Microsoft Dynamic 365 for Finance: Capabilities and Implementation
What Is Dynamics 365 Finance?
Microsoft Dynamics 365 Finance is a cloud-based enterprise level business application for accounting and financial management. Built for global scalability and backed by AI and automation, Dynamics 365 Finance provides valuable real-time insights to help propel your organization forward. Dynamics 365 Finance offers a secure, intuitive, and impactful financial management system to help your business make projections and data-driven decisions.
Dynamics 365 Finance is a dependable and robust choice for large companies. In addition to covering all your finance, accounting and budgeting needs Dynamics 365 Finance gives your business a modern platform for easier integration to other Microsoft business applications, easier and more predictable updates, the ability to scale up or down and the security and stability of the Microsoft cloud.
Is "Dynamics 365 Finance & Operations" now "Dynamics 365 Finance"?
You might hear this product by many names: Dynamics 365 Finance & Operations, FinOps, F&O and now Dynamics 365 Finance and Supply Chain. No matter what you hear, folks are referring to the same product. The only difference now is that it was previously licensed as one product and now it is licensed as two different business applications. Now they may be purchased together or separately, giving you even more flexibility with your Dynamics solution.
Dynamics 365 Finance focuses on accounting, budgeting and financials, whereas Dynamics 365 Supply Chain Management (Operations) handles manufacturing, warehousing, and distribution.
Dynamics 365 Finance vs Dynamics AX: What are the differences?
Dynamics AX is the legacy on-premises predecessor to Dynamics 365 Finance and Operations. Dynamics 365 Finance is Microsoft’s modern cloud-based solution. Dynamics 365 Finance has all the capabilities of Dynamics AX and much more.
In addition to added functionality, D365 Finance’s cloud-based platform allows stronger integration capabilities than it’s predecessor Dynamics AX. Integrate data from everyday business solutions like Office, Excel, Sales, and more with Finance. Plus, the Power BI integration allows you to generate and embed tailored visual reports with ease. With Power BI reports and dashboards, your team can make informed decisions that impact your budget and bottom line. The cloud platform for D365 Finance requires less onsite infrastructure to operate then Dynamics AX and have a simpler update process than the older Dynamics AX solution.
Many companies currently using Dynamics AX are planning upgrades to Dynamics 365 Finance to take advantage of al the functionality, remote capabilities, and connected systems.
Upgrading to Dynamics 365 Finance
The Dynamics AX lifecycle is coming to an end, and Microsoft mainstream support for Dynamics AX 2012 has expired. This means many businesses are planning their switch to Dynamics 365. Upgrading from Dynamics AX to D365 Finance is a specialty at Stoneridge Software and we’ve developed the resources and process to get it done right. View more resources for why to upgrade and how to plan your Dynamics AX Upgrade project here. Here are some benefits of upgrading:
Data Security
Moving from on-premises to the cloud offers increased data security. On-premises servers are more prone to data breaches than the cloud.
Predictable and Consistent Costs
Dynamics 365 Finance has more predictable and consistent costs than Dynamics AX. Dynamics AX typically has higher maintenance and infrastructure costs than Finance.
New Functionality
Many businesses are taking advantage of the new features found in Dynamics 365 Supply Chain. New features and enhancement are added with each major and minor release throughout the year.
Integrations
Integrate data from your Dynamics 365 and Office 365 solutions.
Insights from Machine Learning and AI
AI-powered tools like Microsoft Copilot and natural language processing are a powerful option to use in all of your Dynamics 365 systems.
Microsoft Dynamics 365 Finance: Capabilities
Institute Better Financial decision making
Create accurate cash flow forecasts with AI-backed insights. Accurately predict customer payments and take proactive measures. Streamline financial management and complete period-end processes more quickly.
Create Intelligent Budget Proposals
Generate budgets from historical data, future forecasts, and what-if analyses to create more accurate forecasts.
Increase Productivity with Automated Processes
Automate mundane tasks and focus your efforts in a more thoughtful way. Office 365 integrations and role-based workspaces make it easy to accomplish priority tasks. Automatically send vendor invoices, manage credit and collections.
Reduce Global Finance Complexity and Risk
Built to be a global application, utilize financial reporting that supports foreign exchange and a wide variety of currencies and limit the need for system customization. Meet both local and global needs and comply with local tax regulations.
Leverage Cross-Functional Collaboration
Integrate data across Dynamics 365 and Office 365/Microsoft 365. Connected Microsoft business applications create a central hub of information that allows for better collaboration and a single source of data for business intelligence.
Go Paperless
Simplify tax calculation and invoicing with fully electronic records.
What is Included in Dynamics 365 Finance?
Dynamics 365 Finance includes everything your accounting and finance department needs, like: Budgeting, financial reporting, invoicing, customer credit and collection management, task automation, tax compliance tools, and more.
Automate Business Processes with Dynamics 365 Finance
Automate routine tasks such as invoice processing to save on labor costs. Dynamics 365 Finance allows you to automatically submit invoices to workflow, and match vendor invoice lines to receipts. Focus your time and effort on tasks that will grow your business.
Dynamics 365 Finance Can Scale Your Business
Dynamics 365 Finance is designed to give you the tools needed to scale your business when you need them. Efficiently add new subsidiaries, product lines, and legal entities to Finance. Plus, Dynamics 365 itself is built to be a scalable solution. Subscription costs are determined on a per user, per month basis, meaning you can easily add or remove users from your system.
Why Partner with Stoneridge Software for Dynamics 365 Finance
At Stoneridge Software, not only do we have extensive experience implementing Dynamics 365 Finance across several industries, we wrote the book on successful Microsoft Dynamics 365 Implementations. As part of our proven process, Stoneridge Software works shoulder-to-shoulder with your team beginning with our pre-sales architects and project managers who set you up for success through each phase of the D365 Finance implementation process. We’ll see you through to a successful outcome and we’re here long after the go-live to support your system and help you reach your business goals.
Microsoft Dynamics 365 Services that Stoneridge Software Offers
Stoneridge is a one-stop shop for all your Microsoft Dynamics 365 services. We support the entire Microsoft Dynamics range of products in addition to Power Platform and Microsoft 365. We collaborate with you from before your project begins, to working with our pre-sales architects, to implementation, delivery, and support. We have a team of solution architects, business analysts, and functional and technical consultants. We provide you with ongoing education to help you win with Microsoft business solutions.
Dynamics 365 Finance Support
Stoneridge offers support for clients on all Microsoft Dynamics products, including Dynamics 365 Finance. You name it, our support team can help you. Our client services team is made up of seasoned resources who go far beyond just break-fix support. Along with everyday questions, and training our team has successfully unraveled intricate, complicated, highly escalated customer scenarios.
Dynamics 365 Finance Pricing
Microsoft offers transparent pricing available to view at any time. Find up-to-date Dynamics 365 Finance license pricing from Microsoft. Pricing information is for licenses only. If you are interested in implementing Dynamics 365 Supply Chain Management, Stoneridge Software can provide a quote for as little or as much help you need with implementation, training and support.
Am I Able to Demo or Trial Dynamics 365 Finance?
You can find access to Microsoft Dynamics 365 Finanace demos and trials on Microsoft’s site. But, even better, if you’re wondering how to fully realize the solution, Stoneridge Software is a go-to resource to show you how you could visualize this product at your business to increase efficiency and customer service – from the basics to eye opening possibilities. We’d love to chat about the possibilities and vision for your business.
Dynamics 365 Finance Training
At Stoneridge Software Dynamics 365 Finance training is an integral part of our implementation and delivery process. Intentional teaching is a part of our mission. Not only do we provide training for Dynamics 365 Finance users during a project, but we also continually offer educational opportunities throughout the year with weekly webinars, daily blog posts and an annual Stoneridge Connect event for our client community and beyond.
Dynamics 365 Finance Resources
Sharing knowledge and providing learning opportunities is part of the Stoneridge culture. We have many educational resources for Dynamics products, including our blog, events, Confab livestreams, and the Mastering Microsoft Dynamics Implementations book. Checkout our YouTube channel for a wide range of videos.
Dynamics 365
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Finance & Supply Chain in focus
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