Widely known among successful businesses, Microsoft Dynamics 365 Finance and Operations (D365FO, formerly Dynamics AX), offers extensive company management capabilities. Despite the fact that in 2019, D365FO was split into two separate applications: Finance and Supply Chain Management, it still represents a single solution fully compatible with the other Microsoft Azure and 365 family solutions. Modules of D365FO can ensure end-to-end automation, forecasting, and risk reduction for your business processes.
Options for Deploying the Dynamics 365 Finance and Operations Modules
Applications from the Dynamics 365 Finance and Operations module list can be deployed in a variety of enterprise environments, which allows for instant adaptation to ever-changing corporate needs. Let’s find out what the benefits of each specific deployment option are for entrepreneurs.
Enterprises that need enhanced safety for their data can deploy Microsoft 365 Finance Modules to their on-premise infrastructure. Thus, no data is transmitted outside the local network, ensuring maximum security.
Edge computing is a form of cloud computing that, unlike more traditional architectures that centralize computing and data storage, transfers computing processes to peripheral devices. Thus, only the results of processing are transferred over the global network. The modular structure of Microsoft’s Enterprise Resource Planning (ERP) in this deployment format operates very efficiently, even providing the necessary computing power for systems with much lower bandwidth consumption.
The cloud-based deployment of Dynamics 365 Finance and Operations modules provides enhanced network resiliency and virtually infinite scalability based on the Microsoft Azure cloud platform. Additionally, this option allows maximum automation of all processes within a homogeneous environment.
Central Elements of Microsoft Dynamics 365
Currently, there are four major categories of D365 Finance and Operations modules each containing its own list of applications – Commerce, Finance, Supply Chain Management, Human Resources.
Here are the most popular modules (the complete list is much more extensive):
- Accounts payable;
- Accounts receivable;
- Financial management;
- Cash and bank management;
- Cost accounting;
- Regional regulatory features;
- Project management and accounting;
- Asset management;
- Inventory management;
- Warehouse management;
- Human resources management;
- Cost management;
- Master planning;
- Procurement and sourcing;
- Lean manufacturing;
- Process manufacturing;
- Discrete manufacturing;
- Project manufacturing;
- Sales orders;
- Sales agreements;
- Sales quotations;
- Sales and marketing tasks.
Let’s review the four-module categories in more detail.
Dynamics component is integrated with AI algorithms on a profound level.
The main operations tasks it helps with are:
- Optimization of financial management. Through these modules, you can receive regular reports on the profits and expenses of your company, control cash flows, and forecast the inflow and outflow of funds;
- Automation of financial management. End-to-end automation of processes related to financial management aids in making informed and quick decisions. The synergy of artificial intelligence and powerful forecasting tools allows you to prioritize current tasks appropriately and save time by minimizing the number of manual operations;
- Lowering costs. Automation allows you to achieve a reduction in the total number of working hours employees have to spend supporting financial management. This allows your business to continue operating successfully with a more compact staff;
- Minimization of risks. By decreasing the number of routine tasks for your staff, you can significantly reduce the risks associated with the human factor (carelessness, untimely delivery of data to other departments, etc.).
2. Supply Chain Management
Supply Chain Management is a suite of intelligent logistics management apps. Based on artificial intelligence and easily integrated with third-party IoT solutions, these modules will help you achieve maximum productivity in a short span of time when planning operations with numerous partners and customers.
Key features of Dynamics 365 Supply Chain Management modules include:
- Reduced downtime and risks are attributable to the human factor. Due to the automation and optimization of interaction with partners, you will be able to exponentially reduce costs for the implementation of supply chains;
- Powerful capability of asset management: planning of maintenance and cost of ownership transparency;
- Advanced inventory management. Streamline the management of stored goods by aligning them with current logistics processes;
- Forecasting. Use the data from IoT sensors to predict possible downtimes, immediately detect failures or suddenly declining employee productivity, etc.
Modules from this category are designed to increase the controllability and visibility of trading operations via traditional retail, web-malls and connected commerce platforms. They allow you to ensure:
- Multichannel interaction with partners and customers. Allow your partners and customers to contact your employees using any of the existing communication channels;
- Improved service quality and personalization. Using the analytical data supplied by machine learning algorithms, you can improve the quality of service for each specific customer, as well as create highly personalized loyalty programs;
- Standards compliance. Following the accepted industry standards means you can focus on only utilizing the best possible practices. Build upon the standards of your industry.
4. Human Resources
Lastly, yet also of great importance are the modules pertaining to Human Resources.
The benefits that enterprises get from employing these modules are:
- Quick recruitment. In lieu of manually searching for potential applicants, HR employees have the opportunity to use automated search tools with a wide range of parameters;
- Simplification of personnel management operations. This component will help you cope with the tasks of payroll, vacation planning, attendance monitoring, etc. It is worth noting that this is implemented taking into consideration the existing labor legislation of your particular country;
- Fast adaptation to labor market trends. You can track the shifting trends of the personnel market, instantaneously reacting to all changes;
- Real-time analytics. To make Human Resources’ decisions as balanced and informed as possible, you can use the rich set of prognostic and analytical tools present in MS 365 Human Resources.
Which of the Dynamics 365 Finance and Operations Modules Would be the Most Useful for the Current Quarantine Situation?
Unprecedented in its course and consequences, the COVID-19 pandemic has created significant obstacles to the usual methods of doing business, promoting work in the remote format. Microsoft Dynamics 365 has modules that, especially in present-day times, will be suitable (because they help maximize the automation of processes previously performed by actual employees. Here are some of them:
- Modules that help to optimize logistics processes: shipments, loads, inbound and outbound logistics, containerization and palletization, etc.
- Warehouse management module;
- Modules, responsible for optimizing sales: sales (and returns) orders, agreements, and quotations, as well as other sales and marketing tasks.
Introduce Microsoft 365 Finance Modules into Your Business to Maximize Profits
If you want to control your business efficiently, then it is necessary to use the most modern and technologically-advanced solution which contains elements of automation and forecasting. In case you require customization of your MS Dynamics 365 Finance system, don’t hesitate to contact us right now. We will help you in selecting the best set of components for your business’s development and resource management.