The Dynamics 365 Business Central covers access to the main features and capabilities of Dynamics NAV’s Finance and Operations Business Edition. The functionality applies by operational area – financial management, CRM, sales and logistics.
Access to the main functionalities comes standard with the Dynamics 365 Business Central Essential and Premium license, which also includes extended human resource and project management features. This post gives an overview of the financial and CRM capabilities.
Financial Management
Dynamics 365 Business Central features a range of financial management capabilities at the core of its ERP functionality, such as managing inventory costs, overseeing cash flows and departmental budgets, and preparing VAT reports.
Business Central makes auditing more intuitive by automatically assigning audit trails and descriptions for every transaction, which can be enhanced by adding transactional reason codes to ledger entries. Through business intelligence-enabled tools, ‘dimensions’ or tags can be assigned to entries for easy tracking and categorisation.
Most importantly, organisations can get a centralised view of all their data for financial analysis, as the application facilitates the collection of financial data from multiple companies, where bank statements can be imported and automatically reconciled. Businesses operating multiple bank accounts and multiple currencies can also create and manage accounts efficiently.
Relational Management (CRM)
While not a fully-fledged CRM solution, the CRM functionality of Business Central assists organisations to record and manage their business contacts, segment data for target marketing campaigns, and organise and optimise their sales by tracking leads and opportunities.
The easy integration with Dynamics 365 for Sales allows users to sync information such as inventory levels and sales orders with their customer-facing operations while offering an extended array of robust CRM features.
Supply Chain Management
Business Central’s supply chain management tools assist organisations to keep track of their supply chain cycle, from managing and tracking orders and overseeing inventory to product distribution. Businesses involved in logistics benefit from an accurate and up-to-date overview of the supply chain.
Warehouse management through Business Central can be implemented on several complexity levels, depending on how a business processes orders, and the volume of orders they receive. The stock reporting feature helps optimise warehousing management the moment inventory is received.
Human Resources
Business Central’s Human Capital Management features allow users to keep detailed employee records such as contacts, qualifications and contract information, as well as manage employee expenses and reimburse easily using the same method used to pay a vendor.
HR managers can group and track employee information according to factors such as experience, skill sets and training, using codes assigned to employee records. Similarly, employee absences can be logged, tracked, and tagged using reason codes.
Project Management
Dynamics 365 Business Central enables project managers to manage costs, schedule and plan projects based on resource availability, and monitor and analyse resource usage to inform project estimates.
The app features tools for core project management tasks such as configuring jobs, scheduling resources, managing budgets and monitoring progress, as well as jobs tracking. Timesheets allow users to track hours logged for both employees and equipment.
The easy integration with Dynamics 365 for Project Service Automation solves the comprehensive project management requirements needed in larger organisations.
Strategix can assist your organisation to evaluate your current Dynamics 365 solution, perform upgrades and maximise performance to fit your latest business requirements.
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