Whether you are considering upgrading to Microsoft Dynamics 365 for Finance and Operations or just questioning the need for ERP (Enterprise Resource Planning) software, knowing the product benefits will help you to make a calculated decision. In this article, we will provide answers to the three most frequent questions our clients ask in the course of deciding in favor of Microsoft Dynamics 365 for Finance and Operations.
Just a little remark for those who are not yet regular users of Microsoft Dynamics products. Microsoft Dynamics is a unified ERP solution for SMBs and enterprises. It works in five major industries: manufacturing, distribution, retail, services, and the public sector. Its deep functionality helps to manage finances, staff performance, and operational processes within the company.
Microsoft Dynamics 365 for Finance and Operations (formerly known as Microsoft Dynamics AX) is the latest, cloud-based version of this platform. Compared with the previous versions of MS Dynamics AX, it has extended functionality, AI-based predictive options, and enhanced role-based UI. The main difference besides functionality is deep integration in Microsoft Cloud infrastructure and a new approach to upgrades. Let’s see why it may be useful for you.
Why Bother with ERP if I Already Have a CRM?
Terms such as CRM (Customer Relationship Management) and ERP are still subject to confusion for many SMBs. The major task of CRM is to manage company-client relations. It helps to attract leads, build positive long-term relations with customers, and, thus, increase sales.
ERP is much more complex software. It manages all business processes of the entire enterprise, including relations with clients, resource planning, logistics, analysis, cost reduction, etc. Thereby, it aims at both marketing and distribution. ERP consolidates the information provided by various sub-systems, like CRM, SCM (Supply Chain Management), HRM (Human Resource Management), and others.
CRM, though it may be used separately, becomes just one component of your ERP if you decide to implement it. And you get much more business opportunities with all data consolidated under the one ERP roof. Sounds lovely to have one unified solution instead of multiple software pieces, doesn’t it?
Why Microsoft Dynamics?
A small amount of research is enough to run into hundreds of positive reviews on Microsoft products. If we sum them all up, one can see that, though seemingly expensive, Microsoft Dynamics platforms are worth every penny. Microsoft cares about its reputation and invests heavily in the development of its products.
Businesses today welcome integrated systems that provide visibility and insight into every single activity within the organization. They are looking for visionary tools that help to predict the development of the company both now and in the future. At the same time, they seek ways to reduce costs and avoid extra software burden. Microsoft Dynamics meets all these demands, which makes it popular among many users. According to Infoclutch, Microsoft Dynamics 365 for Finance and Operations owns 62.7% of the total enterprise application market share.
All Microsoft solutions are highly flexible and compatible. It means you will not waste extra money and will not attract third parties for integration and customization, as it often happens with smaller providers.
Why Upgrade to Microsoft Dynamics 365 for Finance and Operations?
If you already use some older version of Microsoft Dynamics AX, you may question the need of upgrading to Microsoft Dynamics 365 for Finance and Operations. With Microsoft, the answer may seem tricky since all its products are of high quality and work well. We have compared Dynamics AX 2012 vs Dynamics 365 for Finance and Operations and made up the list of some benefits of MS Dynamics 365 for Finance and Operations that are most often mentioned by users.
1. Cost Reduction Due to Advanced Automation
It might seem rather cost- and time-consuming to migrate from your present version of Microsoft Dynamics AX to Microsoft Dynamics 365 for Finance and Operations (D365FO). But as a result, you save more than you invest. D365FO functionality helps to identify and clean up the redundant resources. It results in minimizing running costs and human resources optimization.
2. Better Associated Software Integration
With Microsoft Dynamics 365 for Finance and Operations, it is simpler to integrate and customize different modules and components of your business and productivity software, such as CRM, BI, different IoT applications, productivity tools, etc. As a result, you not only save on customization but also spend less on personnel re-training.
3. Openness to Every Possible Platform
The latest version of Microsoft Dynamics is optimized for multiple devices, platforms, and mobile apps. You will not face problems with installment and customization you might have faced previously. The cloud version makes Microsoft Dynamics 365 for Finance and Operations’ availability even higher.
4. Gradual Enhancement in the Course of Exploitation
Microsoft Dynamics 365 for Finance and Operations allows for periodic updates (every three months for the platform, and every six months for the application). You always use the latest technology without the need for continuous significant implementations.
5. Built-in Analytics
MS Dynamics 365 for Finance and Operation has a standard built-in analytics tool powered by Microsoft Power BI. This makes analyses and reports deeper and easier-to-produce and provides real-time visibility at any moment.
6. Cutting-edge AI Predictive Capabilities
Microsoft Dynamics 365 for Finance and Operations makes use of the latest Cortana and Azure machine learning achievements. Their state-of-the-art algorithms transform simple descriptive statistics you used before into a powerful tool for anticipating the most auspicious opportunities. You get answers proactively and benefit from revealing hidden trends.
7. Strengthened Data Privacy
Microsoft Dynamics 365 for Finance and Operations has built-in disaster recovery and 24-hour technical support. Microsoft Azure provides world-class cyber-security. You don’t pay extra for the protection of workloads and your data is well protected.
8. Cloud Benefits
Microsoft Dynamics 365 for Finance and Operations is hosted on Microsoft servers. For you, it means the reduction of costs on maintaining your own servers and hardware. Not to mention physical space you clear up (which can be reasonable). Cloud also adds elasticity for your business to scale and grow at its own pace.
9. New Manufacturing and Retail Functionality
This includes Cloud POS, omnichannel management, merchandising and catalog management options, rebates, royalties and trade allowance management, multi-site warehouse management, direct and indirect procurement, eProcurement, and vendor self-service portal.
10. Smooth Renewed User Interface
The new intuitive user interface is clear and user-friendly. With the personalized activity-based workspace, users can manage processes and assets in real-time. Similarity with Microsoft Office 365 makes you feel familiar with the service and reduces work stress. The platform is available in many languages and boasts country-specific functionality for more than 50 countries. It makes it perfect for international companies.
A bonus is that Microsoft Dynamics 365 for Finance and Operations is based on a monthly subscription model. So, you can easily anticipate your monthly operational costs, scale up or change functionality. You don’t feel hooked on expensive yearly license and never have to pay for the functions you don’t use.
Sounds Attractive? Then, Make Your Next Step in Switching to More Efficient ERP
We have discussed a few common benefits of Microsoft Dynamics 365 for Finance and Operations. Depending on the specificity of your business, you may find even more features of this ERP platform that will drive you to greater efficiency.
Are you interested? Have any questions? Contact us, and we will be glad to assist you with Microsoft Dynamics 365 customization and upgrades according to your business. i-Neti is a generally recognized Microsoft Dynamics consultant and we are ready to do our best in making our expertise useful for you.
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