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The Future of Business Intelligence with Power BI and Dynamics 365 Business Central

March 23, 2023 | Microsoft Dynamic 365, Power BI, Technology | No Comments

In the world of business, having access to accurate and timely information is crucial. It enables organizations to make informed decisions, stay ahead of the competition, and achieve their goals. This is where Business Intelligence (BI) comes in – it provides valuable insights into business performance through the analysis of data. And with the increasing use of technology in business, BI has become an integral part of every organization’s operations.


One of the most popular BI tools in use today is Microsoft Power BI. Power BI is a cloud-based business analytics service that provides interactive visualizations and business intelligence capabilities with an interface that is simple enough for end-users to create their own reports and dashboards. Another powerful tool in the Microsoft stack is Dynamics 365 Business Central, which is a cloud-based enterprise resource planning (ERP) system that offers financial management, supply chain management, and customer relationship management functionality.


Together, these two tools offer a powerful combination of BI and ERP capabilities that can help organizations make better decisions, improve their processes, and gain a competitive edge in their industries. In this blog post, we’ll explore the future of business intelligence with Power BI and Dynamics 365 Business Central.


Transforming Business with Power BI and Dynamics 365 Business Central


Real-time insights and analytics

One of the biggest advantages of using Power BI and Dynamics 365 Business Central together is the ability to access real-time insights and analytics. With Power BI, you can create interactive dashboards and reports that provide a real-time view of your business data. This means you can make decisions based on the most up-to-date information, and respond quickly to changes in the market.


Better decision-making

Power BI and Dynamics 365 Business Central offer a unified view of your business data, which means you can analyze information from multiple sources in one place. This makes it easier to identify patterns and trends, and make better decisions based on the insights gained from the data. With Power BI’s machine learning capabilities, you can even predict future outcomes and make proactive decisions that can improve your business performance.

Collaboration tools for improved communication


Power BI and Dynamics 365 Business Central offer collaboration tools that enable teams to work together more effectively. With Power BI, you can share dashboards and reports with others in your organization, and even collaborate in real-time. With Dynamics 365 Business Central, you can share data across departments and ensure everyone is working with the same information. This can lead to better communication, improved productivity, and faster decision-making.


Robust security features for data protection


With the increasing importance of data security and privacy, Power BI and Dynamics 365 Business Central offer robust security features that can help protect your data. With Power BI, you can control access to your reports and dashboards, and even encrypt your data in transit and at rest. With Dynamics 365 Business Central, you can define user roles and permissions to ensure that sensitive data is only accessed by authorized personnel.


Scalability and flexibility for business growth


As your business grows, Power BI and Dynamics 365 Business Central can grow with you. With Power BI, you can easily scale up or down as needed, and even integrate with other Microsoft tools and services. With Dynamics 365 Business Central, you can customize your ERP system to meet your specific business needs, and even add new functionality as your business evolves.


The future of business intelligence with Power BI and Dynamics 365 Business Central is bright. These two powerful tools offer a unified view of your business data, real-time insights, enhanced collaboration, and robust security features that can help organizations make better decisions, improve their processes, and gain a competitive edge in their industries. With the increasing importance of data in business, Power BI and Dynamics 365 Business Central are essential tools that every organization should consider.

Revolutionizing Business Intelligence: Key Trends Shaping the Future


AI and machine learning

The integration of AI and machine learning capabilities into Power BI and Dynamics 365 Business Central is expected to be a major trend in the future of BI. These tools can analyze data at scale, identify patterns and anomalies, and even predict future outcomes. With machine learning algorithms, businesses can automate repetitive tasks, improve decision-making, and enhance their overall performance.


Augmented analytics

Augmented analytics refers to the use of AI and machine learning to automate and improve the data preparation and analysis process. This means that end-users can create their own reports and dashboards with minimal effort, allowing them to focus on extracting insights and making decisions. This trend is expected to continue in the future, making BI more accessible to non-technical users.


Cloud-based BI

Cloud-based BI solutions like Power BI and Dynamics 365 Business Central offer several advantages over traditional on-premises solutions. They are more scalable, cost-effective, and accessible from anywhere. With the increasing adoption of cloud technology, it is expected that more businesses will move their BI solutions to the cloud in the future.


Integration with other tools

Power BI and Dynamics 365 Business Central already integrate with other Microsoft tools and services, such as Excel, SharePoint, and Teams. In the future, we can expect even tighter integration with other BI and ERP tools, as well as third-party software. This will make it easier to access and analyze data from different sources, and improve collaboration across teams.


Data governance and privacy

Data governance and privacy will continue to be major concern for businesses in the future. Power BI and Dynamics 365 Business Central already offer robust security features, but we can expect even more emphasis on data governance and privacy in the future. This includes features like data lineage, data cataloging, and compliance with regulations like GDPR and CCPA.


Real-time analytics and IoT

Real-time analytics and the Internet of Things (IoT) are already transforming the way businesses operate. With real-time analytics, businesses can make decisions faster and respond to changes in the market more effectively. IoT devices generate vast amounts of data that can be analyzed to improve operations and gain insights. Power BI and Dynamics 365 Business Central already support real-time analytics and IoT integration, and this trend is expected to continue in the future.


Self-service BI

Self-service BI refers to the ability of end-users to create their own reports and dashboards without the need for IT intervention. This trend is already well-established, but we can expect even more emphasis on self-service BI in the future. This will enable businesses to be more agile and responsive, and reduce the burden on IT departments.


Wrapping up


Business Intelligence (BI) plays a significant role in helping organizations make informed decisions, stay ahead of the competition and achieve their goals. One of the most popular BI tools is Microsoft Power BI and Dynamics 365 Business Central. Together, they offer a powerful combination of BI and ERP capabilities that can help organizations make better decisions, improve their processes, and gain a competitive edge in their industries. The future of business intelligence with these tools looks bright with trends such as AI and machine learning, augmented analytics, cloud-based BI, integration with other tools, data governance and privacy, and real-time analytics and IoT expected to shape the industry.

Streamlining Business Operations with Great Innovus‘ Power BI and Dynamics 365 Business Central Integration

Great Innovus is a company that specializes in providing cutting-edge technology solutions to businesses across various industries. One of the key solutions that Great Innovus offers is the integration of Power BI and Dynamics 365 Business Central, which has the potential to revolutionize the way businesses approach business intelligence.


By integrating Power BI and Dynamics 365 Business Central, Great Innovus helps businesses gain real-time insights and analytics, enabling them to make better decisions based on up-to-date information. This integration also offers a unified view of business data, making it easier to analyze information from multiple sources in one place and identify patterns and trends. With machine learning capabilities, businesses can even predict future outcomes and make proactive decisions to improve their performance.


Great Innovus also helps businesses improve collaboration by leveraging the collaboration tools offered by Power BI and Dynamics 365 Business Central. By sharing dashboards and reports and collaborating in real-time, teams can work together more effectively, leading to better communication, improved productivity, and faster decision-making.


Great Innovus helps businesses enhance their data security by leveraging the robust security features offered by Power BI and Dynamics 365 Business Central. By controlling access to reports and dashboards, encrypting data in transit and at rest, and defining user roles and permissions, businesses can ensure that sensitive data is only accessed by authorized personnel.


Finally, Great Innovus helps businesses scale and customize their solutions to meet their specific needs. With the scalability and flexibility offered by Power BI and Dynamics 365 Business Central, businesses can easily adjust to changing business requirements and even integrate with other Microsoft tools and services to further streamline their operations. Overall, the potential of Power BI and Dynamics 365 Business Central, coupled with the expertise of Great Innovus, can help businesses achieve unprecedented levels of efficiency, productivity, and performance.


For more information on Business Intelligence with Power BI and Dynamics 365 Business Central, connect with the experts at Great Innovus.

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By Great Innovus

Why Microsoft Dynamics D365 is the Right Choice for Food and Beverage Manufacturers

March 2, 2023 | Digital Transformation, ERP, Food and Beverages Industry, Microsoft Dynamic 365 | No Comments

The Food and Beverage (F&B) industry is complex and highly competitive, with constantly evolving consumer demands, regulatory requirements, and supply chain challenges. In such a dynamic landscape, F&B manufacturers need a comprehensive business solution that can help them streamline their operations, enhance productivity, and stay ahead of the competition. Microsoft Dynamics 365 (D365) is one such solution that has emerged as a popular choice among F&B manufacturers. In this blog, we will discuss why D365 is the right choice for F&B manufacturers.

Here are some key reasons why Dynamics D365 is the right choice for food and beverage manufacturers and how it can help them achieve their business goals:


As the food and beverage industry continues to evolve and face new challenges, manufacturers need a comprehensive solution that can help them streamline their operations, reduce costs, and drive growth. Microsoft Dynamics D365 is a cloud-based enterprise resource planning (ERP) solution that offers a range of features and functionalities designed specifically for the food and beverage industry

End-to-End Solution

Food and beverage manufacturers require an end-to-end solution that can handle their entire business operations, from procurement to production, distribution, and sales. Dynamics D365 is an all-in-one solution that can manage critical business processes such as inventory management, quality control, production planning, and financial management. By having all these processes integrated into one system, manufacturers can easily manage their entire business from a single platform.

 

Real-Time Visibility

Food and beverage manufacturers need real-time visibility into their business operations to make informed decisions and improve their operational efficiency. With Dynamics D365, manufacturers can get real-time insights into inventory levels, production schedules, sales, and financials. This helps F&B manufacturers optimize their operations, reduce costs, and improve customer satisfaction.

 

Enhanced Quality Control

Quality control is essential for F&B manufacturers to ensure product safety, compliance, and customer satisfaction. D365 offers advanced quality control features that allow manufacturers to track quality parameters at every stage of the production process. This helps them identify and address quality issues early on, thereby reducing waste and recalls, which can significantly impact a manufacturer's bottom line.

 

Agility and Flexibility

In today's fast-paced business environment, food and beverage manufacturers need to be agile and flexible to adapt to changing consumer demands, market trends, and regulatory requirements. Dynamics D365 provides a flexible and scalable platform that can be easily customized to meet the unique needs of food and beverage manufacturers. It also enables manufacturers to quickly adjust production schedules, optimize inventory levels, and launch new products in response to changing market conditions.

 

Seamless Integration 

Food and beverage(F&B) manufacturers often use multiple software applications to manage their business processes, such as accounting software, production planning software, and inventory management software. Dynamics D365 offers seamless integration with other Microsoft products, such as Microsoft Office, Power BI, and Azure, as well as third-party applications. This enables manufacturers to streamline their business processes and improve productivity.

 

Compliance and Security: F&B manufacturers are subject to stringent regulatory requirements, such as FDA regulations, HACCP, and FSMA. D365 offers robust compliance and security features that help F&B manufacturers meet these requirements and safeguard their data. It also provides comprehensive audit trails and data encryption to ensure data integrity and confidentiality.

 

Enhanced Customer Experience: The Food and beverage industry is highly customer-centric, and customer satisfaction is critical for success. D365 offers advanced customer relationship management (CRM) features that allow F&B manufacturers to manage customer interactions, track customer preferences, and provide personalized services. This helps them improve customer satisfaction and loyalty, and drive sales growth.

Wrapping

Food & Beverage manufacturers need a comprehensive and agile business solution that can handle their complex and evolving business needs. Microsoft Dynamics 365 offers a powerful platform that can help F&B manufacturers streamline their operations, enhance productivity, and improve customer satisfaction. With its end-to-end capabilities, real-time visibility, advanced quality control features, seamless integration, and compliance and security features, D365 is the right choice for F&B manufacturers looking to stay ahead of the competition.

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Explore more about: Transforming your Food & Beverage (F&B) business with Dynamics ERP system

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How Great Innovus Can Help Food and Beverage Manufacturers Leverage the Full Potential of Dynamics D365

 

Great Innovus, being a certified Microsoft Dynamics partner, can help food and beverage manufacturers leverage the full potential of Dynamics D365 for their business. Here's how:

 

Expert Consultation and Implementation:

Great Innovus can provide expert consultation and guidance to help food and beverage manufacturers choose the right Dynamics D365 modules and features that suit their business needs. Our team of experienced consultants can help manufacturers understand the system's capabilities and design a tailored implementation plan that meets their specific requirements. We ensure that the implementation is smooth, and the system is configured to work seamlessly with the manufacturer's existing business processes.

 

Customization and Integration:

Dynamics D365 can be customized and integrated with other third-party applications to meet specific business requirements. Great Innovus can provide custom development and integration services to help food and beverage manufacturers extend the functionality of Dynamics D365 and integrate it with other business-critical applications. We ensure that the integration is seamless, and the data flows smoothly across systems.

 

Training and Support:

Great Innovus offers training and support services to help food and beverage manufacturers make the most of their Dynamics D365 investment. We provide comprehensive training to ensure that the manufacturer's employees are proficient in using the system and can get the most out of its features. Our support team is always available to address any issues or concerns that may arise and ensure that the system runs smoothly and efficiently.

 

Ongoing System Maintenance and Upgrades:

Dynamics D365 requires ongoing maintenance and upgrades to keep up with the manufacturer's changing business needs and technology advancements. Great Innovus can provide ongoing system maintenance and support services to ensure that the system runs smoothly and efficiently. We also provide system upgrade services to help manufacturers stay up-to-date with the latest system enhancements and features.

 

Great Innovus can help food and beverage manufacturers leverage the full potential of Dynamics D365 by providing expert consultation, customization, integration, training, support, and ongoing system maintenance and upgrades. With our help, manufacturers can streamline their operations, increase efficiency, reduce costs, and ultimately drive growth and profitability.

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Explore more about: Maximize efficiency and ensure compliance in the food and berverage industry with Microsoft Dynamics 365 Business Central

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By Great Innovus

Transforming your Food & Beverage (F&B) business with Dynamics ERP system and E-Commerce Integration

February 9, 2023 | ERP, Food and Beverages Industry, Microsoft Dynamic 365 | No Comments

As the food industry continues to grow, the importance of having a reliable and efficient system for managing your operations has never been greater. With the rise of e-commerce and online ordering, it’s essential that food businesses have a platform that can keep up with the changing demands of the market.

 

This is where Dynamics ERP software comes in. By integrating e-commerce with your system, you can streamline your operations and provide your customers with a seamless online ordering experience.

In this blog, we’ll take a closer look at why switching to an integrated e-commerce system is essential for the growth and success of your food business.

Improved Customer Experience

One of the biggest benefits of integrating e-commerce with your Dynamics ERP software is the improved customer experience. With the ability to place orders and track their progress in real-time, customers are able to get the information they need at their fingertips. This not only helps to build trust and loyalty with your customers, but it also leads to a more efficient ordering process and increased sales.

Efficient Order Processing

Another key benefit of integrating e-commerce with your ERP system is improved order processing. By having all of your customer, inventory, and order information in one place, you can quickly and easily process orders and manage your inventory levels. This helps to minimize errors, reduce waste, and increase efficiency in your operations.

Reduced Costs

Integrating e-commerce with your Dynamics ERP software also has the potential to reduce your costs. By automating manual processes and reducing the need for manual data entry, you can save time and reduce the risk of errors. Additionally, by having real-time visibility into your inventory levels and customer orders, you can make more informed decisions about your operations and reduce the cost of waste and overstocking.

Improved Data Management

With an integrated e-commerce system, you’ll have access to more accurate and up-to-date information about your customers, inventory, and sales. This can help you make more informed decisions about your operations and improve your overall business performance. Additionally, by having all of your data in one place, you can quickly and easily run reports and track your progress over time.

Increased Sales

By providing your customers with a seamless online ordering experience, you can increase your sales and grow your business. With the ability to place orders 24/7 and track their progress in real-time, customers are more likely to return to your business and recommend it to others. Additionally, by having an integrated e-commerce system, you can easily manage promotions, discounts, and other sales strategies to drive growth.

The Benefits of Integrating E-commerce with Dynamics ERP Software for Your Food Business

Scalability: An integrated e-commerce system is scalable and can grow with your business. As your business expands, your system will be able to accommodate new customers, new products, and increased sales volume.

Inventory Management: With an integrated e-commerce system, you can manage your inventory levels in real time. This helps to ensure that you never run out of stock, and also reduces the cost of overstocking.

Mobile Compatibility: An integrated e-commerce system is optimized for mobile devices, which is important given the increasing number of customers who prefer to shop and place orders on their smartphones and tablets.

Customer Segmentation: An integrated e-commerce system allows you to segment your customer base and tailor your marketing strategies to specific groups. This can help to improve the relevance of your promotions and increase the effectiveness of your marketing campaigns.

Integration with Other Systems: Dynamics ERP software can be easily integrated with other systems, such as accounting, logistics, and shipping, which helps to streamline your operations and reduce the risk of errors.

User-Friendly Interface: The user-friendly interface of Dynamics ERP software makes it easy for your employees to use, even if they have limited technical skills. This helps to minimize the learning curve and get your employees up and running quickly.

Secure Data: An integrated e-commerce system is secure, and your data is protected with the latest security protocols. This helps to ensure that your customer information, sales data, and other sensitive information are protected from theft or unauthorized access.

Customizable: Dynamics ERP software is customizable and can be tailored to meet the specific needs of your business. This helps to ensure that your system is optimized for your operations and provides the functionality that you need to succeed.

Wrapping Up

Switching to an integrated e-commerce system with Dynamics ERP software is a smart choice for any food business looking to streamline their operations and provide a better customer experience. With the ability to improve order processing, reduce costs, improve data management, and increase sales, this platform has the potential to take your business to the next level. So why wait? Start exploring your options and see how integrating e-commerce with your Dynamics ERP software can benefit your business today!

Get the Most Out of Your Dynamics ERP with Great Innovus


Great Innovus is a leading provider of technology solutions for the food and beverage industry. They specialize in providing innovative and effective solutions for businesses of all sizes in this industry, including Dynamics ERP software.

The company offers a range of services and support to help businesses in the food and beverage industry maximize the benefits of integrating e-commerce with their Dynamics ERP software. These services include:

Consultation and Analysis: Great Innovus provides expert consultation and analysis to help businesses determine the best solutions for their specific needs. They work with businesses to understand their operations, goals, and challenges, and recommend the best solutions to meet those needs.

Implementation: Great Innovus provides expert implementation services to help businesses integrate e-commerce with their Dynamics ERP software. They work with businesses to ensure that their systems are set up correctly and efficiently, and that they are getting the most out of their investment.

Training and Support: Great Innovus provides comprehensive training and support services to help businesses get the most out of their e-commerce and Dynamics ERP software systems. They offer training sessions and ongoing support to ensure that businesses are able to use their systems effectively and efficiently.

Customization: Great Innovus provides customization services to help businesses tailor their e-commerce and Dynamics ERP software systems to meet their specific needs. They work with businesses to develop custom solutions that are optimized for their operations and provide the functionality that they need to succeed.

By providing these services and support, Great Innovus helps businesses in the food and beverage industry to optimize their operations, reduce costs, increase sales, and grow their business. If you're looking for a reliable and experienced partner for your Dynamics ERP software needs, Great Innovus is the company for you.

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By Great Innovus

Navigating the Food Industry Trends of 2023 with Microsoft Dynamics Business Central

January 4, 2023 | Food and Beverages Industry, Microsoft Dynamic 365, Technology, Trends | No Comments

In the rapidly evolving food industry, it is important for companies to stay up-to-date on the latest trends in order to remain competitive. Some key trends to pay attention to in 2023 include the continued growth of plant-based protein, the importance of sustainability, the rise of alternative proteins, the growth of online grocery shopping, and the need for traceability. Microsoft Dynamics Business Central helps food companies navigate these trends and challenges by providing a comprehensive business management solution. With features such as improved efficiency, enhanced traceability, greater agility, and enhanced collaboration, Dynamics Business Central can help food companies stay ahead of the curve and thrive in a competitive market.


Food industry trends are constantly evolving, and it is important for companies to stay up-to-date in order to remain competitive. Here are some key trends that food companies should pay attention to in 2023:

Plant-based proteins will continue to gain popularity

Plant-based protein sources, such as beans, lentils, and tofu, have been gaining popularity in recent years due to their perceived health benefits and environmental sustainability. This trend is expected to continue, with the plant-based meat market expected to reach $85 billion by 2030. Food companies that can offer high-quality plant-based protein products will be well-positioned to capitalize on this trend.


Sustainability will be a major focus

Consumers are increasingly concerned about the environmental impact of their food choices and are looking for brands that prioritize sustainability. This includes reducing food waste, using eco-friendly packaging, and sourcing ingredients locally. Food companies that can demonstrate a commitment to sustainability will be better able to attract and retain customers.


The rise of alternative proteins

In addition to plant-based proteins, alternative protein sources such as insects, algae, and lab-grown meat are starting to gain mainstream acceptance. These protein sources offer potential environmental and health benefits, as well as being more sustainable than traditional animal agriculture. Food companies that can offer innovative alternative protein products will be well-positioned to tap into this growing market.


The growth of online grocery shopping

The pandemic has accelerated the trend of online grocery shopping, and it is expected to continue in the coming years. This shift presents both opportunities and challenges for the food industry, as companies will need to adapt to new distribution channels and consumer habits. Food companies that can effectively leverage online channels will be better able to reach and engage with customers.


The importance of traceability

With the global supply chain becoming increasingly complex, traceability will become increasingly important for food companies. Consumers want to know where their food is coming from, how it was produced, and whether it meets certain standards (e.g. organic, fair trade). Food companies that can provide transparency and traceability will be better able to build trust with customers.


How Microsoft Dynamics Business Central helps food companies

Microsoft Dynamics Business Central helps food companies navigate these trends and challenges by providing a comprehensive business management solution. Some of the key benefits of using Dynamics Business Central include:

Improved efficiency

Dynamics Business Central can help streamline operations, reducing the time and resources needed to manage key business processes. This can include automating tasks such as invoicing, inventory management, and order processing.


Microsoft Dynamics Business Central helps food industries improve efficiency by streamlining operations and automating key business processes. Some specific ways that Dynamics Business Central helps food industries improve efficiency include:


Inventory management: Dynamics Business Central offers robust inventory management capabilities, allowing companies to track and manage their inventory in real time. This can help food industries avoid running out of stock, reduce waste, and lower storage costs.


Order processing: The platform's order processing features can help food industries automate and streamline the process of taking orders, ensuring that orders are fulfilled accurately and efficiently.


Invoicing: Dynamics Business Central offers tools for automating the invoicing process, reducing the time and resources needed to create and send invoices.


Production management: The platform offers tools for managing and optimizing production, including the ability to track and manage production orders, materials, and capacity.

Enhanced traceability

The platform offers robust supply chain and inventory management capabilities, making it easier to track the origin and movement of goods. This can help food companies meet traceability requirements and provide transparency to customers.


Some specific ways that can Dynamics Business Central help food industries improve traceability include:

Supply chain management: The platform offers tools for tracking the origin and movement of goods through the supply chain, helping food industries ensure that they are sourcing ingredients from reputable suppliers and meeting traceability requirements.


Inventory management: Dynamics Business Central allows companies to track and manage their inventory in real time, making it easier to trace the movement of goods through the supply chain.


Quality control: The platform offers tools for managing quality control processes, including the ability to track and manage quality issues and recalls.


Customer tracking: Dynamics Business Central allows companies to track customer orders and preferences, helping to build trust and improve the customer experience.

Greater agility

Dynamics Business Central allows companies to quickly adapt to changes in the market, such as shifts in consumer demand or new regulations. The platform offers tools for tracking and analyzing key performance indicators, which can help companies make informed decisions and respond to changing market conditions.


Microsoft Dynamics Business Central helps food industries increase agility by providing tools for tracking and analyzing key performance indicators, and by allowing companies to quickly adapt to changes in the market. Some specific ways that Dynamics Business Central can help food industries increase agility include:


Real-time data: The platform offers real-time data and analytics tools, allowing food industries to track and analyze key performance indicators in real time. This can help companies identify trends and issues, and make informed decisions based on accurate and up-to-date information.


Customization: Dynamics Business Central allows companies to customize the platform to meet their specific needs and processes, helping to increase agility and adaptability.


Scalability: The platform is scalable, allowing food industries to easily expand or adjust their operations as needed to meet changing market conditions.


Integration: Dynamics Business Central can be easily integrated with other systems and applications, allowing food industries to seamlessly share data and work across departments and teams.

Enhanced collaboration

The platform offers tools for collaboration and communication across teams, helping to improve communication and decision-making. This can be especially important in the fast-paced and rapidly changing food industry.


Some specific ways that Dynamics Business Central helps food industries enhance collaboration include:


Project management: The platform offers project management tools, allowing food industries to coordinate and track the progress of projects across teams and departments.


Team communication: Dynamics Business Central offers tools for team communication, such as chat and messaging functions, which can help teams stay connected and work together more effectively.


File sharing: The platform allows teams to easily share documents and files, improving communication and reducing the risk of errors or misunderstandings.


Data sharing: Dynamics Business Central can be integrated with other systems and applications, allowing teams to share data and work seamlessly across departments and teams.

Final Thought
the food industry is constantly evolving, and companies must stay up-to-date on the latest trends in order to remain competitive. Some key trends to pay attention to in 2023 include the continued growth of plant-based protein, the importance of sustainability, the rise of alternative proteins, the growth of online grocery shopping, and the need for traceability. Microsoft Dynamics Business Central can help food companies navigate these trends and challenges by providing a comprehensive business management solution. With features such as improved efficiency, enhanced traceability, greater agility, and enhanced collaboration, Dynamics Business Central can help food companies stay ahead of the curve and thrive in a competitive market. By leveraging the advanced features and capabilities of the platform, food companies can improve efficiency, enhance traceability, increase agility, and strengthen collaboration, ultimately driving better business results.

How Great Innovus Can Help

At Great Innovus, we have a team of experienced professionals who are experts in implementing and customizing Dynamics 365 Business Central for food and beverage businesses. We work with our clients to understand their unique needs and challenges and help them leverage the software to streamline their operations and improve efficiency.

 

As a leading provider of business solutions, we understand the unique challenges and opportunities faced by food and beverage businesses. One way we help our clients transform their operations is through the use of Dynamics 365 Business Central, a cloud-based software solution that provides a range of tools and features designed specifically for the industry.

 

In addition to implementation and customization services, we also offer ongoing support and training to ensure that our clients are able to make the most of their investment in Dynamics 365 Business Central.

 

Great Innovus and Dynamics 365 Business Central can help transform your food and beverage business by streamlining and automating processes, providing real-time visibility, and enhancing collaboration and communication. With its powerful cloud-based technology, you can take your business to the next level and achieve greater success.

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By Great Innovus

A Steps to Take for a Successful ERP Implementation for Small Business

December 6, 2022 | Digital Transformation, Microsoft Dynamic 365, Technology | No Comments

When your company's basic finances and operations are no longer adequate, it may be time to implement a modern enterprise resource planning (ERP) system.


As new ERP features and applications are continuously developed, it is important to evaluate your options. Plus, in this competitive environment, chances are your peers are already updating their ERP systems, and you want to stay relevant.

 

What is an ERP system?

ERP is enterprise management software that enables organizations to use integrated application systems to manage and integrate a company's financial, supply chain, operations, reporting, manufacturing, and human resource activities.

Now that you understand what an ERP system is, learn five steps you can take to implement a better solution for your business. 

 

Determine the limitations of the current system

Here are three signs that it may be time to replace legacy systems and implement new software:

 

Growth Cap

As you grow, add more people, customers, and business processes, or enter new lines of business or markets, are your current systems keeping up with you? An ERP solution should enable your business to scale while operating and maintaining day-to-day business processes.


Lack of Insight

While ERP software provides real-time visibility across the organization and insight into the industry landscape, many companies still opt for legacy software that operates independently of other systems. This may lead to different departments fighting in isolation. Software that connects all disparate systems while providing data analytics and business insights is a win-win that delivers productivity, growth and competitive advantage.

 

Expensive Legacy Systems

 Most companies take a hard look at what they are paying for their current ERP deployment fees and maintenance.

While aware of the hard costs, most don't understand the pros and cons of each deployment option, whether it's an on-premises, cloud or hosted ERP solution. It may be time to think carefully about whether to move to the cloud, keep things on-premises, or invest in a combination of the two.

Tip

Many companies think they need to do a complete ERP overhaul and get rid of the systems they currently use, but that's not the case. An ERP system can be the sum of many applications and extensions. So if you don't currently have a system that allows you to maintain your workflow and add new ones, look for software that does.


Remember what an ERP system should provide

Let's start with the specifics of ERP. Here are some basic components that any legacy ERP system should have:

Financial Management:

In addition to helping you comply with government regulations, your system should provide accurate data and analytics to keep you on top of your budget, including multi-currency management, cash flow management, and banking transactions.


Manufacturing:

 This capability is designed to give manufacturers access to real-time data to optimize production planning, project and cost management. ERP manufacturing should also provide the ability to manage resources and meet customer needs. 


Supply chain

As the days of manually entering information and conducting physical counts are a thing of the past, this capability should improve warehouse and inventory management and give companies better visibility into their products and integrated logistics. 


Discover what a modern ERP system can offer

Modern ERP systems offer built-in intelligence to guide users to the best possible outcome. They also scale with your business as you expand into other markets and help keep customer and company data safe. Additionally, modern ERP platforms better meet your business needs by offering more cost-effective customization options. This means it can work with your legacy systems, but also scale your day-to-day processes as you grow. Some other resource scheduling tools it offers may help you:

 

♦ Improve productivity.

♦ Take control of financial management.

♦ Provide better customer service.

♦ Help with human resource management.

♦ Simplify project management requirements.

♦ Improve supply chain and operations management. 

♦ Make better decisions with business intelligence and AI.

 

Global ERP also has its advantages. It simplifies all these essential financial and operational functions and helps you maintain standard business processes that help you reach new markets and do business globally. Globally, ERP systems provide the following tools:

 

* Helps collaborate in your virtual organization.

* Support for new locations allows you to easily expand into new markets.

* Standardize on a single ERP solution and help simplify your IT environment.

 

Create a game plan

It can be overwhelming when you're considering implementing a brand-new system or knowing what to add or remove from a system you already have. The better your plan, the smoother your upgrade or replacement of your legacy system will go. Start with these three steps:

 

To create a wish list:

Take note of the ERP features you already use. Even if it's just a simple financial and inventory tracking system. Now list the features you want or need. Now that you have some options and ideas, you can also investigate more specialized features, such as adding pre-built apps or creating custom apps.

 

Set a budget:

Now that you have created your wish list, the next step is to set a budget. As with buying a new car, you should know whether your budget allows for a used or new car. Knowing this can help you focus on the systems and features you should be looking for. Start with the cost of supporting and maintaining your system, then look for hidden fees.

 

Don't be afraid to ask questions:

Don't settle for a one-size-fits-all solution. Make sure the solution you're looking for matches your unique business needs. If you're looking to move from on-premises to the cloud but have security concerns, find a technology partner to help you address them.

 

Choose your technology partner

The most important part of implementing a new system is the technology partner you choose. If you get it right, it could be heaven for an ERP race, and hopefully, they'll be your partner until the system cuts you apart.

Support is key to success when implementing an ERP system, so you need to choose the right partner and have the support of a knowledgeable and responsive team of experts right from the start – for as long as you need it.

 

Greatinnovus is one of the most knowledgeable Microsoft ERP platform partners in the US and India when it comes to the Dynamics 365 Business Central experience.

 

If you are considering implementing an ERP system and would like to speak with a trusted partner, please contact the Great Innovus team. 

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By Great Innovus

Are you Running Small and medium Businesses? Business Central can help you grow fast!

November 9, 2022 | Digital Transformation, Microsoft Dynamic 365, Service | No Comments

SMEs may face various challenges. However, you may need more resources to overcome both of these problems. A centralized solution like Dynamics 365 Business Central is recommended. It is important to choose the right Business Central implementation partner with years of experience.

 

As an IT operations manager, you may encounter various issues related to current technology as only a few professionals have a huge responsibility. Instead, you can choose the right Business Central implementation partner, so you don't have to worry about that anyway. Otherwise, improving, maintaining, and building an IT environment is more complicated than you might think. Some of the most common questions an IT operations manager may encounter are:


System Integration: Integrating multiple services written in different formats can be a headache. While systems and service integration formats can bring huge benefits, it all comes down to built-in complexity.


Cost Reduction: Balancing technology development and cost reduction becomes one of the toughest tasks for IT departments. However, IT engineers must ensure that their technology solutions meet cost specifications. Instead, they can own the D365 BC and turn to a business center implementation partner to take full responsibility for maintenance and upgrades.


Privacy: Cybersecurity or security is one of the top concerns for IT today. Since we share a lot of personal information, identities, etc. across different online platforms, we are vulnerable to data theft and other security issues. IT engineers need to find the right solution to keep data safe.


Increase employee productivity: The goal of every company in the world is to ensure employee productivity increases. Developing strategies to increase productivity can be challenging, as SMEs may compete with older, more stable firms. Purchasing a unified business management solution can help. The right technology and the right implementation partner will only get you ahead.

Internal Network: A strong and secure internal network is an essential requirement of any organization. A well-thought-out solution should be developed to meet current needs, and appropriate, scalable, and flexible technologies should be selected.

 

How can Business Central help you scale your SMB?

 

 If you're looking for the best ERP solution for your business, whether in the cloud or on-premises, chances are you've come across Dynamics 365 Business Central. As one of the best ERP solutions, it helps you seamlessly handle your business operations by automating and simplifying them. However, if you have already experienced LS Central's services and plan to upgrade to Microsoft Dynamics Business Central, here are the benefits you are entitled to if you continue.

 

If you’re looking for the best ERP solution for your business, whether in the cloud or on-premises, chances are you’ve come across Dynamics 365 Business Central. As one of the best ERP solutions, it helps you seamlessly handle your business operations by automating and simplifying them. However, if you have already experienced LS Central’s services and plan to upgrade to Microsoft Dynamics Business Central, here are the benefits you are entitled to if you continue.


Premium add-ons

With Business Central, you get premium add-ons under a unified platform like Microsoft O365.

You get access to Microsoft Teams, Skype for Business, Word, Excel, PowerPoint, Outlook, OneNote, Publisher, and OneDrive for Business. Additionally, each user is entitled to 1 TB of OneDrive for Business cloud storage. Some Office 365 applications support mobile versions for greater flexibility and ongoing operations, such as PowerPoint, Word, Excel, and more. You can also request 1 TB of OneDrive for Business cloud storage per user.


Power BI

Gain business insights more easily with Power BI. It is a data visualization system developed by Microsoft that allows you to create dashboards and related reports. Power BI for Business Central gives you the flexibility to customize and drill down into reports. You can even pool data from different companies and compare them thoroughly or use it to develop better strategies. Some BI reports can even be burned into Business Central without you even having to leave the system. So don’t be afraid to create complex dashboards, because Power BI has it all. For a better experience, we recommend working with an experienced Microsoft Business Central implementation partner.


Cloud Security

Moving to the cloud will only increase employee flexibility. However, it can expose your business to sometimes subtle and sometimes harmful effects. Business Central follows Microsoft’s modern lifecycle strategy of unavoidable service updates every six months in April and October. Microsoft Application Security helps protect your Business Central applications no matter where they are hosted. It authenticates, authorizes, inspects, and encrypts data, and executes the security development lifecycle (the process used to develop even secure software). Since it is hosted by and on Microsoft Cloud Azure, bank-level security is guaranteed.


Flexible, scalable and extensible

Another important feature of Business Central is its flexibility. Because it allows the use of industry-specific tools, you can customize it to fit your system and stay more connected to the data that matters most to your business. Another factor that supports its flexibility is the cloud. Upgrading your system to the cloud can store more data than any particular database or server. Also, it is scalable and can easily manage data, which means it is suitable for different businesses and is ideal for growing companies. 


Rapid deployment with the right Business Center implementation partner

 

Powerful doesn't mean complicated. Easy to deploy with Microsoft Azure. You can even choose to deploy your hardware locally. It all depends on your preference. Azure connects up to 100 facilities in this vast network.

 

Each feature is very secure and combined to keep you safe. Whatever your preference, it won't be a barrier to the rapid deployment of Dynamics 365 Business Central. We recommend working with an appropriate and highly qualified Business Central implementation partner with sufficient experience to meet your business needs.

 

Final words

We can conclude that Business Central is one of the best business management solutions available and can potentially solve all business challenges of SMBs. It is important to choose the right Business Central partner, such as Great Innovus, a Microsoft Business Central implementation partner, who is equipped with immediately qualified teams and over 5+ years of experience. Contact us for more questions.

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By Great Innovus

What are the benefits of cloud ERP software to your Business – Great Innovus

October 28, 2022 | Microsoft Dynamic 365, Technology, Trends | No Comments

 While many companies rely on operational and finance software to run their businesses, most have limited capabilities to help organizations foster future growth. ERP (Enterprise Resource Planning) software helps businesses manage day-to-day business activities and control the flow of data between different business systems. Cloud ERP software represents a step forward in helping organizations meet changing business needs. 

What is cloud ERP software?

Traditional ERP platforms often operate as separate entities and do not always coordinate with other systems. IT departments had to set up complex code modules to meet the specific business needs of the organization.

Modern cloud-based ERP systems combine disparate processes into a fluid ecosystem. They connect with other productivity tools, e-commerce platforms and customer engagement solutions to help businesses uncover insights to optimize business operations.

Traditional cloud ERP software is installed in a company's server infrastructure. The company's IT department is responsible for updating and maintaining the ERP to keep the information current. 

Cloud-based ERP eliminates the need for companies to maintain proprietary servers. Instead, information is stored in the cloud and shared between different departments. All ERP platforms store data in a shared database that supports multiple functions. Employees in the organizational field use the same information to complete business tasks without extensive changes to cloud ERP.

What benefits does cloud ERP systems offer?

ERP systems are used by all types of businesses. However, manufacturing companies use their platforms differently than the financial sector. A good ERP cloud solution can fit into any industry and help increase productivity and efficiency.

It enables organizations to simplify essential business functions, automate manual tasks and identify opportunities to improve current business processes.

 Let's see how businesses of all sizes can benefit from cloud ERP software.

1.Faster Update

Any ERP platform needs regular updates to maintain optimal system performance or address issues such as security vulnerabilities. Completing these tasks in an on-premises ERP system consumes a lot of IT time and resources. If something goes wrong, end users may experience issues such as using a different or incomplete new software version.

Cloud ERP systems help companies avoid issues related to missing updates. If you sign up for a cloud ERP platform such as Dynamics 365, it is Microsoft's responsibility to ensure your version is up to date. This means less disruption to day-to-day business. Users are often alerted to important updates and training opportunities.

2. Less Maintenance Cost

Another benefit of a cloud ERP platform over an on-premises setup is reduced implementation costs. Not a lot of hardware is bought for a server. Cloud ERP systems are a cost-effective option for small and midsize businesses that don't have the resources to set up an extensive server setup.

Businesses don't have to think about hiring experts for maintenance or upgrades. If your business wants to expand, simply upgrade your current ERP subscription tier. Cloud ERP providers host and manage the software used to maintain the system and provide ongoing support.

3. Faster Deployment

Setting up an on-premises ERP takes time and a lot of effort. This can lead to extended company downtime, especially if projects are not completed on time. A cloud-based ERP platform can be up and running quickly because you don't have to worry about setting up any hardware. In some cases, you can set up a cloud ERP in just a few days.

4. Be more flexible

The problem with many legacy systems is that organizations find it difficult to extend them to support business growth. Most modern cloud ERP software systems are equipped with technologies such as artificial intelligence (AI) and machine learning (ML). These capabilities help organizations spot trends and make data-driven business decisions.

Cloud ERP systems often have integrations for use with other cloud-based business tools. You can create reports from a central data store and create seamless workflows for employees.

5. Better Accessibility

Recovering from a disaster that causes hardware failure can result in extended business downtime and costly repairs. Cloud-based ERP systems use servers located in geographically distinct data centers. This helps businesses maintain access to information on the Internet, which in turn helps keep business running.

6. 100% uptime production systems

Today with a global user base, everyone wants to achieve 100% uptime for their Production systems and provides both backup and disaster recovery for your ERP, in one solution. This solution offers clients an affordable and comprehensive solution to ensure their  ERP systems are readily available in case of system issues or disasters. It gives them an alternative to traditional backup and disaster recovery solutions.

Most cloud platform architectures support without much hassle. The only pre-requisite is to have a good technical team who can support it.

Considerations for using cloud ERP software

Businesses should consider the potential challenges posed by deploying cloud ERP software, including:

  • ♦ Migration issues arising from migrating from traditional on-premises ERP systems to cloud-based systems.
  • ♦ There may be resistance from key stakeholders, including IT admins worried about losing full control over various back-end processes.
  • ♦ Need to comply with strict cybersecurity restrictions or address industry-specific regulatory compliance issues.

It helps to work with an ERP cloud provider that has experience dealing with these issues. Without experienced mentoring, even the most talented IT professionals can struggle. Transitioning to a more modern way of doing business is easier with experts guiding your business through potential obstacles.

Get help setting up your cloud ERP system

Great Innovus can help you realize your desire to transform into a more efficient way of doing business. We can help you leverage cloud ERP systems and simplify the way your business operates. Learn more about what Great Innovus can do for you by scheduling a consultation to discuss potential solutions.

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By Great Innovus

Why do small and medium-sized businesses(SMBs) need Dynamics 365 Business Central?

October 13, 2022 | Digital Transformation, Microsoft Dynamic 365, Service | No Comments

Dynamics 365 Business Central is the SMB leader
Microsoft's Dynamics 365 Business Central is the ERP market leader, offering a comprehensive range of features, functionality, and pricing for companies of all sizes! SMBs are well-positioned to upgrade to Dynamics 365 Business Central as their preferred ERP solution.

Small and medium businesses get a major upgrade with greatly enhanced functionality to meet their business needs, usually only available to large corporations! Add flexible pricing models to easily make Dynamics 365 Business Central a natural progression path for your next ERP cloud solution. Dynamics 365 Business Central offers several advantages when using Microsoft's ERP business applications and is a game changer in the SMB market.

Fusion is the key!
One of the most important and important advantages is that Business Central is not only part of the Dynamics 365 suite of business applications, but also part of the wider Microsoft environment. This provides simplified and seamless integration options for companies using Business Central.

Whether you choose a custom or additional integration path, you have unlimited opportunities to grow and expand as your business needs evolve and change, with flexibility and ease with Outlook, Power BI, Excel, SharePoint, CRM, eCommerce, Documents and Fees Integrated management and more…

Make the most of it by letting Dynamics 365 Business Central work for you!

Cost-Controlled Scalability
Dynamics 365 Business Central is ideal for SMBs looking to control cash flow and scale quickly. Dynamics 365 Business Central's pay-per-use model means you never have to worry about spending on business applications that you neither need nor use! With a flat monthly license fee, you can see exactly what your investment in an ERP solution is.

Out of the box
Enjoy the speed and flexibility to be up and running in days – quickly deploy ERP solutions with minimal downtime and virtually eliminate barriers to entry.

Increased Mobility in Times of Change
One of the most well-known benefits of cloud technology is the freedom of movement it offers employees, which is no longer the case in these unpredictable times. Instead of working in one central location, Dynamics 365 Business Central enables employees to work securely from anywhere, on any device. Your employees can use the powerful, rich features and functionality they traditionally get in the office – not remote work is just a click away, whether at home, in the center, or at the customer's site – with all the flexibility to increase productivity.

360-degree view of your business
When you use an end-to-end business management ERP solution, all your systems and processes are connected, your data is centralized, and your most important business insights are fully integrated, Thus providing you with real-time analysis of your business development at any point in time. Regardless of size or industry, siloed systems and disparate data present significant challenges, so deploying an integrated ERP solution in the cloud makes a lot of sense for companies looking to scale and grow their business.

Best-in-class security
Leverage Dynamics 365 Business Central SaaS – Microsoft's secure infrastructure for cloud-based ERP for all users. The cloud solution itself has built-in features to ensure automatic backup and safe storage of all your data. You can be sure that your ERP solution will operate at an affordable price in a secure IT infrastructure environment.

Enhanced cloud-based ERP user experience
Users can access truly important business information anytime, anywhere, on any device. This ensures that employees across the organization use the same data, regardless of business unit or location, and can make instant decisions faster and with more confidence.

Rapid deployment, upgrades, and accessibility
With Dynamics 365 Business Central in the cloud, you get the relevant training and resources you need to better understand and leverage your cloud environment. Provides rapid deployment of the latest version updates and a simple upgrade implementation process, allowing you to realize business value faster.

Improve performance and accelerate business growth
Upgrading to cloud-based ERP with Dynamics 365 Business Central gives you more flexibility to take advantage of evolving cloud-based ERP platforms. Benefit from the simplification and improved automation of end-to-end business processes in the cloud for new business growth opportunities.

Maintain Your Competitive Edge
Today's business environment is one that is constantly changing, exposing your business to unexpected and often volatile market conditions. Now more than ever, you need the flexibility to take a reactive rather than reactive approach to changing market conditions to maintain your competitive edge. Dynamics365 Business Central ERP solution in the cloud – giving you the scalability and agility to make it happen.

Add-ons and extensions
Increase the ROI of your Dynamics 365 Business Central investment with a variety of add-ons and extensions available on Microsoft AppSource to meet any industry need

Dynamics 365 Business Central Easy Start Cloud Pricing Option:
At great Innovus, we help our customers take advantage of a variety of flexible pricing options to best manage the Dynamics 365 Business Central technology investment that fits their business needs:

● Microsoft Dynamics 365 Business Central Easy Start Option Has been developed to make your decision-making easier and make your project as cost-effective as possible

● Just decide how many users you want and add a service pack that suits your needs

● Flexibility to customize or customize any of our standard packages to suit your needs

● You will receive a detailed project task list with time estimates for each position, and you can exchange or modify any tasks as needed

Next Steps
If you are a company looking to migrate from NAV to Business Central or looking to implement a low-cost ERP system like Business Central for the first time, give us a call so we can understand all the options.

Contact us today to learn more about how Great Innovus can help you accelerate your growth.

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By Great Innovus

Why should choose Microsoft Dynamics 365 Business Central as your ERP – Great Innovus

September 12, 2022 | Digital Transformation, Microsoft Dynamic 365, Technology | No Comments

Microsoft Dynamics 365 Business Central has proven to be the most reliable and consistent ERP software on the market. This powerful all-in-one solution helps you with financial management, project management, operations management, financial reporting, supply chain management and corporate governance while being simple, intuitive and customizable. If you run a small to medium business, are in charge of IT solutions for a mid-sized business, or are just looking for the best management tools available, look no further.

User-friendly and familiar interface
Microsoft Dynamics 365 Business Central has an easy-to-use interface similar to most accounting applications. This means you don't have to waste time teaching your employees how to use the app, they can start using it as soon as your company implements Dynamics 365 Business Central.

Extension-based development 
The model is based on a series of upgrades to the Microsoft Dynamics NAV/365 platform. The creation of extensions is the most important feature of the availability of Microsoft Dynamics 365 Business Central in the SaaS model. This improves the performance and scalability of Dynamics NAV / Business Central.

Risk reduction ratio
Trust is paramount when looking for an accounting solution for your business. Perhaps the most trusted brand in the world is Microsoft. So when you use Microsoft Dynamics 365 Business Central, you can rest assured that you will receive world class security, support, and maintenance.

Flexible deployment modes
Dynamics 365 Business Central is available for on-premises and cloud deployments. The solution can also be customized in terms of deployment technology to meet business needs.

The market's finest native integration is provided by ERP software
The natural integration of this software solution is one of its main benefits. You can utilise any tool or app with any other tool or app with ease. This is a workflow masterclass. This is the tool you need if agility is what you're after.

Agile and efficient
The software brings all data and processes together, helping organizations break down barriers between critical business platforms and increase employee productivity because they have all the insights they need to make the best decisions.

Smart Security
It is a cloud-based system that provides strong security for your physical data center, network connectivity, service hosting platform, and user and admin panels.

Boost your business growth
With Microsoft Dynamics 365 Business Central, you can easily integrate new processes and other business areas to re-scale and meet larger demands without compromising business performance and results. Simply because Dynamics 365 Business Central supports the business without burdening the IT budget.

Want to see Dynamics 365 Business Central in action?
Great Innovus is one of India's experienced Microsoft Dynamics partners for Dynamics NAV / D365 Business Central, providing ERP consulting to businesses of all types and industries for over 5 years. We'd love to show you what's possible with Business Central. If you're looking for a partner who can analyze your needs and help you determine the best ERP for you,  we're here to help.

Check out our company's Center Of Excellence and if you have any questions please contact us at [email protected].

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By Great Innovus

ERP software vs accounting software: Key differences & improve your business efficiency with the right software

September 1, 2022 | Digital Transformation, Microsoft Dynamic 365, Technology, Trends | No Comments

There are many differences between ERP systems and standalone accounting software. However, despite these differences, there are still misconceptions that lead many to use the terms interchangeably. This is the first step in deciding on management software.

While there is some overlap, the main difference is the number of features provided by each solution. Accounting software provides financial control for your business through accounts payable, accounts receivable, general ledger with reporting, and payroll. ERP software provides several modules that include the accounting functions mentioned above, as well as applications such as supply chain management, inventory management, human resource management, and e-commerce.

Accounting software

Accounting software is more specific in features and types, Produce required financial reports such as Income and Balance Sheets including Accounts Receivable/Accounts, Journals and General Ledger. Due to this limited focus, accounting software cannot achieve the same level of integration as ERP accounting software.

ERP Software

Most ERP products offered today come with accounting software as an entry-level (office) package called an ERP accounting system. As your business grows and the need to automate more complex data recording and reporting processes increases, you can add process-specific components. This is how accounting software can become an ERP.

For example, a typical accounting package provides financial management, planning, and budgeting functions as a base package.

The same box can also be integrated into other business processes. Project and Supply Chain Management, Reporting and Analysis, and Human Resources Management.

Let’s take a closer look at the differences between accounting software and ERP:

As the world becomes more complex, lead times are getting shorter, customer expectations for product personalization are increasing, and more data is being managed than ever before, software support for the operational efficiency of core business processes is critical. will be Companies also need the right skills to meet the dynamic demands and challenges of their particular industry. The terms accounting software and her ERP software are erroneously used interchangeably. In fact, accounting and financial reporting software is a subset of ERP systems. It's important to understand the difference.

ERP vs Accounting Software

The basic difference between the two terms is that accounting software often helps to cover areas like banking; liabilities, accounts receivable; financial reporting and some basic sales records. However, ERP software also includes the basic functions of accounting as well as some additional functions for managing logistics demand, supply chain, warehousing, inventory, e-commerce and contact management. ERP can be better defined as a fully integrated tool with an end-to-end business solution.In other words, accounting functions are a subset of ERP software.

❖ While the best free accounting software manages business accounts or how your money flows, ERP is business software that helps you track inventory management, tangible and intangible assets, invoicing, order fulfillment, order costs, and more. In accounting, you deal with the general ledger, accounts receivable and payable, payroll, expenses, and more. But Enterprise Resource Planners (ERPs) help manage unaddressed issues in accounting. 

❖ ERP and accounting software generally differ significantly in software cost of ownership. While accounting software is generally inexpensive, accounting software is easily affordable for small businesses. Even for medium to large companies, the cost of implementing and maintaining an ERP can be very high. 

❖ Another key difference is the human effort required to manage the software. And accounting software can be managed entirely by small business owners. Maintaining an ERP system requires a team of professionals to keep it running. Even with ERP software, the learning curve is often steep.

 ❖ Accounting software has limited or basic inventory tracking and web-based add-ons. On the other hand, ERP systems are flexible enough to free users from the constraints of accounting software. It also allows you to improve the accuracy and customer service of
your business. At the same time, ERP can help you reduce warehousing costs, inventory write-offs and labor costs. 

❖ ERP can help you plan the resources needed by your business, such as the number of raw materials required for the production process, and can also help manage highly complex production lines, but accounting software lacks such capabilities. While both are
important to your business in their own way, ERP is more flexible than accounting software, allowing you to manage different tasks more easily. It all depends on your business needs and the size of your business

Key ERP benefits of implementing such software:

1. Centralized IT costs:

Unify IT costs and increase efficiency instead of spending resources on multiple systems.

2. Overall Visibility:

Gain complete visibility into all critical processes in your organization by making data easily accessible.

3. Plan ahead and report:

Using the same ERP suite across all departments means your organization has a unified reporting system for every process.

4. Full customization:

Many ERP vendors offer multiple applications that can be implemented together based on business needs. Improve efficiency.

6. Reduce IT and training costs, time and effort:

A properly implemented ERP can significantly reduce or eliminate repetitive manual processes.

7. Customer Service:

By centralizing and simplifying customer information, your sales team can focus on building and nurturing customer relationships instead of managing spreadsheets.

8. Data security and quality:

One of the foremost necessary benefits of ERP system is data security. After all, data is at the heart of each ERP concept. 

A single repository of information helps improve the accuracy, consistency and security of enterprise data. 

ERP allows for greater integration of business operations into a single system, including aspects of inventory and warehouse management, customer relationship management, supply chain, and more. All of these aspects are currently not possible with stand-alone accounting solutions. It's time to start looking for an all-in-one ERP solution

Why Microsoft Dynamics 365 Business Central is a perfect fit for ERP
for SMEs?

Dynamics 365 Business Central has important capabilities across various platforms. This comprehensive management solution integrates all aspects of enterprise management and implementation on one platform, seamlessly connecting mobile and desktop
devices.

Add-ons for Microsoft Dynamics 365 Business Central are now available to meet the specific needs of all types of companies and industries. It can be used in any operation, from production management to retail and service.

Microsoft Dynamics 365 is the perfect solution for small and medium businesses. The tools, functions, and features provided by the platform are intuitive and meet business needs. Small businesses get the perfect help to achieve their business goals.

If you're interested in learning more about the potential benefits an ERP system could bring to your business, feel free to contact us

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By Great Innovus

Empower your business financial management with MS Dynamics 365 Business Central

July 21, 2022 | Digital Transformation, Microsoft Dynamic 365 | No Comments

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.

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By karthiga s

4 reasons for SMBs to choose MS Dynamics 365 Business central for Supply chain

July 13, 2022 | Digital Transformation, Microsoft Dynamic 365, Service | No Comments

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.

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By karthiga s