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What is Dynamics 365 for Finance and Operations?
One of the more common questions we receive is: what is Dynamics 365 for Finance and Operations? The short answer to that is simple. It is an enterprise resource planning system that offers complete and centralized visibility of your financial and operational processes. The long answer is much more complex as Finops is just one small part of a larger suite of interconnected modules in Dynamics 365. We here at Qatalys are going to try and tackle that longer answer for you today.
The core capabilities of Microsoft Dynamics for Finance and Operations revolve around financials, accounting, procurement, supply chain management, and project management. It offers a centralized location for stakeholders to analyze, compile, and interpret all their financial data. The module has support for multiple currencies allowing users to combine and analyze transaction data simultaneously across all your locations. Synchronization with the rest of Dynamics 365, website integrations, connecting to Power BI, and custom code can further push functionality, providing your organization with a truly unique ERP built specifically for you.
Most of the applications break down into four broad categories: financial management, human resources, commerce, and supply chain management. Let’s take a more detailed look.
Financial Management
This application set includes things like a general ledger, accounts payable and receivable, bank management, and other common tasks. Combined, this allows you to automatically process invoices, accurately project cash flow, and intelligently budget on the fly.
Supply Chain Management
Supply chain management is a very popular feature with a few of our customers. It’s easy to see why! This is a powerful suite of applications that allow you to manage assets, multiple warehouses, inventory, vendors, and transportation. For even additional functionality, many of our clients have opted to synchronize Dynamics 365 for Field Service with Finance and Operations to automate work orders and client invoicing.
Human Resources
Connecting operational data and people is paramount to optimizing workforce costs and employee experience. Dynamics 365 Human Resources can automate and increase insights in areas such as payroll, benefits, compliance, and leaves of absence.
Commerce
Formerly known as Dynamics 365 for Retail. Our last application set unifies back-office, in-store, and digital storefronts for customers in the retail space. Inside you will find all the tools you will need to streamline your business and adapt to emerging channels. Connect to your point of sales systems, use client analysis tools to provide truly personal engagements, and derive insights based on customer profiles and data pulled from other aspects of your business.
Conclusion
It’s difficult to encompass the full range of tasks that Dynamics 365 for Finance and Operations is capable of automating. Just as no two companies are the same, neither are any two ERP implementations. Each organization has unique capabilities and needs, and we here at Qatalys are here to help you find a solution that fits for you. For an assessment of your environment, feel free to call us at (972)-432-2882.
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