How Microsoft Dynamics 365 Finance Can Make Your Business More Efficient In The Current Climate
by Campbell McLeish on
Due to an unstable economic situation caused by COVID-19, it’s now more important than ever to ensure your financial processes are as efficient as they can be. Fortunately, Microsoft Dynamics 365 Finance can help your business achieve exactly that.
By harnessing the power of artificial intelligence (AI), Microsoft Dynamics 365 Finance helps businesses cut down on manual processes, gain access to intuitive recommendations, and reduce the chance of human errors - so you can focus on what really makes a difference.
In this article, we take a look at Microsoft Dynamics 365 Finance in further detail and explore how it can make an impact for your business during the current climate.
Minimise operational expenses
Since Microsoft Dynamics 365 Finance integrates with multiple data sources, you can quickly gain an insight into every part of your finances, giving a clear view of your business. With budget control, financial process automation, and analysis features, operating your business with Microsoft Dynamics 365 Finance becomes a whole lot easier.
Combine financial processes
Bringing both your financial data and processes into one platform serves many benefits to your business. Microsoft Dynamics 365 Finance does this extremely well, allowing your business to:
- Easily adapt to changing requirements – Customising documents as and when you need to is crucial for an efficient operation, especially with the current climate. Thanks to Microsoft Dynamics 365 Finance’s integration with Microsoft Office 365, you can easily adapt invoices and statements to ensure alignment with any business changes.
- Boost productivity – Using predictive insights and role-based workspaces, you can set priorities as well as automate financial tasks. Not only does this help boost productivity, but frees up valuable time across your team.
- Benefit from a subscription-based economy – This refers to the shift many companies are making towards a business model that involves recurring billing. Microsoft Dynamics 365 Finance includes automated billing capabilities, allowing your business to adapt to revenue recognition standards, reduce audit costs, and accurately calculate and report on your financial statements.
Make better financial decisions
During a time of uncertainty, poor financial decisions can be damaging for your business. Fortunately, Microsoft Dynamics 365 Finance offers the functionality needed to make informed financial decisions to keep your business running smoothly. how:
- Accurate cash flow projections – Available inside Microsoft Dynamics 365 Finance, you can customise cash flow forecasting capabilities to help identify trends and monitor cash flow in real-time.
- Reliable customer payments predictions – Using AI-driven insights, you can better predict customer payment times. For instance, as you begin to understand if and when certain invoices will be paid, you can proactively reduce write-offs to improve profit margins.
- Spend less time budgeting – Consolidating and analysing historical data is time consuming. So why not let Dynamics 365 Finance perform this for you? You’ll then be able to spend less time budgeting and more time on tasks that will bring greater value to your business.
Step towards business efficiency with Nolan Business Solutions
Is the current economic climate negatively effecting the efficiency of your business? If so, get in touch with Nolan Business Solutions today to see how we can help. As Gold ERP Microsoft partners, we have the knowledge and experience needed to provide the very best solution for your requirements, guiding you through each step of the way.