Microsoft has just published a great ebook, Beyond the basics Making Microsoft Dynamics 365 Business Central your business management solution. If you’re thinking about taking your business to the next level of growth and efficiency, you might find the book to be a good resource. It offers a perspective on an issue that we run into quite often with our clients: At some point, a business leader needs to figure out whether she or he wants to keep doing what they’ve always done or ask themselves if it’s time to make a change.
This can be a tricky moment. In a lot of cases, there’s nothing particularly wrong with the way things are going in a business. It could be growing and making money, so why not leave things alone? And, as we see in our practice, sometimes leaving things alone is absolutely the right move! Other times, though, even a seemingly well-run business has room for improvement.
In particular, there can be opportunities to make better use of business software. Modern businesses are recognizing that digitization is essential for competitive strength and profitable operations. In parallel, they’re seeing that the old labels—and implied limitations—on software programs no longer apply. Accounting software is not just accounting software anymore. With Microsoft Dynamics 365 Business Central, for example, the solution is nothing less than a complete business management platform.
Is it time for a change in how you view and use your accounting software? As the ebook notes, when it comes to your accounting software, there are four basic options: You can do nothing, hire more people, find a new solution or expand your tools. Within Dynamics 365 Business Central, you’ll find many opportunities to expand your tools.
Dynamics 365 Business Central comprises a cloud-based, connected solution that combines financial and operational management. It can be the vehicle for making the changes you want to see happen in your business. To understand how this might work, consider the five functional areas of the software:
- Financial Management—Offers full accounting capabilities, including accounts receivable and payable, bank reconciliation, fixed asset management and closing statements for months and years.
- Inventory Management—Includes inventory forecasting, inventory control, shipment and distribution management along with returns and cancellations.
- Project Management—Encompasses capacity planning, project budgeting and estimating, job and process costing and resource management.
- Purchasing—Spans procurement, purchase line discounting, purchase order management and vendor management.
- Sales—Starts with quote generation and continues through contact management, sales invoicing and payment processing.
It’s a unified solution. This means you don’t have to toggle back and forth between accounting and other business management systems. The different parts of the solution are integrated. They work together to help you manage your business better. And, they provide the data you need to analyze how you’re doing. Microsoft BI tools also work well with the Dynamics portfolio.
The ebook is definitely worth a look. In the meantime, we can work with you on assessing how Microsoft Dynamics 365 Business Central can help you make needed changes in the way your do things in your business. Contact us for a free consultation and demo.