Dynamics 365 for Finance & Operations: The Next-Gen ERP

8 Jan 2020

Whether you’re already using an ERP system or looking for one, you must have heard of Dynamics 365 in the ERP market. Dynamics 365 for Finance and Operations (formerly known as Dynamics AX) is Microsoft’s flagship Enterprise Resource Planning suite for medium to large organizations. It delivers enterprise ERP capabilities within a single application, both on-premise and on the cloud.

Enterprise edition is a cloud-based business application that lets you optimize business processes on your terms. With D365 F&O, you can seamlessly connect financials, supply chain, sales & purchase orders, inventory, production, and distribution processes all in one single application.

D365  in Finance and Operations makes ordering, selling, invoicing, reporting easier and faster. The application combines your multiple disconnected systems into one and helps boost business efficiency with automated workflows and tasks. D365 is designed to be a cloud-first platform and if your business is operating in the cloud or you’re looking at migrating to the cloud solutions, then Microsoft Dynamics 365  is the best bet to win in the operations and finance field.

Capabilities of D365 Finance and Operations:

• Helps you elevate financial performance
• Helps you close accounts & books faster
• Helps you generate detailed reports
• Strategic monitoring to help you increase profitability
• End-to-end integration of Microsoft Business Applications to deliver higher efficiency
• Helps you in turning data from financial and business operations into accurate actionable insights
• Helps you satisfy customer demands by driving faster innovation and continuous improvement

Why Does Dynamics 365 for Finance & Operations Stand Out?

Every ERP System includes fundamental functionalities and modules such as Budgeting, General Ledger, Accounts Receivable, Accounts Payable, Inventory Control, etc. but Dynamics 365 stands out among all the ERP systems because of its advanced features and capabilities in finance and operations that not every ERP system offers.

1. Financial Management

With Dynamics 365 Finance and Operations, financial management becomes exciting and easy. This powerful solution offers fast currency translation, efficient financial transaction registration, streamlined parent-subsidiary relationship management, comprehensive internal cost accounting, and valuable financial insights. Benefit from the diverse feature areas included in D365 Finance & Operations:

• Accounts receivable
• Accounts payable
• Expense management
• Budgeting
• Cost accounting
• Cash and bank management
• Financial reporting
• Project management
• And more feature areas

2. Warehousing

The dynamics 365 modules for Warehouse Management are fully integrated with D365O. With Dynamics 365, you can automate the warehousing process to significantly reduce operational costs. As a COO, you can let your warehouse manager better control picking operations, put-away, and quality-control and help them respond to instant business needs. Connected Warehousing operations allow you to:

• Accelerate new product introductions
• Offer delivery flexibilities
• Simplify production floor management

3. Transportation

For retail, distribution, and distribution companies, Dynamics 365 is the best SaaS solution. You can easily get transportation global planning and freight conciliation on the platform. D365 is the best way to provide the right customer experience at the right price. Track and monitor the product transit and move products smoothly from procurement to sale.

4. Sales

The best part about Dynamics 365 Finance and Operations that keeps customers coming back is the provision of immediate, personalized customer service. It equips your sales team with comprehensive customer information, enabling them to deliver exceptional, tailored service across multiple channels such as social media, stores, mobile sites, and other touchpoints. For e-commerce businesses, it also facilitates outstanding shopping experiences through integrated eCommerce and social media capabilities.

5. Manufacturing

 Microsoft Dynamics 365 is designed for ease of adoption and implementation. D365 F&O delivers business insights across all levels of the organization to improve quality, support innovation, and enhance customer satisfaction. With D365 you can integrate existing systems, lower total costs of ownership, and future-proof investments through continuous innovation and delivery. The key capabilities under the manufacturing module are:

• Material and capacity planning
• Production scheduling and sequencing
• Shop floor control

6. Supply Chain Management

Dynamics 365 for Finance and Operations is the best solution that helps you connect sales and purchasing processes with production, warehouse management, and logistics. With D365 you can seamlessly achieve visibility and entire supply chain management. The key capabilities under the Supply Chain module are:

• Vendor collaboration
• Inventory Management
• Multi-site warehouse management
• Demand forecasting
• Tracking and tracing

7. Cloud Services

D365 Finance and Operations services is an enterprise edition fully Microsoft-managed cloud service to help you enable fast business transformation. It provides your organization with ERP functionalities that support your unique business requirements; you get real-time information on almost any device. Dynamics 365’s cloud ERP is showing a higher adoption rate due to the advantages like shorter implementation time, better integration with other solutions, regular and continuous updates. The below are the D365 cloud services capabilities:

• Manage application lifecycle of your D365 F&O implementations using Lifecycle Services
• Rapid and flexible deployment options
• More accessible web and mobile apps

8. Go Mobile

Don’t we like to stay connected & deliver tasks while on the go? D365 mobile apps are designed just for that. You can mobilize work processes, stay connected with work and also empower employees to work anytime from anywhere on mobiles to keep customers happy, drive productivity and increase business profitability.

Conclusion

With increasing customer demand for faster response times, companies need higher agility, flexibility, and continuous innovation. Companies today are realizing the need for hybrid and cloud-based business solutions and thus are moving to Microsoft Dynamics 365.

Want to be a future-proof business?  Talk to Star Knowledge’s expert Dynamics 365 consultants to implement the intelligent Finance and Operations solutions today. Ready when you’re!