Microsoft Dynamics 365 Business Central is a cloud-based ERP system that offers flexibility and a wide range of advanced features to help businesses manage their finances, operations, and sales.
With Dynamics 365 ERP systems, Microsoft has attempted to build an ecosystem that enables various departments to refer to the same data and talk in the same language. Including the seamless integration between multiple tools (Power BI, Power Apps, Office 365, etc.) within the Microsoft ecosystem.
Dynamics 365 Business Central is inspired by the Dynamics NAV code base and is considered an upgrade for Dynamics NAV. Have you considered upgrading your ERP from Dynamics NAV to Microsoft Dynamics 365 Business Central?
Before you do that, let us look at some of the most useful enhancements and advanced features, and understand how they can help businesses improve their efficiency and productivity.
Business Central Advanced Features
Managing Finance with Ease
Have you ever felt the need to juggle between different financial documents so that they are all up-to-date? If your answer is yes, then Microsoft Dynamics 365 Business Central (BC) will be very helpful for managing finances with ease.
Business Central allows users to link together their inventory, sales, and purchase departments to fully understand how their finances move through an entire business process – including accounting!
With ledger accounts available on every screen inside Business Central, there’s no more juggling between various pieces or putting things off until later. Instead, everything can now happen simultaneously while still being linked securely within one system. This gives even better insights than before, especially when making financial decisions based solely upon what occurs within the organization.
The Synergy between Different Applications in the Microsoft Ecosystem
Customer Relational Management
Dynamics 365 Business Central provides several CRM capabilities to manage your interactions with contacts/ prospects and customers efficiently. These capabilities include campaign management and pricing, opportunity management, and built-in integration with the Sales solution.
Users associated with customer management or sales roles will have a comprehensive dashboard to cater to their needs. Moreover, it features valuable sales insights, process payments, handles service requests, and even displays Power BI reports.
The CRM functionality enables you to deliver value and the highest levels of support and service to your customers.
Power of Excel
Microsoft Dynamics ERP users will be excited to learn about the excel functionality in Dynamics 365 Business Central. This feature puts the power of data updates in the users’ hands and eliminates the need to reach out to IT for every minor change. Instead, they can export a list to excel, make updates, and publish the changes. This is just one of the many features that make Business Central an attractive option for Dynamics NAV users looking to upgrade their ERP system.
Thanks to Power BI, Business Central users can pull real-time data from multiple systems and transform them into a beautifully presented report ready for analysis in just minutes. You can also leverage artificial intelligence to extract meaningful insights and changing patterns within seconds.
Microsoft Outlook and Word
With the integration between Outlook and Business Central, sending business emails has never been easier. You can reply directly from your inbox without having to exit out or search for a specific folder where you save these messages. In addition, there is no need to add any data manually – all the information can be pulled into Microsoft Word to minimize errors.
As your business scales, managing projects can become complex and tedious. The Project Management functionality in Business Central helps you to optimize your projects. You can create, manage and track various projects using timesheets and reporting capabilities. To ensure project profitability, you can control developing, modifying, and maintaining the budgets. This functionality helps you make informed decisions with a 360-degree view of all the projects.
Inventory, Sales, and Purchase Order Management
The power of Dynamics 365 Business Central is that it can manage new product demands without any inventory. It is equipped with built-in intelligence to forecast when and which products will be refilled. This reduces shortages and eradicates lost sales for companies with high demand but no inventory available because they weren’t updated on their system.
The benefits are beneficial for eCommerce enterprises and warehouses, where you can use business central advanced features like blanket purchase orders or processing payments automatically through your financial institution, so there aren’t any delays during the checkout process either.
Human Resources Management
Human resources management can be a daunting task, but it becomes easier when you have access to Dynamics 365 Business Central. You can maintain detailed information about your employees, from contracts and confidential documents to contact details.
In addition, keeping track of their education and experience categorizing by skill sets and various training completed. It also tracks whether an individual has been paid in full. The system also keeps tabs on reimbursements due against expenses incurred, which means less time wasted analyzing data while discovering insights lost.
Boost Your Sales
Dynamics 365 Business Central is a robust software that enhances the sales process by acting quickly on behalf of your organization, especially when it comes to cross-selling opportunities or upselling. The program also keeps track of which customers are most likely going through certain ends to make sure you never miss an opportunity again! You get better targeting, actionable insights, improved customer engagement, and collaboration capabilities.
Modern User Interface
Business Central has an advanced user interface that is web-enabled and easy to use. The best practices of user adoption are used so that your users can easily maneuver across the system. In addition, you can customize the user interface to your requirements. This makes Business Central an essential tool for businesses of all sizes. Businesses will be able to save time, increase efficiency, and increase adoption with this powerful software.
Built-in Artificial Intelligence (AI)
Dynamics 365 Business Central is equipped with a sophisticated artificial intelligence system to help you work more efficiently. The AI automatically identifies products, fills in most fields on your behalf, and even automates some part setups for certain types like reading images or checking if they are compliant with industry standards – all without any human involvement!
Excellent Data Processing Solution
How often have you restarted your ERP application or system because it was stuck in the middle of a batch processing for something as small as a network issue? We have all been there.
With Business Central, this is not an issue as it is cloud-based. This reduces the risk and any losses caused because of it.
Improved Financial Reporting
Microsoft Dynamics 365 Business Central is a powerhouse when it comes to reporting. For example, while the Business Central chart of accounts consists of only the main segment, you can add unlimited dimensions.
This allows you to slice and dice your financial statements in many different ways. As a result, you can tailor your financial reporting to the needs of your business better. This provides valuable insights into your company’s performance, helps you make informed decisions, and allocate resources more efficiently.
Manage Records Efficiently
In any customer-facing business, it’s important to correct any mistake quickly. Running a utility to fix a wrong customer ID in your system can be time-consuming and disruptive to your business operations.
With Dynamics 365 Business Central, you can update the record on the fly on the Customer Card. This saves you time and hassle and keeps your business running smoothly.
A study from the Aberdeen Group, a technology and services company, found that 55% of businesses choose to upgrade their ERP system to take advantage of the new technology and capabilities they offer.
With Microsoft Dynamics 365 Business Central offering so much, it makes a compelling case for businesses to upgrade their ERP from Dynamics NAV or Dynamics GP to Dynamics 365 Business Central.
Are you looking to upgrade your ERP to Dynamics 365 Business Central?
If yes, get in touch with our Business Central experts today. We, Mentor Consulting Services, are one of the first Microsoft Dynamics NAV partners and have been in the industry for more than 20 years. We understand Dynamics NAV, Dynamics 365 Business Central, and your industry requirements like no one else.