Enterprise resource planning or ERP (Enterprise Resource Planning) systems play a vital role in effectively performing everyday business operations. ERPs have a far-reaching impact on people and processes across a different company. Evaluating ERP systems can be an overwhelming process and requires thorough research and understanding into the factors that make a particular ERP system the ideal choice for a business. Today, we evaluate at length the contributing factors that make Microsoft Dynamics 365 a cut above other ERP system. We also highlight the benefits businesses can leverage from implementing Microsoft Dynamics 365 ERP.
Let’s begin with a quick introduction to enterprise resource planning (ERP) software.
Introduction
An ERP is an integrated management software that helps businesses accurately and effectively interpret and manage supply chain, finance, project management, manufacturing, and other everyday business processes. Manufacturing companies are the no. 1 users of the ERP software.
The ERP market is rapidly expanding, with the total market size expected to exceed $49.5 billion (about $150 per person in the US) by 2025. Companies must have a sharp vision of business and new system requirements to align across all organizational processes to successfully execute the implementation of ERP. When companies choose the right vendor with the right internal implementation team, it increases the chances of achieving project success. ERP implementations are challenging, data and statistics show many companies effectively implementing and even surpassing implementation efficiency expectations.
An ERP system helps businesses keep track of their core activities and reduce operational and administrative costs. It is no wonder more businesses are implementing the ERP system with a plethora of benefits it delivers to organizations. Furthermore, an ERP system has become the obvious choice for most businesses to streamline and automate their business activities. More importantly, it helps businesses expand and scale without incurring hefty staffing or IT costs.
Microsoft Dynamics 365 is one of the numerous ERP software you can find in the market. However, Dynamics 365 delivers all functionalities most ERP systems offer, but better. Though the tough competition in the market makes choosing the right one a difficult call to make if you carefully factor in the aspects that would make an ERP system most suitable for your business, you should achieve a successful ERP implementation.
What makes Microsoft Dynamics 365 different?
Microsoft Dynamics 365 is cloud-based, except for the CRM (Customer Relationship Management) application. All the Microsoft Dynamics products are required to run on a client’s server, or on the server of the Microsoft partner who has hosted the system for the client. However, Microsoft Dynamics 365 is hosted by the cloud service of Microsoft Azure. It implies that the client gets access to all system features from wherever they are and anytime they want.
Furthermore, Microsoft Dynamics 365 is fully integrated. It seamlessly integrates and connects the ERP system with the CRM application. Earlier, companies had to individually implement the CRM and ERP systems. Eventually, it resulted in greater inconvenience and data silos. However, Microsoft Dynamics 365 solves both problems and more
What factors contribute to Microsoft Dynamics 365’s excellence?
Listed below are the primary factors that make Microsoft Dynamics 365 better than other ERPs:
User experience
Microsoft Dynamics 365 ERP quickly built its reputation as a user-friendly software in the market. Software Reviews by the Info-Tech Research Group ranked Microsoft Dynamics 365 number one in ‘usability and intuitiveness’ for Vendor Capability Satisfaction in their 2020 Enterprise Resource Planning Data Quadrant Report.
Mobile-friendly
Microsoft Dynamics 365 offers several different mobile apps for various departments of the software, including HR to Finance, Retail, Warehouse, Manufacturing, and more. Furthermore, Microsoft wants to ensure its customers can use the software anytime and anywhere, regardless of the device they are using. Microsoft Dynamics 365 extends ease of use of the software across mobile devices by making it more intuitive, dynamic, and scalable.
Personalization
With the implementation of Microsoft Dynamics 365, you get an interactive dashboard, including organized compilation of view lists, web resources, charts, iFrames, and other insights. Furthermore, you also get a personalized workplace that enables quick user adoption, in addition to the dashboard.
Functionality
The same 2020 Enterprise Resource Planning Data Quadrant Report also ranked Microsoft Dynamics 365 Finance & Operations first in the ‘Breadth of Features’ category. It implies that the ERP product from Microsoft is packed with features for modern-day businesses, allowing companies to efficiently perform varied processes.
Ease of use
Ease of use is more than just how easy it is to use the software. Apart from the ease of usability of the software, you should also consider the ease of integration into the daily workflow and how smoothly it integrates with other tools in your systems. Microsoft Dynamics 365 offers multitude of features aimed towards customization, flexibility, and scalability. Furthermore, you also get support for multiple languages and currencies and the web-based user interface makes accessing it much easier.
Scalability
The building blocks of Microsoft Dynamics 365, modules, can easily communicate with each other on a single platform. Eventually, it has brought the ERP and CRM applications closer than ever. You can purchase any of the applications with flexible licensing options. Furthermore, you don’t have to worry about scalability issues in the future. More importantly, Microsoft has made the flow of data across Dynamics 365 more seamless with the introduction of the Common Data Service.
Return on investment
With advanced features, flexibility to adapt, agility, data security, cost-effectiveness, the return on investment you earn through integrating different functionalities will be worth the investment. Furthermore, ERP implementation has led business to achieve process improvement for 95% of business activities. The total cost of ownership is a crucial element that can help you understand why Microsoft Dynamics 365 should be your preferred ERP software.
Cost and pricing
The total cost of ownership is the total amount you spend on the implementation and operations of the ERP software. The features available in Microsoft Dynamics 365 are optional. Thus, companies can opt out of features they no longer require. Furthermore, it is available in multiple payment plans or you can also request a quote. You also don’t have to worry about investing in new tools, with the availability of a broad range of tools.
Integration and implementation
You should always review how well the ERP software you are choosing integrates with the current software, third party applications, and current databases. You should take a collaborative approach to integration and implementation for maximum results. You can seamlessly integrate Microsoft Dynamics 365 with other Microsoft products. Furthermore, it eliminates the need to integrate with third-party apps owing to the flexible features.
Customer support
In the ‘Business Value Created’ category, Software Reviews also named Microsoft Dynamics 365 as the top ERP solution in the same 2020 Enterprise Resource Planning Data Quadrant Report. It means that Microsoft has created exceptionally cost-effective software that goes above and beyond in meeting customer requirements and preferences.
Microsoft Dynamics offers round-the-clock customer support through multiple channels for all queries. Customer support includes a dedicated training session for all modules and online live support online in addition to support over the phone. However, you would not get any support via emails. If these do not solve your problems, you can always ask your implementation partner to cover the training requirements.
Benefits of Microsoft Dynamics 365
Microsoft Dynamics 365 ERP system enables businesses to automate day-to-day business activities, manage resources and customer requirements by updating and tracking data in real-time. After ERP implementation, 49% of companies said they improved all business processes, while a 2020 report found that 93% of companies report their ERP projects as successful.
Apart from the benefits listed above, Microsoft Dynamics 365 – ERP – helps businesses speed up the operational impact, ensures business agility, and more. Let’s look at some of the other prominent benefits of implementing Microsoft Dynamics 365 – ERP.
Improved efficiency
You can significantly reduce the time and effort your team must put in to carry out everyday business activities. Furthermore, when implemented successfully, the ERP software can eliminate routine tasks and manual processes and errors associated with the same. You also get access to all information and data on a single platform, instead of accessing ERP, CRM, data, and Office applications, separately.
Simplified business operations
Microsoft Dynamics 365 ERP is easy to use and manage. It helps accelerate business operations. Furthermore, it also enables you to effortlessly scale your business requirements. It’s flexible and easily customizable. More importantly, Microsoft Dynamics 365 brings a suite of solutions with future-ready features and improved functionalities to their enterprise solutions with an extended focus on performance.
Agility and performance
Microsoft Dynamics 365 ERP is built to readily adapt to the changing demands of your customers and the growing needs of your business. Furthermore, it helps you proactively prepare for any operational disturbances or market fluctuations. More importantly, you can leverage the predictive functionalities of integrated analytics. Eventually, it would help you formulate strategies and make more informed decisions to ensure optimal performance. Predictive analytics and deep learning has been listed as the most crucial ERP technologies to gain a competitive advantage.
Better customer support
Microsoft Dynamics 365 enables you to streamline business processes, align customer demand with supply, and get access to information that helps you improve customer support and their overall user experience. Almost 75% of CIOs say they are leveraging the ERP system to engage customers in real time.
Enhanced business reporting
Your business gets a unified reporting system for all processes. The ERP system gives your business the ability to compare and analyze operations across different departments. Microsoft Dynamics 365 saves you the hassle of managing and tracking different operations individually.
Data security
One of the biggest benefits of implementing Microsoft Dynamics 365 is that you get high end data security. Since you are already relying on a single platform to track, record, maintain, and store all your business-related data, it is only natural for the ERP system to ensure data security. Furthermore, cloud-based ERP systems deliver a higher degree of security and provide constant backups to ensure your data is safe.
Lower IT costs
Although investing in ERP software can prove to be a huge one-time large investment, it can help you merge your IT costs. Eventually, it helps you save money. Though you would still have to spend a significant amount of money on successfully implementing the ERP software, you can use a single ERP system to lower the overall cost, instead of emptying your business coffers on multiple systems that requires different infrastructure, staff, and licenses.
Ease of use
You can use Microsoft Dynamics 365 in the cloud or in an on-premise environment. It is easy to use, and you can customize the ERP solution based on your business requirements. Furthermore, Microsoft Dynamics 365 perfectly integrates with other Microsoft products. As a result, it delivers ease of use, convenience, and flexibility to move from one app to another. Furthermore, Microsoft gives you the freedom to access Dynamics 365 from Outlook, a web browser, or a mobile device.
Seamless integration
When you implement Microsoft Dynamics 365 – ERP, it helps you gain data connectivity not only within the ERP system but also with other productivity tools. Furthermore, it seamlessly integrates with all programs, eventually increasing productivity.
AI-powered enterprise solutions
Artificial Intelligence (AI) has become the preferred choice for businesses to implement several functions, ranging from sales to marketing, reporting to analytics, and more. Dynamics 365 – ERP employs the AI functionalities of Microsoft to help you transform multiple aspects of your business, including sales, finance, customer service, and other activities. According to a Gartner report, 65% of CIOs predict that artificial intelligence (AI) will be integrated into ERP systems by 2022.
Microsoft Dynamics 365 is fully capable of supporting your business requirements with an extensive range of features available across different business departments. A plethora of features available at competitive prices!