Microsoft Dynamics 365 Finance and Operations is a comprehensive ERP solution for businesses. It offers a purpose-built solution to manage finance and operation activities. Various industries like the retail industry, manufacturing industry, public sector and a host of other industries use Dynamics 365 finance and operations. It contains the key enterprise resource planning functionalities for the operations team, the finance teams, and the human resource teams as well. It allows businesses to manage finance and operations in the most streamlined manner. Therefore, the companies that use D365 finance and operations are able to adapt to changes quickly.
Why should you adopt Microsoft Dynamics 365 Finance and Operations?
D365 finance and operations were previously known as Dynamics AX. It is one of the most advanced cloud-based software which is developed to help you manage your business functions. Though mostly, D365 is used by big sized firms, but even the small-sized firms and the startups are now interested in using D365 finance and operations, as it offers a lot of benefits.
It offers clear visibility of all the Dynamics 365 operations of the business. Also, it helps to manage the standardized business processes that are quite important for the companies. Especially, when the businesses are planning to expand or want to enter a new market, then D365 turns out to be quite helpful. Therefore, it is known as the spinal or the core infrastructure of any business. It is capable of integrating each and every team of the firm, be it the sales department, the production units, the manufacturing wings, the services department, etc. However, the main reason why Microsoft Dynamics 365 Finance and Operations is adopted is that it covers almost all the relevant back-office operations and it makes the process of handling the operations on a daily basis a cakewalk.
D365 Finance and Operations for back-office operations in a financial institute or a bank
As per the requirements of the business or the key functioning of the bank or the financial institute, D365 can be adopted. Many large companies, like Hitachi, have implementedD365 for Finance and Operations for their banking and other financial and operational tasks. The main reasons why banks adopt D365 are to manage the reporting, the accounts payable, the general ledger, the statutory reporting, the fixed assets, buying requisitions, asset management and a host of other things.
Microsoft Dynamics 365 Finance and Operations can be flawlessly integrated with various other segments on D365 as well. It can work in complete collaboration with the other components. It is possible to integrate D365 with customer service, marketing, HR, Talent, CRM, Sales and a host of other D365 applications. However, mostly, D365 finance and operations is preferred because it lets you handle each and every traditional back-office task.
Benefits of using Microsoft Dynamics 365 Finance and Operations for back-office and other tasks
The main aim of every business is to grow and therefore, businesses are interested in adopting a solution that is capable of scaling and helps the businesses to scale up as well. Therefore, D365 for operations is preferred by the companies as it is quite scalable. It empowers the companies with the flexibility to grow. Also, the speed of handling new operations is quite high. Basically, D365 allows the leaders to perform business activities at any time and at any place. Thus, the solution is built to easily adapt to changing business needs. And, at the same time, the fact that it is present on the cloud makes it all the more flexible. Additionally, it enables businesses to grow their back-office operations internationally to fulfill the requirements of the business.
The Power of Business Intelligence
One of the most valuable and talked about features of D365 is Power Business Intelligence or Power BI. The integrated solution, Power BI offers extensive analytical functionalities to the business. Not just analytics, but it is capable of handling reporting functions. Thus, back-office operations that require the users to collect and manage the data are completely automated and handled via Power BI. Therefore, there is no doubt about the fact that Power BI empowers the businesses to move in the right direction as it provides the companies with the right guidance.
Microsoft Dynamics 365 is one of the fastest evolving corporate solutions that contains a host of other features that just the ERP functionalities. In the latest versions of the solution, there are a lot of new features that are being added regularly. Therefore, the users are able to quickly handle the back office and other tasks with greater efficiency and accuracy. A lot of new apps were launched, like Microsoft Dynamics 365 for Retail, Microsoft Dynamics 365 for Talent, Microsoft Dynamics 365 for Sales and many more. Basically, the company majorly focuses on enhancing the quality of the overall financial management operations.
D365 Finance and Operations issued for a wide variety of reasons. It contains several interesting and useful features for the businesses. One of the main feature is the feature that allows you to foresee the cash flows. As a result, the businesses are able to visualize the possible stability of the finances. Additionally, the experts can generate forecasts based on the insights generated from the data. For example, the sales and services related data, the fixed assets related data, the general ledger related data and the purchasing data, etc. are used to manage the financial health of the company.
Therefore, if you want your teams to flawlessly manage all the back-office activities related to the finance and operations of the companies, then D365 finance and operations is the top choice. Microsoft Dynamics 365 Finance and Operations is capable of collaborating and managing each and every back-office operation and system in a single platform. Though, the financial capabilities will be much better. The businesses have been using Microsoft Dynamics 365 finance and operations have realized that they are able to manage the back office and other finance and operations related tasks quickly and efficiently.