At its core, the optimisation of financial processes often involves several key elements: Creating well-defined divisions of labour within and between functions and implementing effective management protocols to ensure repeatable and scalable workflows without bottlenecks. To achieve this, businesses can leverage Dynamics 365 Business Central, an ERP and CRM software-as-a-service solution designed specifically for small and mid-sized enterprises.
With a < 1-year payback time, it is tailor-made for small and mid-sized businesses. It aims to optimise finance processes, boost productivity, and foster business growth through its array of integrated features and functionalities. Over the past three years, SMBs have experienced a 162% ROI with Dynamics 365 Business Central.
What problems does Microsoft Dynamics 365 Business Central solve?
Business Central tackles the pain points of systems like Wave, Xero, Sage, and QuickBooks:
Revamping inadequate accounting solutions
Facilitating simplified and efficient financial reporting
Integrating various business systems for seamless alignment
Providing a secure, cloud-based platform for enhanced data protection.
Streamlining operations by minimising manual processes
How does Business Central optimise your financial processes
It goes without saying: It is impossible to focus and optimise everything at once – it will be far too expensive – Microsoft BC has been carefully created with this knowledge and an eye for effort versus return.
1. Easily synchronise company records and data
The simple synchronisation of business data and records made possible by Microsoft Business Central results in improved financial procedures. The platform allows smooth communication across many organisational activities by combining modules like Financials and Operations, Sales Professionals, and Marketing. Real-time information flow is made possible by this synchronisation, reducing delays and mistakes.
2. Automate recurring transactions
With the help of Business Central, you can automate regular processes like payments, purchase orders, and invoicing. By doing away with manual entry, this function decreases mistakes and saves time. You may also create reminders for forthcoming payments when you automate these transactions, ensuring that you never forget a payment's due date.
3. Increase global market share
The extensive features and capabilities of Microsoft Business Central allow companies to grow in the worldwide market effectively. Business Central offers support for different currencies, exchange rates, consolidations, intercompany transactions, and localised tax in more than 130 countries and regions. The platform streamlines financial operations, promotes development, and boosts competitiveness in the worldwide market by offering solutions to handle inventories, finances, compliance, and foreign transactions.
4. Budgeting and forecasting
You can make use of forecasting and budgeting tools on Microsoft BC to monitor and foresee your financial performance. By generating a budget and financial predictions, you may make informed decisions about how to distribute funds and set up strategies. Additionally, by comparing your actual financials to your expected sums, Business Central enables you to make modifications as needed.
5. Implement cost accounting
The cost accounting capabilities of Business Central enable precise tracking of expenses linked to particular products or projects. This valuable information aids in evaluating the profitability of different ventures, empowering businesses to make well-informed decisions regarding pricing, production, and resource allocation. Moreover, the insights from cost accounting facilitate the identification of potential cost-saving opportunities, leading to enhanced overall profitability.
6. Maximise financial visibility
By combining data, providing real-time insights, and automating activities, Microsoft BC improves financial visibility. Businesses can make informed decisions, increase financial performance, and maintain competitiveness in their specific markets thanks to the optimisation of financial processes. To obtain real-time cash flow, trace financial trends, examine patterns, and enhance company planning, use built-in reports, Excel, Microsoft Power BI, and infinite data dimensions.
How can I implement Microsoft Dynamics 365 Business Central in my business?
To begin implementing Microsoft Dynamics 365 Business Central, book a chat with a partner like On Point. We can look into your current systems, processes, and requirements to see how we can best suit your needs with Business Central.