Reasons why Small Accounting Firms Can’t Ignore Dynamic 365 Business Central

Microsoft Dynamics 365 Business Central

As your company grows, you need more employees, more office space, and more technology resources. However, this eventually leads to number of different systems being used for different tasks. In most of the cases, these systems are not designed to communicate effectively with each other. Disparate systems can lead to a wide range of problems for your organization. One of the biggest challenges for any organization is data silos. If brands want to become technologically and socially agile, they need aligned data. Furthermore, without unified customer view, it is really hard for the organizations to gain useful customer insights to deliver personalized experiences. Data across disparate systems results in disjointed marketing efforts that yield no results.

Apart from this, your systems and software needs to be maintained with each piece of software must be updated regularly. So, different systems require more costing for maintenance. Moreover, much of the software in use might have the very same purpose, but it’s installed on different systems—and you have to pay to upgrade each of them. Microsoft Dynamics 365 Business Central is a powerful all-in-one business management solution that unifies your business while eliminating data silos. With all new user experience and enhanced capabilities, Business Central enables you grow and connect your business. As the Microsoft’s newest offering for Small & Mid-sized organizations, Dynamic 365 Business Central has brought full NAV functionality to a SaaS (Software as a Service) environment alongside delivering flexibility to deploy in the private cloud or on Microsoft Azure (managed & maintained by Microsoft).

Availability of D365 Business Central as SaaS enables organizations with tight IT budget to leverage the capabilities of a smart business management solution without investing huge on setting up servers, maintaining IT teams, etc. As a single, comprehensive solution with capabilities to manage finances, operations, sales and customer service Dynamics 365 Business Central enables organizations to streamline their processes while improving customer relations. Business Central enables you to achieve more by delivering a complete view of the business with connected data, business analytics and guidance delivered by Microsoft’s leading intelligent technologies. Furthermore, as a highly scalable solution, D365 Business Central grows as with your business as it can easily be extended as per your changing business needs.

Reasons why Small Firms can’t ignore Dynamic 365 Business Central

Meet Compliance Standards – As tax compliance and reporting landscape is shifting dramatically, organizations are facing extreme pressure to remain compliant to the regulations. Dynamics 365 Business Central enables you to trace documents and information backward and forward throughout your system, showing you when employees made changes to your databases, who the employees are, and what exactly they did. Change Log in Dynamic 365 Business Central enables you to meet the auditing, compliance, and security policies while making your audit trail more transparent, allowing auditors to drill down, filter, and navigate your financial information seamlessly.

Financial Visibility – By connecting data across accounting, sales, purchasing, inventory, and customer transactions, Dynamics 365 Business Central provides your real-time visibility of your business, enabling you to make more informed decisions. With built-in Power BI dashboards, you can chart financial performance in real time to identify patterns and trends. Business Central enables you to close financial and reporting at an accelerated pace while compliance at every stage. Dynamic 365 Business Central also improves forecast accuracy with comprehensive data modeling and analysis.

Optimize your supply chain – Built-in capabilities of Dynamics 365 Business Central delivers prediction for optimal time to replenish stock. By using sales forecasts and expected stock-outs to automatically create purchase orders. Business Central enables you to track every item transaction and movement by setting up bins based on warehouse layout and storage unit dimensions. You can calculate and optimize manufacturing capacity and resources to improve production schedules and meet customer demands with Business Central.

Boost sales and improve service – By keeping track of all customer interactions and getting guidance on best upsell, cross-sell, and renewal opportunities throughout your sales cycle, you can boost sales performance. With comprehensive visibility to customer insights, you can deliver personalized experiences to customers. Business Central also enables you to gain a comprehensive overview of service tasks, workloads, and employee skills with which you can effectively assign resources and facilitate case resolution.

Project Management – Dynamics 365 Business Central enables you to perform project service automation. With D365 Business Central, you can manage tasks such as tasks such as configuring jobs, scheduling resources, managing budgets and monitoring progress. Furthermore, with Dynamics 365 Business Central project managers can manage fixed-price jobs and time-and-materials jobs, and generate customer invoices based on tracked costs. Timesheets allow users to track hours logged for both employees and equipment, and keep track of allocation of resources by requiring manager approval.

Human Resource Management – Dynamics 365 Business Central enables you to keep detailed employee records such as contacts, qualifications, and contract information. Furthermore, managers can group and track employee information according to factors such as experience, skill sets, training, and union membership. With Business Central, the absence of the employees can be logged, tracked, and tagged using reason codes. Business Central also helps in managing employee expenses as they can be posted to the general journal, and employees can be reimbursed easily using the same method used to pay a vendor.

Service Order Management – Service Order Module (available with Business Central Premium Edition) enables companies to provide excellent service to their customers, helping to boost customer satisfaction and brand loyalty in the process. Business Central also supports field service operations, enabling businesses to oversee their service management operations, from processing orders, to issuing contracts, and managing technicians. Business Central delivers tool to register and track post-sales issues, including new service requests and routine maintenance, and set and update service prices.Service KPIs can be monitored through Business Central, which allows users to record and track information on service levels, response times, and service history of each contract. Core capabilities of Business Central help you to manage logistics including availability, log handling details, and update the order status.

Manufacturing – Manufacturing module (available with Business Central Premium Edition) helps production businesses manage and streamline their output. You can create production orders, produce and manage alternative versions of production bill of materials, and outsource particular operations within a production order to subcontractors. Business Central also enables you to manage demand, with master production scheduling and materials requirements planning tools. You can create production and purchase orders based on demand forecasts and inventory levels. Machine centers can be managed through the app, and be aggregated into work centers to allow users to control capacity levels, and ensure work centers are operating at an efficient level. Business Central also supports agile manufacturing, enabling businesses to plan for peak times, and make eleventh-hour alterations to processes to facilitate changes.

Licensing Guide for Dynamics 365 Business Central

Full User License – are the users whose work requires use of the feature rich business applications functionality. Examples of full users are sales people, customer service representatives, finance employees, controllers and supply chain managers. These users have also been referred to in the past as Professional users or Power Users. These full users are licensed with a Dynamics 365 Business Central subscription.

Team Member – This includes read, approval, and reporting access only, plus use of employee self-service features. This is perfect for users that may consume data or reports from line of business systems, complete light tasks like time or expense entry and HR record updates or be heavier users of the system, but not require full user capabilities.

Business Central comes in two editions i.e. Essential & Premium

Team Member Business Central
Essential
Business Central
Premium
Read and approve Invoicing Features of Essential
Edition
Run all reports Purchasing Service management
Employee Self Serve Opportunity Manufacturing
Management
Budgets
Finance
Fixed Assets
Purchasing Order
Management
Resource Management
Workflow
Contact Management
Simple Inventory
Advanced Sales (SO)
Advanced Inventory (stock)
Distribution

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