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Microsoft Dynamics 365 Finance and Operations is a cloud-based ERP system focused on managing all finances and inventory, designed for large companies.

Why choose Dynamics 365 Finance and Operations?
Research leaders predict that the ERP market is expected to grow steadily as systems now focus less on on-premises solutions and more on cloud platforms, artificial intelligence (AI), and the Internet of Things. While the market share of ERP is undoubtedly on the rise, there is a lot of debate as to which ERP has the largest market share and is therefore the market leader. Some of the major players in cloud ERP solutions, such as Microsoft Dynamics 365 Finance and Operations, Epicor, SAP and Oracle, are going all out to win the competition for your business.

If you're new to using cloud-based ERP, here's how it can help your business

* Improve competitiveness
* Improve operational processes
* Participate in organizational activities
* Help manage resources efficiently

Dynamics 365 Finance and Operations (F&O)
Microsoft Dynamics 365 Finance and Operations is a cloud-based ERP system focused on managing all finances and inventory, designed for large companies. It's a complete set of visionary tools that provide complete transparency and insight into your business. Since its release in 2016, Dynamics 365 for Finance & Operations has continued to evolve alongside the entire suite of Dynamics 365 applications.

Dynamics 365 Finance and Operations comes with two different license options:

* Dynamics 365 Finance (for budgeting, finance, accounting and project management)
* Dynamics 365 supply chain management (for design, manufacturing, warehousing and distribution)

Licensing options can help you select and set user access rights based on business processes. It can give you a competitive edge with a modern ERP with a new user interface, new features and integrations. No matter what industry you're in, Microsoft Dynamics 365 Finance and Operations is one of the best solutions your business could possibly need.

As a major competitor in the ERP market, Dynamics 365 for Finance & Operations promises to reduce costs and simplify setup. In addition, it connects seamlessly with a variety of other Microsoft business applications. One of the main benefits of Dynamics 365 is also user training.While every ERP system requires training, Dynamics 365 for F&O has a relatively short learning curve. It has some of the best features to manage your account and works like a dream. According to Forrester, organizations that create a data-driven culture have seen a three-year ROI of 366 percent in Microsoft business intelligence.

Dynamics 365 Finance and Operations at the forefront of the growing ERP market:
Microsoft's Dynamics 365 for Finance and Operations product leads the 2020 ERP Technology Value Matrix. No matter the industry, Microsoft Dynamics 365 provides financial, manufacturing, logistics, supply chain, and regulatory compliance capabilities.

However, the future trends of ERP systems play a unique role in today's growing market trends and demands. Relentless development efforts and significant investments in the Dynamics 365 application suite, including blockbuster acquisitions, have made Microsoft a leading provider of cloud applications.

Microsoft Dynamics 365 was released in a short time and climbed the market share rankings, quickly surpassing Salesforce and Oracle. This certainly makes it clear that future Microsoft Dynamics 365 projects will include more intelligence and cognitive services, proactive use of data to transform your business, and digitally future-proof your business.

How can Dynamics 365 Finance and Operations help your business?
Microsoft Dynamics 365 supports the digital transformation of many companies and industries. Here are some key advantages that prove that Microsoft Dynamics 365 definitely has a competitive advantage over other ERPs on the market.

Financial and Operational Benefits of D365

Reduce costs: It combines your company's expenses and IT perks to create an intelligent cost management program.

Flexibility: Dynamics 365 Finance and Operations applications give you complete freedom to customize and develop on any platform.

Deep-rooted integrations: Dynamics 365 provides deep-rooted CRM, BI, and other third-party integrations to keep your entire organization in sync.

Built-in analytics: Dynamics 365 has built-in analytics mechanisms to help you make better decisions faster.

Azure AI: The availability of intelligent Azure AI provides accurate predictions, tells you what's likely to happen, and provides predictions and recommendations.

Use Dynamics 365 Finance and Operations for your business!
Dynamics 365 F&O has much more than what we reviewed today. If you're evaluating ERP for your company, Dynamics 365 F&O should be at the top of your list. With its advanced features and wide range of benefits, it may be the best decision you can make to help your business succeed.

Great Innovus helps you identify, analyze and figure out the right strategy for a successful implementation of Dynamics 365 Finance and Operations.

Our Microsoft-certified experts can help you learn more about what's possible with Dynamics 365 Finance and Operations and help you identify the right strategy for success. Schedule a call with our experts today!

Power of Digital Transformation (DX) in Manufacturing Industry

Industry 4.0 has been a game-changer in the manufacturing space. It has brought innovative business solutions by integrating improved technologies like cloud computing, artificial intelligence (AI), and the Internet of Things (IoT). Smart factories are built by deploying smart machines that make informed decisions to increase efficiency across the value chain. With the help of the Industrial Internet of Things (IIoT), manufacturers are blending in data from factory floors to achieve visibility in the process. They are rapidly switching assets from manual to automatic to reduce equipment downtime.

The rise of advanced sensors, no-code machine learning (ML) platforms, embedded software, and robotics has been a blessing for small and medium-sized businesses. Manufacturers can break down previously siloed informational data by consolidating data from production operations and operational data from ERP and enterprise systems to achieve transparency. This helps manufacturers gradually change the industry by avoiding colossal expenditure.

What is Digital Transformation in the manufacturing industry?

In the digital transformation across industries, there is no single silver bullet to race ahead of the competition. It is the strategic integration of digital technologies across businesses to have an efficient and effective impact on our daily lives.

Digital transformation in the manufacturing industry is a wholesome combination of:

  • Replacing legacy systems or obsolete assets.
  • Combining traditional manufacturing equipment with modern systems.
  • Improving flexibility and delivering real-time solutions.

The pandemic played a significant role in the playbook of manufacturers. Although it derailed production, distribution, and supply chain activities, it presented new opportunities for the manufacturing industry to explore. IDC's report stated, “There will be an influx in investment in digital transformation by 2024″. Digital transformation possesses the power to reduce workload, boost production, deliver consistent quality and enhance customer experience. It gives significant benefits to the manufacturers by improving bottleneck functions.

Bottleneck functionalities predict failures and prescribe AI-driven remedies like interpreting data to alleviate issues. Also, an advanced quality management system helps the digital journey for organizations much more manageable. It reduces operational error and solves problems faster. It also helps to cut down on specified inspectors by automating the processes. With advanced technologies and an intuitively built platform, digital transformation promises to disrupt the manufacturing segment.

What are the challenges in the manufacturing industry

Adopting digital solutions brings many benefits to the industry in terms of higher ROI and improved customer experience. Along with the digital game, it presents fundamental challenges to implementing advanced technologies. Let's look at some top challenges manufacturing companies face that hinder digital transformation.

Challenges in manufacturing industry - Digital Transformation

Digital transformation is done across each business process, from the front desk to factory floors. If the manufacturing company is not highly invested in its own company, implementing new technology in a project will eventually fall off. So, it is highly imperative to have organizational alignment within the company as it will help in the success of long-term projects, and proper evaluation will help to realize organizational gaps.

The bandwidth to engage with higher financial investment might not be an issue for larger enterprises. But small and mid-size manufacturers require meticulous budget planning before implementing digital solutions. It is imperative to lay out a financial guide addressing the bigger picture of project ROI. Without structured financial planning, there is a high risk of the project becoming a failed investment.

Advanced technologies bring benefits like improving data analysis transparency, reducing operational downtime, and enhancing efficiency. But these benefits must be carefully introduced to retain and gain customers by investing wisely.

When it comes to digital skill challenges in the manufacturing industry, it is faced with two types of hindrances, i.e., acquiring the right talent and providing training to the existing employees. Although both are expensive, considering the opportunity cost and the benefits of digital solutions providers, bridging the digital gap is a must.

Manufacturing leaders must address this issue by partnering with third-party service providers to help train factory floor operators and managers. And hire the right set of skilled employees for the required project.

Digital technology is pacing at a higher speed, and organizations working with legacy systems are falling behind the organizations that are fast at digital adoption. When technologies grow old and outdated due to changes in customer preferences or the launch of new technologies, it becomes highly challenging to make the existing one compatible or let of existing employees.

The challenge can be combatted in two ways: retraining the existing employees and hiring a fresh batch of skilled employees, and carefully testing and integrating modern technologies in a completely digitized environment.

For example, ERP systems like Microsoft Dynamics 365 Business Central connect all systems across the organization and drive efficiency. It is essential to have a discussion to gauge the benefits of these technologies as it will help to draw a clear picture of whether traditional assets are more beneficial than digital solutions.

What are the benefits in the manufacturing industry

For transitioning from a traditional manufacturing organization to a smart factory, the initial cost amount and a well-planned strategy might be a stumbling block on your digital embarking journey. But we are here to tell you the significant benefits you can access when you have covered the challenges mentioned above.

Benefits in manufacturing industry

By introducing new technologies, manufacturers have prevented late deliveries and error-prone solutions. The technologies help to solve untimely production issues and adjust supply quantities accordingly. For example, an ERP solution can leverage your supply chain issues and enhance decision-making capabilities.

Digital adoption in case of customer satisfaction takes care of the availability of customized production. With the help of software solutions, manufacturers can forecast customer requirements based on region, demand cycle, and feedback. It also gives a window to have a different eCommerce platform which adds more value to the customer.

Manufacturing assets' operational value is beneficial when automated and optimized workflow. Real-time solutions like ERP, CRM, and intelligent logistics also help manufacturers manage their data efficiently.

Digitizing inventory reduces operational overhead and increases the efficiency of the workforce. Resources can be better utilized in a more productive form of work, reducing expenses and getting over mundane work progress.

What is Digital transformation with ERP

In a digital transformation landscape, a manufacturing organization must have an ERP system in its operations. A study by Gartner stated that 30% of organizations like manufacturing enterprises would deploy ERP business capabilities. Implementing an ERP system in a manufacturing process allows an organization to avail of benefits that come with Industry 4.0, including AI, cloud computing, ML, and robotic process automation (RPA). It helps manufacturers stay agile and quickly bounce back from potential risks and adversities.

For example, Microsoft Dynamics 365 Business Central ERP is flexible and adaptable to a dynamic technological environment. Its real-time solutions for inventory data and cloud-based functionalities act as a digital backbone for manufacturers. It is the steppingstone as a digital platform that allows manufacturers to streamline warehouse processes and control various supply chain activities.

The added benefits of adding ERP solutions to your manufacturing business are:

  • ERP system speeds up productivity by simulating machinery and optimizing warehouse processes. It not only has the capabilities to boost plant floor strategies but also improves workflow.
  • Disparate systems slow down managing processes, and data cannot be better utilized, so an intelligent ERP provides real-time access to business processes and KPIs. It allows easy data integration and flows within departments, resulting in better collaboration and communication.

In essence, it is a single source of truth for manufacturers by combining digital technologies and having a granular view of production cycles. So, ERP is the best ally of a manufacturer who aims to minimize costs, speed up the process of semi-finished goods, and have a good investment ROI.

How to embark on your digital transformation journey now

Digital transformation has cornered the traditional manufacturing industry. Deploying growing technologies has sped the industrial companies' progress through thorough engineering. It has connected IT with mechanical and electrical machinery and is changing the landscape.

We at Great Innovus will help you visualize your organization's digital roadmap and assist you in your journey towards it. Our skilled professionals will address any complex business solution and transform your vision into reality. We will guide you in advancing your evolution and assist you in automating solutions for a better future.

Let's get started here.