7 Ways Dynamics 365 Finance and Operations Boosts Efficiency
09 Nov 2018
Launched by Microsoft, Dynamics 365 ERP is one of the most effective for businesses today. It is perfect to save the time, effort and even the costs associated with running a business. There are numerous ways in which Dynamics 365 contributes in financial and operational efficiency on an organizational scale.
Dynamics 365 Finance and Operations: The Smart Way of Business Management
Dynamics 365 Finance and Operations is now known as Dynamics 365 business central. It is used by the corporate sector as the ultimate solution to business management. By making the management of businesses easier and faster it boosts the efficiency of the business as a whole.
There are innumerable ways in which the corporate world is benefiting from Dynamics 365 Finance and using it to boost the efficiency of the business. The most highlighted ones include:
- Informed Decision Making
Dynamics 365 Finance and Operations or Dynamics Business Central is an amazing tool which can help a business make informed decisions by synchronizing different modules in an ERP such as inventory, purchasing, sales, customer interaction and accounting across the company. A business can be monitored and evaluated end-to-end with this innovative tool by Microsoft.
- Reports and Accelerated Financial Closing
The report generation feature of Dynamics 365 Finance and Operations and accelerated financial closing helps a company maintain compliance while streamlining the receivables and payable of an account. After this, the accounts are reconciled automatically and reports are generated highlighting the financials of the company. This is done by Dynamics 365 Business Central very quickly and efficiently.
- Forecast Accuracy
Forecasting help companies in preparing their production and sales strategies but forecasts are not always 100% accurate. With Dynamics 365 finance and operations the organization can get refined and accurate financial forecasts. This tool allows analyzing and modeling of data across various dimensions.
The Dynamics 365 finance and operations module is also helping the companies perform better in the corporate sector and making the handling of operations filled with convenience and ease.
- Forecast Management
The Dynamics 365 Operations’ tool is perfect for managing the forecasts. Forecasts help a company develop their production plans and sales strategies. A team has to design these plans manually and can take up to a few days or even weeks. With Dynamics 365, the need to manually work out the plans and strategies is eliminated. Automatic production plans and purchase orders can be generated through this sophisticated and amazing tool.
- Efficient Warehousing
Managing a warehouse is a hectic task. Proper maintenance of the warehouse ensures that a company has a steady flow of materials and products. With this dynamic tool, orders can be fulfilled seamlessly and efficiently as it provides a holistic view of the whole warehouse and inventory making it easier for the employees to keep a track of every transaction. This is done through the setting up of bins which are specifically based on the layout of the warehouse and the dimensions of the storage unit of the company.
- Budget Management
Budgeting is one of the most essential components for the smooth functioning of a business. Therefore, setting up a budget and maintaining it is one of the primary requirements of a business. Dynamics 365 business central helps a company manage the budget through the timesheets. These timesheets help the department to manage the customer projects along with job costing and reporting with much and ease and convenience.
- Resource Planning and Management
Planning and strategizing are important parts of organizational operations. This tool helps in the management of resource levels through the capacity of planning and sales. This tool allows tracking invoices for customers based on planned order, quotes and costs.
These are the most highlighted benefits of using Dynamics 365 financial management and Dynamics 365 Operational Management. Manage operations and finance of the company with absolute precision and perfection. This excellent tool by Microsoft, Dynamics 365 Finance and Operations, is the best and the most reliable tool top boost the efficiency of the company operations and finance.