In the wake of emerging technology trends, organisations are adopting modern and faster methods of improving productivity. Businesses want to use Enterprise Resource Planning (ERP) systems to improve how they perform tasks like financial planning, supply chain management and project management.
Microsoft Dynamics 365 Business Central plays a significant role in organisations achieving this aim. In this post, we will take a deeper look into what Business Central is, and the advantages it can offer to organisations looking to modernise their ERP systems.
What is Dynamics 365 Business Central and what is it used for?
Formerly known as Dynamics NAV, or Navision, Microsoft Dynamics 365 Business Central is an end-to-end software that streamlines core functionalities across areas including operations, supply chain and finance into a centralised platform. It is a comprehensive solution which facilitates businesses in managing complex activities using agile solutions.
Gone are the days of struggling to do simple tasks with legacy ERP systems. With Dynamics Business Central, users will be able to keep up with changing internal processes, as well as evolving customer needs. It is fully customisable and suited to the need of organisations in any field.
Modernising ERP to support the new hybrid working model_
The app helps businesses grow and expand by supporting hybrid and remote work models with cloud-based features. The software combines cloud storage to replace the infrastructure needed for business tasks like financial reporting and project management. Employees can work efficiently from anywhere using the ERP system’s cloud capacity, leading to better outcomes.
Business Central offers several useful features which empowers organisations in achieving optimal results. It supports business professionals in efficient financial reporting and data insights. The software helps finance teams create, view, and maintain financial statements easily. It also assists with forecasting revenue, monitoring profit, and tracking customer sales. Business Central also uses third-party tools like Jet Reports for real time reporting and analytics.
Sales and Marketing is also another functionality offered by Dynamics Business Central. It allows marketers track customer interactions across touch points such as email campaigns. It also helps in positioning content to deliver engaging customer interactions, for increased customer satisfaction and results. Sales leaders are also given access to tools that contribute to areas including efficient tracking of client agreements, product availability and invoice information. Management of prospective leads is also made easier through smarter prioritisation and opportunity management.
Another useful feature is the streamlining of service order management for customers. Dynamics 365 Business Central effectively manages the chain of events from when a customer places an order to when it is finally received. The software is made up of tools which support in providing ongoing support to fulfil customer repairs and field service operations. It also assists in scheduling service calls and the setup of service orders.
Microsoft Dynamics 365 Business Central supports businesses in building sustainable supply chains. It creates a resilient supply chain system by offering an integrated platform to automate processes for the improvement of business results. Business Central uses cutting-edge technology in logistics to control the supply chain process using a single program.
Lastly, warehouse management and fulfilment is one of the core capabilities of Dynamics Business Central. It helps organisations in accelerating delivery times by streamlining and automating warehouse operations. The automation of manual tasks and processes helps reduce the manual handling of tasks. Warehouse operatives are therefore empowered to work efficiently so they can fulfil orders on time.
We believe this information has given you more insight into the features of Dynamics Business Central. Next, we’ll cover some of its benefits and how it can elevate your business operations.
Financial management streamlining_
The functionality within Dynamics 365 Business Central essentially enhances financial management within businesses. It automates financial processes and reporting activities such as forecasting, auditing and budgeting, providing real-time insights into critical financial data in a centralised way.
Business Central also facilitates better collaboration across finance and operational teams, leading to improved financial planning, improved productivity, and fact-based decision making.
Smart AI integration into Dynamics Business Central_
If you’ve been following Microsoft’s recent AI developments, then you’re no stranger to the integrations within the broader Microsoft ecosystem. Dynamics Business Central has in-built AI features to facilitate small and medium scale businesses in working smarter. It has Copilot, Microsoft’s new AI tool, which uses natural language tech to automate repetitive tasks. This AI assistance empowers users in performing tasks with ease for increased productivity.
The Copilot tool in Dynamics 365 Business Central uses AI to forecast future sales by analysing previous data. This helps in avoiding stock shortages and enhancing customer service. The AI assistant analyses forecasts and inventory levels to prevent stock shortages using the Sales and Inventory Forecast extension. The extension also helps you save time by creating replenishment requests to vendors.
Another AI functionality within Business Central is Azure AI which helps businesses in creating comprehensive cash flow forecasts, to enhance decision making. It equips business leaders in making impactful evaluations to improve upon the financial health of their organisations.
Microsoft ecosystem integration with Dynamics Business Central_
Microsoft Dynamics 365 Business Central is versatile and can integrate with other Microsoft applications. The software works with popular apps like SharePoint, Teams, Outlook, and Excel to improve productivity and teamwork between departments. Business Central integrates with these innovative tools to help businesses manage modern workforces for projects like costing, auditing, and accounting.
Dynamics Business Central integrates with other Dynamics 365 apps and Power Platform tools. This integration aims to create customised packages that enhance efficiency in marketing, sales, production, and finance.
Backed by a robust security platform_
Cyber security threats has become increasingly high over the period. Around 236.1 million ransomware attacks occurred globally in the first half of 2022, according to a report. This is an indication of the rapid rate at which cyber-crime is rising. There is therefore the need for organisations to use software with in-built security tools for maximum protection.
Business Central is backed by the security tools provided by Microsoft, protecting data and IT infrastructure with strict security measures. Unlike legacy ERP programs, Dynamics Business Central has modern security features to allow for the restriction of unwanted access to databases.
What is the difference between Dynamics 365 and Business Central?
Users are often confused about the difference between Dynamics 365 and Business Central. Both applications are quite similar in functionalities and mode of operation.
Dynamics 365 offers both ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) solutions. It is made up of cloud-based apps that support with accounting, operations and other business tasks. Dynamics 365 helps mid-size businesses in managing customers, lead prospects and wider team members. The platform provides employees with advanced tools needed to improve productivity and efficiency.
Dynamics Business Central on the other hand, is an all-in-one solution ERP system, which integrates with wider modules to offer core capabilities across finance, supply chain and project management. Business Central is a part of the Dynamics 365 platform and is suited for SMEs seeking low costs of ownership for the subscription of team members.
Dynamics Business Central pricing_
Microsoft Dynamics 365 Business Central offers various pricing programs for its users. You will require a monthly licence subscription is required to access the software. Its main pricing includes Essentials, Premium and Team Members.
For detailed pricing information, you can visit this link.
Ready to take your business to the next level?
Dynamics Business Central drives development, growth and innovation in business. Accessing its intelligent features will help transform data-driven decision making and management. If you’re ready to unlock the full potential of Business Central, contact our technical team for assistance.