Dynamics 365 Business Central Overview Part 1

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.

Microsoft Dynamics 365 Business Central enables customers to upgrade their entry-level accounting software and legacy ERP systems with a single, comprehensive solution to manage finances, operations, sales and customer service. It is a cloud-based, all-in-one business management solution that helps organisations streamline business processes, improve customer interactions and enable growth.

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.

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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