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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

Why Dynamic 365 Business Central is the best alternative to Quickbooks

August 10, 2022 | Digital Transformation, Microsoft Dynamic 365 | No Comments

QuickBooks is the primary accounting software package for roughly 29 million small businesses. On the other hand, Dynamics 365 Business Central is a new type of accounting software that is rapidly gaining popularity. It's a cloud-based application and a great alternative to QuickBooks.

While Dynamics 365 Business Central is designed for small and medium businesses, QuickBooks is best for small business startups. However, each provides a comprehensive set of monetary and operational tools that square measure simple to use and accessible anyplace. 

Most small businesses start with QuickBooks and then migrate to Dynamic 365 Business Central as their needs increase and their business grows. So, is Dynamics 365 Business Central really the best alternative to QuickBooks?

Why consider switching from QuickBooks?

QuickBooks is excellent accounting software, but it has many limitations and cannot be customized to meet your specific business needs.

The best replacement for QuickBooks is Dynamics 365 Business Central. It's cloud-based, therefore you do not ought to install something on your laptop or portable computer. it'll be accessed from any place with an internet affiliation. you'll be able to customize the software to satisfy your specific business desires and needs.

The software gives you a unified view of your entire business. It has accounting, financial and point-of-sale system capabilities. As mentioned, you can also use it to manage customer relationships, track inventory and orders, and generate reports for your business.

Dynamics 365 Business Central vs. QuickBooks

 

Weaknesses of QUICKBOOKS:

– Accounting and Finance function only

– Limited reporting options

– weak audit trail

– Weak user roles

– Lower safety standards

– Businesses can quickly outperform Quickbooks

– Lowest business productivity due to independent platforms and databases

Strengths of BUSINESS CENTRAL:

– Complete ERP system

– Detailed and secure audit trail

– multi-language functionality

– Multiple currencies functionality

– user-friendly

– Cloud-based

– High data security

Capabilities between Business Central and Quickbooks

Feature capability Microsoft Dynamics 365 BC QuickBooks
Overall Functionality Very Good Good
Scalability / International Accounting Good Poor
Deployment SaaS Only. however, see business Central (on-premise) SaaS or On-Premises
Payroll Yes, Through the Apps Yes, As an Add-On
Integration Offers advanced opportunities Limited integration
Tenant Facility Offers No Provision
Reporting Very Good(web-based reporting) (Thirty party add-ons)
Security Roles & Auditing Good Poor

What is Dynamic 365 Business Central?

 

Dynamics 365 Business Central is a cloud-based business management software system that provides several features. His plans ensure more efficient business processes. As the business grows, Dynamics 365 Business can adapt to changes, giving organizations the flexibility to adjust requests to suit current business needs.

Dynamics 365 Business Central provides more than just financial needs:

★ Offer all-encompassing resources and workflows to connect all tasks in an organization,

★ integrate operations,

★ plan supply chains,

★ improve customer relationships, and

★ make decisions based on available data to accelerate development and increase revenue.

How does Dynamics 365 Business Central work?

 

The Dynamics 365 Business Central application is managed online by Microsoft and requires no software to be installed on the device. Here's how it works:

● Access a full suite of financial management tools to help businesses manage their cash flow and balance sheet.

● Use a single, integrated platform to keep up with customer relationships, including CRM and analytics, that provide insight into how customers interact with your business.

● Have full operational support from overhead to forecasted sales, workforce planning and inventory management.

 

So, is your company upgrading from QuickBooks? Consider Microsoft's Dynamics 365 Business Central software. At Great Innovus, you can always learn more from us. For more in-depth information, please 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 Great Innovus