Microsoft brings Dynamics 365 for Finance & Operation, specially designed to help enterprise-level businesses streamline their financial and operational processes. The financial software runs on the same code as Dynamics AX. Furthermore, it is suited for more complex business requirements, manufacturing, and global financial management. It’s a robust financial solution with advanced functionalities.
With Microsoft, you also get the freedom to customize the software and choose the modules depending on your business requirements. You can deploy Microsoft Dynamics 365 for Finance and Operation either on cloud or on-premise. Furthermore, Microsoft licenses Dynamics 365 for Finance and Operations as two distinct applications – Dynamics 365 Supply Chain Management and Dynamics 365 Finance. Dynamics 365 Supply Chain Management incorporates manufacturing, engineering, warehousing, and distribution. On the other hand, Dynamics 365 Finance comprises project management, financials, budgeting, and accounting for enterprise-level companies.
Microsoft Dynamics 365 (Finance and Operations) helps your business manage sales, manufacturing, customer relations, project management, and more. Moreover, the Enterprise Edition of Dynamics 365 F&O boasts built-in smart features and functionalities. Lastly, you can easily integrate it with Microsoft Office 365 and a CRM solution, ensuring efficiency across all operations. Let’s explore more about Microsoft Dynamics 365 for Finance & Operations.
Microsoft Dynamics 365 Finance & Operations functionalities
Microsoft Dynamics 365 Finance & Operations comes with advanced functionalities that help your business streamline business operations across all departments, and not just finance. Listed below are such future-ready functionalities that help your business stay ahead in the competition.
- Microsoft Dynamics 365 F&O helps your business develop a single platform and manage multiple processes. The software ensures you maintain a consistent delivery of products and supply chain with enhanced warehouse management.
- Microsoft Dynamics 365 F&O is a cloud-based software. However, it’s not just limited to cloud. It works effortlessly on-premise.
- Moreover, it’s a great enterprise resource planning (ERP) software equipped with artificial intelligence and modern-day machine learning. It helps you improve cash flow and advance financial management practices.
- Microsoft Dynamics 365 F&O can help you improve financial management and increase revenue with its proactive guidance and predictive recommendations.
- You can easily detect financial errors, remedy those errors, and even prevent them by analyzing system performance through Dynamics 365 Finance & Operations.
- It offers end-to-end app management support and has an intuitive, browser-based user interface that allows you to make quick and accurate decisions.
- Microsoft Dynamics 365 F&O integrates logistics, enabling you to reduce operational costs. Furthermore, it uses order-to-cash and procure-to-pay methods to streamline transactions.
- Lastly, Microsoft Dynamics 365 F&O enables you to customize the platform depending on your business requirements. It doesn’t keep you stuck at the same software when your business scales.
Reasons to choose Microsoft Dynamics 365 Finance & Operations
Listed below are the primary reasons why Microsoft Dynamics 365 for Finance and Operations should be your first and only choice in financial management software.
Deeper insights for better decisions
You always need access to the best information to make the best decisions. Microsoft Dynamics 365 Finance & Operations leverages artificial intelligence, predictive analytics learning, and Power BI to deliver comprehensive reports and deep and visible insights. It means you can plan and strategies for future endeavors with accuracy.
Easier reporting
Reporting is one of the most time-consuming and challenging processes for most businesses. Furthermore, the barriers to reporting increase when you are cross-referencing data from multiple sources, applications, and departments. However, Microsoft Dynamics 365 for Finance and Operations helps you store and access all information from a centralized place. Eventually, it helps you create reports easily and quickly. Moreover, you can also automate the reporting process.
Connects all your tasks
When you run a business, it’s only natural that you perform multiple tasks, manage all types of software, and more. The more spread out your business processes are, the more stressful, time-consuming, and prone to errors it gets. Furthermore, the valuable time you spend on switching between different software and applications can be spent on other aspects of your business, demanding your attention. Here’s how you can make everyday tasks easier to perform and manage by connecting the following:
- The Microsoft Dynamics 365 suite of applications, including Customer Service, Sales, Marketing, Field Service, Finance & Operations, Talent, Product Service Automation, and Retail.
- Microsoft productivity apps, such as Teams, Office 365, SharePoint, Bing, LinkedIn Insights and Sales Navigator, and Azure.
- Third-party apps, including Dun & Bradstreet Optimizer, Adobe campaigns, and more.
An upgrade from older versions
Good is not always enough, particularly when the business sector and the environment it operates in are quickly evolving. Financial software should serve your business requirements well. It would be the ideal solution for your business only when it’s not holding you back from scaling and achieving desired results. Moreover, you need an effective financial solution with modern-day features to gain an edge among your competitors. Thus, if you are still using the older version, Dynamics AX, now is the time to upgrade to Dynamics 365 for Finance & Operations. Microsoft will soon discontinue support for Dynamics Ax 2012.
Work confidently and securely
You can purchase powerful financial software as a cloud-based solution. It’s based on the most trusted cloud platform in the world – Azure. However, you can also deploy Microsoft Dynamics 365 for Finance and Operations on-premise if required. Thus, it is suitable for organizations with the most rigorous data security and privacy requirements. Furthermore, when you choose dynamics 365 for Finance and Operations as your financial software, you get the security assurance straight from Microsoft.
In terms of security, here’s where Microsoft stands at:
- It Invests more than $1 billion in security every year.
- It analyses data from over 300 billion user authentications every month, 1 billion Windows devices, and 200 billion emails (for spam and malware).
- Microsoft has a global cyber footprint. It offers unique intelligence on the current security and threat landscape to help protect you from the latest security threats and data breaches.
- You get advanced security functionalities that aren’t available on-premise.
- Microsoft also provides compliance with industry standards that removes a part of your compliance burden.
Stay current and scale easily
Dynamics 365 Finance and Operations comes with a flexible and scalable licensing model. It means it makes it easier for your business to scale. Furthermore, there are also different types of licenses available for different users. You also get access to incremental app updates, and not large-scale upgrades. It simplifies the training process and helps reduce the learning curve of a user.
Cost savings
Microsoft makes Dynamics 365 Finance and Operations available on a subscription basis. It means you don’t have to worry about paying a huge amount of capital up-front. You can pay on a month-to-month basis. Additionally, if you currently use Dynamics AX and have an active maintenance plan in place with Microsoft, you could avail extra discounts on your licenses on upgrading.
Microsoft partners make switching easy
Microsoft partners make switching to Dynamics 365 for Finance and Operations extremely easy. Microsoft also allows you to bring across customizations you initially created for Dynamics AX. Furthermore, if your business isn’t ready for a clou-based solution, you can always get it installed on-premise.
However, when you choose Dynamics 365 for Finance and Operations as a cloud-based solution, you also improve your onboarding experience with virtual assistance. Microsoft also helps you with easy-to-use guides for various tasks, including setting up a new account, how to assign resources to a project or ticket, opening a PO, and more.
Microsoft’s interface is user-friendly and very little training is required. You can quickly set it up and get it running without causing interruptions to your daily business activities.
FAQs
What is the use of Microsoft Dynamics 365 Finance and operations?
Microsoft Dynamics 365 for Finance and Operations is an Enterprise Resource Planning (ERP) software that enables medium to large-scale businesses to automate and manage their global operations. Furthermore, it offers real-time visibility into data to support decision-making, forecast demands, and promote organizational growth.
Which business functions can be managed by Dynamics 365 finance and operations apps?
Supply chain management, cost management, financial reporting, inventory management, procurement and sourcing, master planning, product information management, sales and marketing, production control, transportation management, cash & bank management, project management, cost accounting, employee development, and more are some of the primary business functions you can manage with Microsoft Dynamics 365 Finance & Operations.
What are the modules in Microsoft Dynamics 365 Finance & Operations?
The Microsoft Dynamics 365 Finance and Operations modules include commerce, supply chain management, finance, and human resources.
Is Microsoft Dynamics 365 Finance and Operations included in Office 365?
Office 365 was renamed Microsoft 365 in April 2020. Microsoft Dynamics 365 is a product line of Microsoft’s CRM and ERP applications. Microsoft 365 and Dynamics 365 offer different business solutions. Thus, Microsoft Dynamics 365 for Finance and Operations is not included in Microsoft 365.
Learn more about our implementation services for Microsoft Dynamics 365 for Finance and Operations.