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Dynamics AX, now rebranded as Dynamics 365 for Finance and Operations, is a modern Enterprise Resource Planning (ERP) system introduced by Microsoft. It is best suited for medium to large organizations, who want to optimize all their business processes, elevate their financial performance, and streamline their operations in one place. Dynamics 365 for Finance and Operations is available in the cloud, on-premises, or through hybrid integrations to help maximize your existing business. Furthermore, Folio3 has partnered with Microsoft Dynamics to provide you with a smart approach to integrate your apps. With this seamless integration, you can save up on your precious time and efforts, and increase your productivity exponentially. Numerous companies, across the globe, have used this esteemed ERP system to help efficiently run and manage their finances and operations. A few of Folio3’s satisfied clients include Honda, Growers Express, and Bastian Solutions.

Microsoft Dynamics 365 Finance and Operations Pricing

The Dynamics 365 Finance and Operations Pricing are split into two. The apps for managing finances and operations are different. The prices for the user’s first Dynamics 365 app and subsequent qualifying Dynamics 365 apps vary; the former being more expensive. Both the business areas have been disused below.

  1. Finance

The Dynamics 365 apps include:

—Finance 

—Business Central (Essentials)

—Business Central (Premium) 

  • For Finance

Price for user’s first Dynamics 365 Finance app: $180 per user per month

Price for user’s subsequent qualifying Dynamics 365 Finance app: $30 per user per month 

  • For Business Central Essentials 

$70 per user per month 

  • For Business Central Premium  

$100 per user per month 

  1. Operations 

The Dynamics 365 apps include:

—Supply Chain Management 

—Project Service Automation

—Business Central Essentials 

—Business Central Premium 

  • For Supply Chain Management 

Price for user’s first Dynamics 365 Finance app: $180 per user per month 

Price for user’s subsequent qualifying Dynamics 365 Finance app: $30 per user per month 

  • For Project Service Automation 

$95 per user per month 

  • For Business Central Essentials 

$70 per user per month 

  • For Business Central Premium  

$100 per user per month 

Microsoft Dynamics 365 Finance and Operations Modules

The Dynamics 365 Finance and Operations has four main modules, with each module having its list of applications. You can even personalize your approach towards the ERP that works well for your business. The four main modules are:

  1. Commerce 
  2. Finance 
  3. Supply Chain Management 
  4. Human Resources 

 

  1. Commerce 

With the Commerce module, you can create a personalized, seamless shopping experience for your customers on your e-store, traditional retail, and other connected commerce platforms, including all physical and digital channels. You can:

—Meet all the accepted industry standards by utilizing only the best practices on your shopify channels.

—Better multichannel interaction between partners and magento customers on any existing combination channels 

—Better data analysis to create a highly personalized experience for your customers, such as personalized loyalty programs

—Better flexibility and security in compliance with the global amazon security standards

  1. Finance 

With the Finance module, you can automate your financial operations and monitor your business’s performance in real-time. This module is integrated with Artificial Intelligence (AI) algorithms. You can easily predict future outcomes, make data-driven decisions to help your business grow. The Finance module helps you to:

—Reduce operational expenses 

—Decrease any global financial risks and complexities 

—Automate your financial processes 

—Better strategic decisions with the help of AI    

—Predict customer payments with the help of AI

—Increase the accuracy of the projected cash flow

—Adapt budget proposals quickly

  1. Supply Chain Management 

These logistics management apps are based on AI and can be easily integrated with third-party IoT solutions. Key features include:

—Reduced costs for implementation of supply chains 

—Reduced human errors due to automation of tasks

—Better inventory management aligned with the current logistics 

—Predict and detect failures or decreased employee productivity, etc.

  1. Human Resources 

Human Resources are an important part of any business. The satisfaction and well-being of your employees are extremely important for their better productivity, which, in turn, affects the progress of your business. Features of this module include:

—Automated tools help to search for potential applicants much faster, as compared to searching for them manually 

—Personnel management operations are easily managed. These include attendance, monitoring, payroll, etc.

—Quick adaptation to the new labour market trends

—Real-time analysis with prognostic and analytical tools

Now since the four major modules have been discussed, a few of the central elements of the modules of the Microsoft Dynamics have been listed down below:

—Sales orders

—Sales quotations 

—Sales agreements 

—Sales and marketing tasks 

—Cost management 

—Inventory management 

—Warehouse management 

—Asset management 

—Project management 

—Human resources management 

—Lean manufacturing 

—Process manufacturing 

—Discrete manufacturing 

—Project manufacturing 

—Cost accounting 

—Compliance 

—Regional regulatory features 

Microsoft Dynamics 365 Finance and Operations Features

Automation of your business increases its efficiency in all aspects. There are countless ERP systems available in the market for you to choose from. You can even opt for a customized solution that fulfils all your business requirements. However, these modules are the basics of all ERP systems available in the market. The salient features of Dynamics 365 finance and Operations are:

  1. Tax

You can easily create and manage tax reports for submission, in addition to creating and managing tax authorities and tax tables.

  1. Human Resources 

You can monitor the performance of all your employees in one place. From managing their payroll to attendance; you can manage and monitor it all with one glance. 

  1. Accounts 

With Dynamics 365 Finance and Operations, you can manage your warehouse and inventory and sync your stores accordingly. You can even monitor your accounts with the help of module reports, charts, and graphs. 

  1. Product details 

You can create buy/sell values and also create sales agreements for all items. In addition to this, you can create Bill Of Materials (BOM) and the relationship between BOMs and all items. 

  1. General Ledger Functionality 

With this feature, you can create core reports and business intelligence for most common GL based reports. You can also share a list of accounts and sub-accounts between companies. Furthermore, you can set up new journals, maintain journal entries and also manage currencies. 

  1. Invoice and Billing 

You can handle multiple currencies and also adjust the exchange rate accordingly. With this feature, you can register invoices and process approval requests with just one click. 

  1. Banking 

 With the banking feature of the Dynamics 365 Finance and Operations, you can create and manage your accounts without any hassle. Moreover, wire and credit card processing is a breeze of fresh air. 

  1. Fixed Assets 

You can sell and transfer assets, create and manage assets by type and category, and also create value models for your most purchased items. 

  1. Global Risk and Compliance 

Dynamics 365 for Finance and Operations allows you to follow country-specific bank formats for electronic payments, and it also lets you import bank account statements. You also get the added benefits of multi-languages, multi-currency, and exchange rate adjustment options. 

  1. Accounts Receivable 

Creating sales invoices, account statements, sales estimates, sales orders, and confirmations has never been so easy. You can also create and manage customers and their details without much of a hassle. 

Microsoft Dynamics 365 for Finance and Operations Certifications

To be a Microsoft Certified Associate, you must take a few exams. By taking these exams, you can learn new skills to help boost your productivity and also allow your organization to achieve more with these Microsoft Certifications. The Microsoft Dynamics 365 for Finance and Operations certification exams are:

  1. Dynamics 365 Supply Chain Management, Manufacturing Functional Consultant Associate

For this certification, you would have to take two exams (MB-300, MB-320). Once you clear these exams and earn the certification, you can work as a Functional Consultant. You would mostly be responsible for lowering costs, improving manufacturing efficiency, visibility, and flexibility of the system.  

  1. Dynamics 365 Supply Chain Management Functional Consultant Associate 

You would be required to take two exams (MB-300, MB-330). Once certified, you can work as a Functional Consultant and streamline cost accounting, inventory management, and warehouse management. 

  1. Dynamics 365: Finance and Operations Apps Developer Associate 

After earning your Microsoft Certification by clearing these two exams (MB-300, MB-500), you would be entitled to the job role of a Developer. Your job would be to implement and extend applications to meet all the requirements of the business. 

Folio3 is Your Ideal Tech Partner for Dynamics 365 Finance and Operations

Folio3 is a certified Microsoft Dynamics partner that provides its clients with an advanced offer of FastTrack Finance and Operations solutions. This solution, offered by Folio3, helps to ensure that the Dynamics 365 Finance and Operations solutions provided to their customers are complete and comprehensive. This ensures a smooth running of the ERP system for Folio3’s clients. Folio3 provides its clients with all the mobility solutions required for their business to grow. These mobility solutions include apps for warehouse management, retail management, workflow approvals, Dynamics CRM, timesheets, expenses, and loyal management.     

Conclusion

In this blooming era of AI, many businesses have chosen to explore the ERP systems to improve their overall efficiency. The ERP system, Dynamics 365 Finance and Operations, has been the ERP system of choice for many clients globally. You can easily monitor the optimization progress of your business via various business performance tools, such as activity stacks, charts, and alerts. The Dynamics 365 Finance and Operations provides your business with all the essential modules for a comprehensive financial and operational management of your business from any industrial sector.

FAQs:

Is the Microsoft Dynamics 365 Finance and Operations included in Office 365?

On 21st April 2020, Office 365 was renamed as Microsoft 365. Microsoft Dynamics 365 is a product line of the ERP and CRM (Customer Relationship Management) applications of Microsoft. Dynamics 365 and Microsoft 365 provide different business solutions. Hence, the Microsoft Dynamics 365 Finance and Operations is not included in Microsoft 365.

Author

Top Microsoft Dynamics partner with 300+ Projects completed worldwide since 2001. Delivering a single point solution tailored to your business needs.

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