In this era of cut-throat competition, business leaders are embracing enterprise resource planning (ERP) systems to gain real-time visibility into their finances and operations. Furthermore, ERP improves the productivity of the employees by automating and streamlining tedious back-office tasks. Among some of the most notable ERP solutions, Microsoft Dynamics 365 ERP has earned laudable recognition in the global market.
Before discussing anything about Dynamics 365 ERP, let us first discuss why your organization needs an ERP solution.
- When we start a business, basic productivity tools can be handy. However, if those basic tools put limits on your market expansion and ability to grow on a global scale, it’s time to bring in a better ERP system that supports growth.
- If you’re using disparate systems to manage your business, it’s time for a change. The reason being as technology changes it becomes difficult for IT to manage systems. For instance, new accounting software may show compatibility issues with the old HR system. There will be significant wastage of time and resources while trying to stitch a solution together.
- You need to give your staff the tools they need to succeed and meet customer expectations. Old technology stacks hold them back.
What is Microsoft Dynamics 365 ERP?
Microsoft Dynamics 365 is an intelligent business application that goes beyond the traditional ERP systems. It eliminates data silos and improves decision making leveraging real-time data and actionable insights.
Microsoft Dynamics 365 ERP isn’t just a software that offers data connectivity. Rather, it is a suite of cloud business management tools that not only connects all your data but also delivers actionable insights that help stakeholders to optimize business processes across the entire organization.
Key features of Microsoft Dynamics 365 ERP
- Dynamics 365 for Financials natively handles foreign exchange and allows you to manage multiple legal entities with a single software.
- Organizations can monitor their financial performance in real time and drive growth by making data-driven decisions.
- Dynamics 365 financial management suite comes with an intelligent budget proposal feature that leverages historical data to create an accurate budget proposal.
- Leveraging in-depth financial reporting capabilities, Microsoft Dynamics 365 ERP helps in closing books faster. Native support for multiple legal entities and currencies simplifies financial management.
- Dynamics 365 ERP comes with a powerful rules-based chart of accounts and no-code/low-code globalization services. These powerful capabilities simplify tax determination and calculation, electronic invoicing, regulatory reporting, business documents, and global payments.
- Dynamics 365 ERP helps in the global expansion and compliance of your business by supporting 44 countries and 52 languages.
Microsoft Dynamics 365 ERP Wave Updates
Apart from several benefits stated above, Microsoft rolls out two major releases every year. These are known as “Wave” releases. These biannual updates come packed with new features and functionalities. However, customers need to understand that a robust testing plan is needed not only for successful Dynamics 365 implementation but also for updates adoption.
Without proper testing, there is a risk of ERP adoption failure during implementation and business description during updates. To address these challenges, you need to bring in a robust testing strategy. Since manual testing isn’t a viable solution anymore, you need to bring in a test automation platform that offers end -to-end coverage for your Dynamics 365 technology stack.
Rahul is an accomplished technical content writer and editor with over 8 years of experience in the industry. With a keen eye for detail and a deep understanding of complex technical concepts, John has successfully crafted engaging and informative content for a wide range of audiences. His expertise lies in translating intricate technical jargon into easily digestible content that resonates with readers. Throughout his career, Rahul has worked with leading technology companies, helping them communicate their ideas effectively to their target audience.