Maximizing the Benefits of Business Central Across Departments
Technologies used in businesses evolve quickly, and companies must adapt to these changes to stay competitive. Instead of using multiple software or systems for different departments, organizations that pay attention to their efficiencies use solutions that integrate various aspects of their operations into one platform.
One solution is Microsoft Dynamics 365 Business Central, which combines sales, finance, operations, and service into a single cohesive system.
Introduction to Business Central for Diverse DepartmentsÂ
Microsoft Dynamics 365 Business Central is an enterprise resource planning (ERP) system developed by Microsoft. Formerly known as Dynamics NAV and before that, Navision, Business Central was released in 2018. It is incredibly flexible and can be customized for any business need. The system delivers cloud-based management of sales, operations, customer service, and finances.Â
Features of Business Central
Microsoft Business Central has many features to help you manage various aspects of your business:Â
- Supply chain management:Â The ERP allows you to manage your production, inventory, and distribution processes. The system ensures you always have the right type and number of products in stock.Â
- Reporting and analytics:Â The system offers powerful reporting and analytics tools that allow you or your team to gain insights into business performance and make data-driven decisions.Â
- Financial management: Business Central has features that simplify accounting management. Accounting features include accounts payable and receivable, invoicing, and cash flow management.Â
- Sales and service management:Â Business Central has the tools for managing sales and customer service processes, including service management, customer relationship management (CRM), and order management.
Business Central BenefitsÂ
To understand how this cloud-based ERP system can transform your business, let’s explore some of its main benefits.
Integrations for Seamless Operations
Many businesses have to rely on multiple software for different functions in various departments. For example, they could use one system for human resource management and another for accounting, along with a third system for supply chain management. The more the departments or functions, the more the systems are needed.Â
Microsoft 365 Business Central solves the problem of dealing with multiple systems or software by integrating all functions into one unified ERP system. You will not have to buy Business Central for customer service and a different system for accounting or warehouse management — it has all the solutions you need. The integrations ensure that all your departments are aligned and work efficiently.
The integrations also enhance collaborations across departments and real-time insights, allowing you to make informed decisions quickly. Everyone in the company who has access to the system can use the same data. Business Central also seamlessly integrates with other Microsoft products like Microsoft Teams and Office 365. You can accomplish many tasks in Microsoft Teams without logging in to Business Central.
Cost Savings Across Departments
As a small or midsize business looking to minimize expenses, you can save costs across departments with Business Central by reducing the number of systems or tools needed for each department. As a cloud-based solution, it has low infrastructure investment and low upgrade or maintenance costs. You won’t need servers and similar dedicated IT resources to run Business Central in your company. No large upfront payment is required because the system licensing is subscription-based.
The monthly payment is predictable and billed according to the number of users. This means you can pay for only what you need, and you can adapt or scale with your growing business.Â
Enhanced Data Security
This cloud-based ERP system has inbuilt security features that allow for enterprise-level security. The business data is backed up and secured in the cloud. You can further safeguard the security of your data by implementing features such as authentication, authorization, auditing, and data encryption. Departments can share data and insights confidently, knowing they are secure.Â
Business Central also comes with features that ensure your business is compliant. If you operate in multiple countries, Business Central allows you to adjust settings, and the data is stored and collected in accordance with local laws. In addition, Business Central supports multiple accounting standards, including GAAP and IFRS, ensuring you comply with country-specific accounting requirements. The system also supports document management solutions.Â
Powerful Scalability and Flexibility
One of the main challenges for organizations using multiple systems for different departments is aligning them when they’re growing at different rates. This is not a problem when you have one system that runs all departments. It’s easy to scale the system up and down depending on business changes, and you can add new features and functionalities as the business grows.
The ERP is highly flexible and can be customized to meet specific business needs. You can create custom workflows, add new modules, and integrate with other applications to ensure the solution meets your business needs. The per-user per-month structure allows you to start small and adapt Business Central solutions as the business expands. You can also run your business from anywhere.
Simplified Project Management
Dynamic 365 Business Central offers features for managing your projects and allows you to deliver on time. You can create, manage, and track projects using tools like timesheets and advanced job costing. Additional Business Central features for managers include reporting and AI capabilities, which are useful for project management.
Streamlined Analytics and Reporting Capabilities
Business Central has built-in AI capabilities to facilitate intelligent decision-making in your business. Examples of AI-powered functionalities are payment predictors and cash flow forecasting features.
The payment predictor feature lets you know if a payment will be late so you can plan accordingly. You can also integrate the ERP system with Microsoft’s Power BI analytics tool to create interactive visuals such as charts, dashboards, and graphs. These visuals are useful for analyzing important metrics and gathering actionable insights.Â
Optimized Supply Chain Management
Supply chain management is one of the most critical areas for any business involved in buying and selling goods. Business Central helps you improve the efficiency of your supply chain. The ERP has an efficient warehouse management system designed to optimize the use of space and resources. The warehouse system enables precise tracking of inventory levels and locations. It also tracks the movement of goods, minimizes waste, and maximizes space.
You can optimize the supply chain with the system’s predictive stock replenishment and create purchase orders automatically. These predictions and automation are based on sales forecasts and expected stockouts. Â
Crafting a Future-Proof Business with ArcherPoint and Business Central
Business Central is changing how companies operate by boosting efficiencies, improving collaborations, and helping managers make informed decisions. As a Certified Microsoft Dynamics Solutions Partner, we can help you implement Business Central and enjoy the benefits of the ERP system.
Contact us today to elevate your business operations with ArcherPoint. We will help you implement Business Central across your departments.Â