Dynamics 365 Business Central in a Nutshell
As companies grow, they often outgrow the softwares that helped them a great deal at one point in time. Business Central is designed for companies at this important point of their growth journey. The point at which they are not small enough for a basic and affordable software and not big enough for an advanced and expensive software. Business Central is feature-rich without being expensive.
What is Dynamics 365 Business Central?
Let's start with the official definition from Microsoft:
Microsoft Dynamics 365 Business Central is a business management solution that helps companies connect their financials, sales, service, and operations to streamline business processes, improve customer interactions, and make better decisions.
In short, Business Central is a complete ERP solution with all the features that small and medium businesses need. Compared to high-end ERP solutions like SAP or Oracle, Business Central is affordable and value for money.
Top features of Dynamics 365 Business Central
Supply Chain Tools
The supply chain tools of Business Central are targeted to handle payment requests, choose vendors, publish invoices for completed orders and keep tabs of the inventory to discover which items are in stock, which must be refilled, and the remaining capacity. Additionally, the warehouse application for the Finance and Operations Suite permits the users to forward their requests of purchase directly to the warehouse employees from their Windows or Android devices.
Financial Management Tools
With the financial management tools of Business Central, administering your resources and financial statements from time to time will not take much effort. Of course, a real-time view of your financial transactions can make way for quick data analysis and reporting so that your business is rendered with a constructive picture of the present scenario and financial forecasts to yield primed decisions. Moreover, the users can also depend on advanced business analysis, bank account management, account scheduling, cash flow forecasting, basic extensible business reporting language (XBRL), data consolidation, data collection, intercompany postings, payment handling, insurance management, and such others.
If your company deals with manufacturing, you can utilize the planning tools that will automate procurement and purchase corresponding to the forecasts and inventory levels. The programs also put across bills of routings and materials that can be expended across multiple locations and assemblies and subassemblies.
Customer Relationship Tools
Satisfying the demands and expectations of the customers can be treated as the most imperative responsibility of business. However, when the needs are so diverse and extensive, an attempt to diligently comply with each of them becomes a tad excruciating and this is where Business Central comes to rescue. Believe it or not, when your organization has a fully-functioning customer relationship management (CRM) system, your likelihood of gratifying the consumers even though there is a pool of competition in the market intensifies. The CRM capabilities of Business Central comprise consumer behavior analytics, customer satisfaction levels, and retain systems and a strapping invoicing structure.
How can Dynamics 365 Business Central Help Your Company?
Any newly-implemented software would prove beneficial for your company only when you are making the right use of it and have a clear understanding of how their abilities can be exhausted to the fullest. If you are looking forward to knowing about the Dynamics 365 Business Central, in particular, here’s how it can proliferate both the efficiency and profit margins of your business.
Track Your Finances
No matter how big or small your company is, having a detailed report of your finances at the end of every day or week for that matter, at your disposal, qualifies as indispensable. With Business Central's connected processes, updating account receivables and payables as and when the financial forecasts are refreshed, becomes easier, less time consuming, and accurate.
The built-in features of Business Central make it a cakewalk to gauge the performance of a company and its workforce. This furnishes the authority in-charge with valuable insights into the crucial areas of the business thereby, increasing its chances of formulating better and more effective strategies and financial decisions.
Integrates Several Platforms
As we have already mentioned in the preceding segment, working with an advanced business tool like Dynamics 365 Business Central wouldn't call for mastery over technicalities. The automated workflows and tasks brought to you by Business Central rely on the rudimentary Microsoft interface that is used in applications like MS Outlook, Excel, and Word. This infers that you can appoint the trainees and interns in your company to tackle these zones while the more experienced workforce can be engaged in assignments that are unfamiliar and more challenging.
When you have access to innumerable customer interactions from the past, your company can turn it into something fruitful by identifying the best cross-sell, upsell, and renewal prospects. Besides swelling the revenues you can also spot the particular products/services that have created the most amount of buzz and generated maximum profits.
Understandably, if you have a bird's eye view of the inventory in your organization, the sales forecasts, and probable stock-outs could assist you in outlining efficacious production plans and purchase orders. If required, you can also make a note of the manufacturing capacity to perk up your production schedule for well-organized order fulfillment.
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