Microsoft Dynamics 365 Business Central is not just another ERP. It is an end-to-end business management solution for B2B organizations. It integrates sales & marketing, customer service, finance, supply chain, operations, and manufacturing departments. It offers numerous benefits to a company if they implement Business Central.
Let’s look at the following Business Central’s capabilities as an integrated business-wide platform.
Dynamics 365 Business Central is often compared to accounting softwares for small business in the market. However, it has extensive capabilities as compared to them.
It helps in bank account management, reconciliation of incoming and outgoing transactions, bank statement reconciliations, and managing electronic transactions effectively.
It helps companies post general ledger through general journals. It can also help track a business’s progress compared to its budget in the general ledger.
It helps transact with clients and vendors in multiple currencies. It does so by setting up different locations as separate entities. It also helps companies manage compliance and tax-related regulations effectively across countries.
It helps a business forecast cash receipts, monitor disbursements, and track current liquid funds available. It helps track fixed-assets like acquisitions, depreciation, etc; allocate these to different projects or departments; and records maintenance and service expenses incurred for the fixed assets.
Read More – Benefits of business Central for financial Service Industry
Dynamics Business Central helps companies manage their contacts better and personalize communication with them. It also helps sales professionals prioritize their sales funnel by using in-built predictive analytics capabilities.
The prospects and the customers can be segmented based on various criteria, and the marketing team can run customized campaigns for each segment. D365 Business Central allows users to record all customer interactions across multiple touchpoints.
From a sales delivery perspective, it helps users in managing sales orders, creating customized invoices with flexible item price and discount structures for specific clients, for bulk invoicing related to bookings, and managing sales return order-related processes.
Business Central is an effective solution for demand forecasting and supply planning. It provides real-time insights about the SKUs across multiple locations. It helps stakeholders make critical data-driven decisions, quickly. It ensures that a fast-moving item is never out of stock and those not flying off the shelves are not overstocked. It enhances a company’s ability to meet market demands through accurate forecasting.
Its vendor management module helps companies make timely vendor payments, place orders, track vendor supplies, and other aspects.It is useful for purchase order management, purchase return order management, purchase invoice set-up, and item-wise discounting. All these transactions can be performed using different currencies.
Read More – How Business Central helps in Supply Chain Disruptions
A company can keep track of its resources accurately and allocate them as per project requirements using Microsoft Business Central. It can also help plan resource capacity and monitor resource usage across different projects.
It can manage different costing alternatives for various resources. The costs could be percentage-based, fixed costs, or an additional fixed charge.
It can also be of great help in job management wherein the users can track jobs usage and invoice the customers, depending upon whether it is a fixed-price job or time and materials job.
It allows users to create a job plan, access tasks, assign job ownership and raise customer invoices as per the pre-defined agreements. It also has a timesheet feature integrated with the service and project management module
A company can use Microsoft Business Central to assign personnel, prioritize tasks, escalate service-related issues, maintain service personnel details,and filter them according to their skillsets, availability, pricing, etc.
The company can also use it to record service agreement details, including the service contract agreement, response times, historical data of each customer, track all service items, and details about its pricing, warranties, etc.
Business Central enables users to set up, maintain, and monitor service prices. The users can access the complete history of the service orders and the corresponding quotes.
It helps organize the warehouse as per its layout and structure. It enables users to set up and maintain bins by considering the dimensions of racks, columns, and shelves.
It quickly creates lists of items to be shipped out of the warehouse as per the purchase orders. It can also do so for testing and quality control of the items being shipped into the warehouse.
It will help employees create warehouse instruction documents for sales, purchases, transfers, returns, and production order processes.
The users can create a list of sellable items, raw materials, subassemblies, and resources as an assembly bill of materials that make up a finished item. It helps create bills of materials and calculate standard costs. It can also help in capacity planning for each machine or production resource. It enables users to estimate the production capacity by providing demand visibility. Microsoft dynamics Business Central provides the business with a reliable and efficient way to maintain accurate inventory costs.
If you are looking for an end-to-end solution for your business, reach out to us at CCIT Services Pvt Ltd, to explore how Microsoft Dynamics 365 Business Central can be beneficial for your business.
CCIT Cloud (CocoonIT Services) is an expert Microsoft Cloud Solutions and Implementation Partner. Organisations around the globe, partner with CCIT to harness the full potential of Microsoft Dynamics, Azure Cloud and Power Platform.