needs, the best ERP solution to take charge of the financial aspect of your business is Microsoft Dynamics 365 Business Central. It is an integrated rich finance solution for small, midsize, and enterprise-level businesses. As a user-friendly platform with unique functionalities, you must consider MS Dynamics 365 for your financial sector.

● Process efficiency is increased using Business Central as it incorporates artificial intelligence (AI) and machine learning (ML) capabilities. Data loss is prevented by automating operational efficiency and enabling actionable insights into particular financial modules of different departments. Missing data can be easily traced, and the entire spectrum's security is under a single platform's watch.

● There are journal templates that can be used for monthly accruals. You can create transaction orders and the number of times transaction order has taken place. With accrual schemes, you can easily track payment records in detail, i.e., when the payment is completed or is pending. And you can do this activity by creating a debit and credit account.

● Business Central is so intuitively built that it can integrate with your other Microsoft Applications like MS Office Suite, Power BI, and many others. 

This implies that if you have data loaded on excel sheets and manage and exercise your finance capabilities from there, it's time for you to make the shift.

● An end-to-end viewpoint is available on Business Central. Whether you want to glance at your finance and sales from the home page or take a deep dive, it gives you real-time updates using business intelligence. With centralized data, the ERP solution breaks down data silos and helps you make intelligent decisions.

● Financial forecast on revenues and expenses can be smoothly carried out using Business Central. It helps businesses to reach their financial target by using intelligent documents with mentioned due dates. Its smart notification displays will assist you in setting up a comprehensive cash flow forecast.

● As Business Central's user interface platform is like its existing Microsoft products, employees would get started immediately. It boosts employee productivity by eliminating mundane tasks and gives ample time for them to learn more from the platform. It also allows employees to share and access data when requested from the customer, which serves the business better.

● The general ledger module of Business Central helps to stay vigilant on the assets and liabilities of your business. With an in-built general ledger module, you can track and manage your transaction and analyze each year's financial quarters.

Almost all businesses have accounting software, but a functionally rich ERP software that caters to all components of the different departments is immensely beneficial. Business Central delivers robust financial solutions that can facilitate your decision and streamline your business process. Additionally, it is cloud-based. Hence you can access it from anywhere, anytime.

Grow your Business with Great Innovus

Working with Microsoft Dynamics 365 Business Central will enable your business to meet industry-specific standards. We at Great Innovus ensure you put flexibility in your business and have the edge over your competitors. We will help you by providing tailor-made solutions and assisting you through your ongoing business requirement. 

If you want to know more about the power of MS Dynamics 365 Business Central, contact us here.

Small and medium businesses (SMBs) fulfilling orders from customers on time and maintaining the market share is a significant area for technological adoption. Competing against large enterprises with the help of digital solutions has nullified the chances of disruptions and maximized better profitability. However, to do more and strategize better data-driven decisions, integrating ERP solutions in supply chain management (SCM) can help you to bring down costs, improves efficiency, ensures on-time delivery, and adds value to your business process. And there are quite a few challenges faced by SMBs that impact the SCM process; let's discuss to know about them further.

Inventory visibility issues create a major hindrance for SMBs; either there is an excess of the stock, which leads to locking of capital, or a shortage of stock which creates havoc in the supply chain. And handling customer expectations and demands become more complex to thrive in the competitive market. Manual inventory processing on excel becomes tedious and time-consuming, affecting the business's reputation; hence an efficient ERP software can help to take a real-time decision and prove visibility on end-to-end product traceability.

Small businesses allocate a periphery for the IT budget, which puts a constraint on optimizing SCM issues. The struggle to transition from disparate software solutions and applications put SMBs in a tough spot. The traditional supply chain system fails to predict demand forecasting or proper warehouse space utilization. Also, updating regulatory compliances and fluctuating customer demand is strenuous for SMBs. Hence, organizations investing in ERP systems will significantly increase efficiency and will have a better return on investment in the long term.

The relationship with suppliers is vital and can create potential conflicts if it is not efficiently managed. It is challenging to track billings, payments, and shipments without a transparent tracking system. The ERP solution can hugely improve the SCM by monitoring each feature from a centralized point of view. The software solution improves traceability for both parties. Thus, the SMBs can negotiate better and improve the accuracy of the delivered orders.

Benefits of having an ERP solution to manage your SCM

We have discussed the challenges of a fragmented supply chain and how it can slow down the business speed and improve product quality in the long run. So, a perfect balance of supply and demand, access to inventories, and the shipment cost are critical to ensure holistic growth in business processes. And this can be achieved with a sound ERP system that helps with better output delivery.

The USP of an ERP system is the complete visibility of the workflow. Financial visibility helps SMBs to understand business forecasts and allows them to make informed decisions. A consolidated view of each relevant business process streamlines the data and helps with accurate traceability.

The ERP software can easily be used for multiple purposes in an SMB setup. As SMBs are budget conscious, the ERP software is the best fit solution. A customizable dashboard can be implemented for various business purposes as and when required. So, the collaboration of ERP and SCM will take care of vendors and suppliers and optimize business processes.

The ERP solution automates demand planning and procurement of resources. A well-balanced project portfolio ensures retention of customers, manages the inventory level, and analyzes target customer behaviour and industry trends. It also helps to standardize the SCM's operational process by boosting the employees' productivity and enhancing the efficiency of SMBs.

In a supply chain that relies on stand-alone systems, tracking real-time data for projected goals is challenging. However, by implementing an ERP system with SCM, you will be able to find the necessary details to generate an in-detail report. The detailed report will highlight the business plan gap and help conduct a deeper assessment.

Finding the right ERP solution and implementing it in your business is not simple. It's not only about the technology but also the impact the new solution will have on all the areas of your business. An ERP solution that considers business performance, growth, and goals should be the perfect ERP for SMBs. And one such industry-leading cloud-based ERP solution is from Microsoft. Dynamics 365 Business Central is quite a popular and trusted ERP solution with rich functionalities designed to help SMBs accelerate business growth. MS Dynamics 365 Business Central is easily adaptable to Microsoft Cloud Services like Power BI, Office 365, and PowerApps and is available on cloud or on-premise.

Benefits of having MS Dynamics 365 Business Central for SCM

For SMBs to find ways to reduce business complexities and streamline various sales channels and warehouse locations, it is essential to have better cohesion and integration with SCM. It is imperative to keep digital solutions at the forefront to optimize operational data and maximize profitability. MS Dynamics 365 offers a robust and flexible solution to manage customer relationship management (CRM), finance and supply chain. It is an integrated platform that supports SCM functionalities and has proven capabilities to overcome supply chain disruptions and meet ever-changing consumer demand.

Analytics solutions & Insights

Disparate data is consolidated on a single system; hence data analysis becomes easy to maintain, and real-time critical data is available at various locations. Business Central helps SMBs to keep track of market trends and ensures a seamless sharing of information across departments. You can also track every stage of activities that are carried out in the supply chain.

Automated Inventory management

Insight into inventory management will help SMBs do away with manual handling of information. Business Central provides complete visibility to inventory dashboards and real-time updates and helps keep track of stock levels. Overall, it reduces expenses and creates accurate predictions on replenishment plans and inventory availability.

Fluctuating demand in Supply Chain

For SMBs, leveraging supply chain activities using Business Central during uncertain times promotes clarity and helps mitigate risk factors. It anticipates market fluctuations in supply and demand needs by addressing potential bottlenecks as well. It helps to manage the fluctuating demand from different geographical locations based on real-time insights and advanced computing.

A broad view of Warehouse & Logistics

With the help of Business Central, SMBs can get a holistic view of the warehouse to keep the margin high with minimal losses. Activities like invoice and purchase orders, tracking inventory county, and cross-docking are well-managed through Business Central solutions. It provides a robust warehouse foundation, replacing manual labour with an automated process.

Get started with Great Innovus

Microsoft Dynamics 365 Business Central is a powerful and user-friendly ERP platform for SMBs to control workflow and flexibly configure SCM into it. We at Great Innovus are passionate about taking your business challenges and resolving them by building an end-to-end ERP solution. Our team of experts is proficient at helping you achieve your goals.

 

Connect with us to know how Dynamics 365 Business Central can help your small or mid-sized business.

If as a business, you are facing any of these following problems, it is an indicator that you have outgrown your existing set of tools and are in need of a more comprehensive technology solution.

        > There is no single source of truth and your systems are in silos

        > Difficulty in handling the increased transaction and inventory volumes

        > Extensive efforts to prepare reports and requires collation of data from multiple sources

        > Involves a lot of manual intervention to complete various processes

If these challenges are overwhelming you, you are also in the company of those 54% of organizations that have challenges with process and system integration issues. This is as per a survey done by Nucleus Research. But it’sis easy to overcome the challenges, with MS Dynamics 365 Business Central solution.

Intended for SMBs seeking an all-in-one ERP solution that is easy to use, flexible, and available on cloud or on-prem, Microsoft Dynamics 365 Business Central is a powerful solution. Businesses can benefit from Dynamics 365 Business Central to connect all the systems across the organization and drive efficiency. You can easily automate all your business processes and workflows.

Known as Microsoft NAV in the past, the solution has evolved into Business Central, and offers a comprehensive solution with which you can manage your entire business from sales, service, finance, to operations.

So how can Microsoft Dynamics 365 Business Central help your Business!

 

Improve Business Agility

With MS Dynamics 365, Business Central, it is very easy to integrate your systems and eliminate data and system silos. This helps in ensuring a seamless sharing of information across different departments. With the right data available on-demand in the right format, decision makers can make quick and effective data-driven decisions to address their business priorities.

Higher Security and Scalability

Business Central is inherently modular and empowers businesses to plug and play modules as needed for them. Based on the business dynamics, they can scale the solution without having to invest in additional systems. Business central also comes with advanced security and role-based ensure high availability and data backups.

Close Connect with your Customers

Businesses need a robust system to consolidate all their customer data and access it as and when needed. Having insight into the in-depth customer data allows you to personalize your approaches to customers. Such information allows you to make informed campaign, product, and inventory decisions. Business central solutions allow you to build a stronger customer relationship, boost engagement, and drive more revenue.

Efficient Workflows

Working with custom code and workarounds with legacy systems can be cumbersome. But with Business central’s centralized integration platforms, you can minimize errors, and processing delays through automated workflows. This means, your employees don’t have to waste their time on time-consuming tasks such as data entry and coordination.

Choosing the right partner

Understanding the benefits and possibilities of Microsoft Dynamics 365 Business Central in the context of your business is only the start of it. It is important to identify the right technology partner who can make the system work for you.

How Great Innovus helps you in this journey

At Great Innovus, we have been working with customers across industries to build Business central based solutions to address complex business challenges and deliver productivity. Our in-house experts are adept at providing solutions for building/migrating end-to-end ERP and CRM solutions. We also partner with SMBs on the journey towards digital transformation and transform their vision into reality.

Look no further to engage with your trusted partner for your business integration. We are just a click away!

Also learn more about Microsoft Dynamic 365 Business central

Microsoft Dynamics 365 Business Central (Everything you need to know anytime and anywhere!)

Dynamics 365 view of your business​​ 

Microsoft Dynamics 365 Business Central is a management software suitable for small and medium-sized companies, allowing customization according to the company's department and scale. It also allows you to add new features based on the development of your organization and its growing needs. Microsoft Dynamics 365 Business Central is a global solution that uses Microsoft Azure to integrate different areas of business into a single platform in the cloud to achieve full mobility.

In addition to optimal productivity, you can seamlessly integrate with Office 365, CRM for Sales, Power BI, and other Dynamics 365 applications through Microsoft's global integration. 

ERP Dynamics 365 Business Central can improve and automate all company processes and help optimize all processes to achieve better results.

 What is the Microsoft Dynamics 365 business Central?

Dynamics 365 Business Central is a business management solution for small and medium enterprises that can  optimize and simplify all business processes. Compared with its predecessor, Navision (Dynamics NAV), it also provides complete visual changes, making the user experience more flexible and complete.

Business Central is seamlessly integrated with CRM for Sales and Microsoft's CRM, providing a 360-degree view of the business and facilitating decision-making.

Another advantage of it is customization because it allows the management software to be expanded and adjusted according to the needs of each customer, and adapted to the characteristics and particularities of each activity department.

The Microsoft Ecosystem

Learn about the Microsoft stack

From familiar Office 365 solutions to Power Platform, Business Central has a wealth of wonderful products. Microsoft has invested heavily in the “stack” of its integrated products, which means that Business central  purchase orders can be created in Outlook and Power BI charts that appear in your Business Central role center. No other ERP on the market is surrounded by such an infrastructure, and we are very excited about future products!

How can I extend my Business Central solution?

Dynamics 365 Business Central is a flexible and feature-rich ERP solution. In addition to standard functions, you can also add additional functions to Business Central in areas that your business needs. Add Jet Reports for powerful organization-wide reports, Continia Document Capture to automate your AP process, Tasklet Factory to move your warehouse, just to name a few!

Dynamics 365 business center services

At Great Innovus, we have a team of experienced Dynamics 365 Business Central consultants who use Dynamics 365 Business Central and your business practices to improve your productivity and collaboration. From Dynamics 365 Business Central pricing and licensing to support and maintenance, migration to upgrades, our dedicated Dynamics 365 Business Central consultants can help you get the best efficiency through the Dynamics 365 Business Central system.

Why choose Great Innovus as your Microsoft Dynamics 365 Business Central partner?

As a well-known Dynamics 365 Business Central partner, Great Innovus has the expertise to handle the old version of Dynamics NAV. Our experienced Dynamics 365 consultants will assist you in taking advantage of the features of Microsoft Dynamics 365 Business Central while optimizing your business to provide excellent results.

❖ Trusted Dynamics 365 Business Central partner

❖ Microsoft Business Center Practice Expert

❖ Previous experience using Dynamics 365 Business Central

❖ Multiple business center implementation packages-quick start, quick and advanced models

❖ Cost-effective implementation method

❖ Certified business center professionals with more than 5+ years of experience

❖ Stellar customer reference