The significance of Enterprise Resource Planning (ERP) systems have increased over the period. Rapid technological trends are causing a shift in the way in which companies are operating. Dynamics Business Central is a unique ERP solution that organisations can implement for performance optimisation.
Microsoft Dynamics Business Central consists of integrated solutions for streamlining core functionalities across areas such as finance, manufacturing and supply chain management. It offers various benefits which small and medium scale enterprises can make use of to scale up operations. In this blog, we will be assessing Business Central as an ERP system and the many advantages it offers.
What is Dynamics Business Central?
Dynamics 365 Business Central is a comprehensive end-to-end software that provides businesses with agile solutions for the management of complex activities. It has cloud-based functionalities for supporting organisations in operating remote or hybrid work setups.
Microsoft Business Central equips users with modern ERP tools that can be fully customised to suit their unique preferences. The ERP solution helps businesses in phasing out legacy ERP systems that they might still be operating.
Before we can address whether Dynamics Business Central is an ERP system, we will first explain what ERPs are.
Understanding ERP systems_
ERP systems are software with enterprise performance management capabilities that support organisations in managing everyday business activities across the board. ERPs collect organisational data from various sources to aid in the elimination of data duplication.
By simplifying aspects of a business including financials, logistics, manufacturing and supply chain, ERP systems serve as an integrated hub for businesses and industries of all sizes. They are key tools that can be tailored and configured to meet the needs of businesses to enhance efficiency. ERP solutions help in unifying employees, processes and technology across board.
ERPs automate business processes and provide insights to simplify work activities for every user. ERP systems enable organisations phase out disconnected systems which employees may be struggling to use, thereby maximising efficiency.
Dynamics Business Central as an ERP system_
Dynamics Business Central has core functionalities and features that align with the core principles of ERP systems. It assists users in the automation and management of business processes across functions including finance, human resources, operations, supply chain and manufacturing. Formerly known as Dynamics NAV, Microsoft Business Central supports business leaders in optimising business operations across the board.
Evolving technological trends have created an increase in the popularity of ERP systems, as businesses seek smart solutions to streamline operations. Dynamics Business Central possesses a wide range of functionalities for the effective management of business activities.
Microsoft Business Central offers real-time visibility to provide you with detailed insights for business growth and development. The ERP system collates information from various data sources using Artificial Intelligence tools to help users in streamlining common areas of business. ERPs provide real-time data and insights for informed decision making.
Dynamics 365 Business Central provides multiple benefits as compared to traditional ERP systems. As a cloud-based application, Microsoft Business Central eliminates the need to invest in costly on-premises IT infrastructure and systems. This makes it more accessible and cost efficient.
Functionalities of Dynamics Business Central_
Dynamics 365 Business Central is an integrated platform which facilitate you in working efficiently for the fulfilment of internal and external objectives. It has diverse functionalities and modules which every organisation can gain value from.
Dynamics 365 Business Central supports businesses in adequate financial planning and management. It has features which automate processes such as auditing, budgeting and forecasting. Through the provision of real-time data and financial management tools, Business Central centralises financial data to assist in enhanced productivity for financial teams.
The software also eases workflows for maximum output and results and enables businesses manage accounts receivable, account payables and cashflows.
Business Central has a group of applications that provide basic functionalities to support businesses in tasks such as lead tracking, quote processing, pricing & rebates. Additionally, it helps businesses in reporting, order entering and customer relationship management.
Dynamics 365 Business Central gives organisations an insight into their purchase and buying routines, for the creation of a more optimised process. It enables users adopt efficient procurement strategies for business growth. It also helps in the recording and rendering of data for activities such as product catalogues, vendor contracts, repeat procurement and price lists.
Microsoft Dynamics 365 Business Central comprises of modules which makes it easy for users to efficiently manage inventory. The application aids businesses in checking best-selling items, aged inventory and vendor lead times. By so doing, the cumbersome tasks of managing inventory are made seamless.
Business Central provides you with the tools needed to manage your warehouse more productively. As an integrated solution, Dynamics 365 Business Central supports you in optimising storage space. With advanced functionalities, the application provides alerts in real-time for immediate feedback on the status of queries. It also contains submodules for stock-unit management, courier systems integration and item shipping.
For streamlining, integration and management of all aspects of the manufacturing process, Microsoft Dynamics 365 Business Central is the go-to-software you need. With its ERP functionalities, it ensures that businesses are kept up to date with changing customer demands. Its submodules assist organisations in activities including production order planning, product data management and subcontract manufacturing.
Human Resource Management_
Effective human resource management is key for the success of every business. With Business Central, users gain access to multiple functions that support in personnel management, payroll integrations, workforce management and training. Its robust functionalities helps corporate managers in handling several employee related tasks.
Resource and Planning Management_
Business Central also provides organisations with comprehensive tools for efficient project management. Aimed at driving project success, the application allows project managers to handle tasks such as budgeting, progress monitoring, resource allocation and timesheet management. Its additional modules include capacity management, invoice jobs, progress monitoring and job lifecycle management.
Microsoft Dynamics 365 Business Central provides companies with advanced features to manage end-to-end service requests, work orders, spare parts, and service contracts. It helps service teams in delivering on targets and service-level Agreements (SLAs), to drive customer satisfaction and loyalty.
Relationship Management (CRM)
With Dynamics 365 Business Central, organisations have access to essential tools and information needed to oversee interactions with customers and contact segments. Additionally, it offers end-to-end capabilities for managing contracts, customer interactions, segmentation, sales opportunities and marketing campaigns.
Benefits of Dynamics 365 Business Central_
Robust Security and Compliance_
Business Central consists of comprehensive enterprise-grade security to ensure the maximum protection of organisations. It has in-built features to ensure the safeguarding of your data and sensitive information. Dynamics Business Central allows users to configure security settings to suit their preferences. The modern security features within the ERP system protects businesses from unwanted security breaches.
Scalability and adaptability_
Business Central has the ability to promote business growth. With its powerful features, it drives a new level of productivity for every organisation. It offers intuitive tools to assist with the scaling of business growth. Business Central can also be customised to meet an organisation’s specific needs and requirements. It also provides adaptability and flexibility, allowing companies to have a competitive edge.
One of the unique benefits of Business Central is its ability to integrate with other products in the Microsoft suite of applications. You can easily integrate Dynamics Business Central with familiar Microsoft 365 software such as Teams, Outlook and SharePoint for enriched collaboration and connectivity among staff.
It also provides innovative tools for a combined digital experience for flexible and modern workforces. By integrating with Microsoft 365 collection of applications, Dynamics 365 Business Central empowers employees to easily deliver on work processes.
Improved Customer Service management_
Microsoft Business Central improves customer service management by utilising innovative tools to track and manage customer requests. The system also assists you in tracking client conversations and sales orders for enhanced customer satisfaction.
Optimising your customer service experience is crucial in maintaining value for your clients. With Business Central, you will be able to maximise high levels of customer satisfaction.
Charting business growth with Dynamics Business Central_
With its versatile features and functionalities, it is evident that Microsoft Business Central qualifies as an ERP system. Tailored to meet the needs of customers, the application provides a robust set of features to promote productivity and business growth. Consisting of user-friendly interfaces, Dynamics Business Central is a powerful tool for users to execute set tasks.
Due to the advancements in emerging technologies, Business Central is regularly updated with new features from Microsoft. Investing in this ERP solution will streamline your business operations and growth. It will also empower you in gaining insights for fact-based decision making.
For more advice on how to implement Business Central to leverage business growth, contact our team of experienced consultants for comprehensive guidance.