Digitalization has brought to life new financial and operating models across every industry. Yesterday the Central Bank of Kenya launched the Kenya Response Code standard 2023 which allows Kenyans to pay for goods and services by scanning a Quick Response Code ( QR), this continues to revolutionalize cashless payments with this significant step of digitalization of Kenya’s cash flow. Companies are pushed to make changes in their own financial and operational departments by integrating systems that transform their financial and operating models to keep up with the rapid digitization of industries.
Microsoft Dynamics 365
Dynamics 365 is an all-solution Enterprise Resource Planning (ERP) system that enables businesses to manage and automate finances and operations. Many consider the heart of Business Central to be its capabilities for managing finance targeting to increase performance, compliance, and automation. It provides a data-first solution to transform how you manage and track your business’s finances.
Benefits Of Using Dynamics 365 Business Central To Digitize Your Company’s Finances
Now that we have an idea of what Dynamics 365 Business Central is, let’s look at the various reasons why you should incorporate it into your business to help with your finances and operations.
1. Financial Budgeting And Planning
Microsoft Dynamics 365 has the ability to transform sales forecasts and budgets into tangible financial plans. This allows you to measure your Key Performance Indicators against forecasts and if your numbers differ from your budget plans, the system generates alerts thus minimizing overspending and any financial and operational waste within the business.
2. AI And Automation Capabilities
Dynamics 365 Business Central incorporates AI and automation capabilities that can help businesses automate routine tasks, reduce manual errors, and improve operational efficiency. For example, the system can automate workflows, generate automated reports, and provide intelligent insights into financial and operational data to help businesses make informed decisions.
3. Financial And Operational Reporting
Since Dynamics 365 is a data-first system that focuses on data visualization, it creates and customizes reports, graphs, and infographics to provide clear and streamlined reports to help teams clearly make decisions considering Key metrics. this allows you to see when issues arise in your business.
4. Tracking Finances Throughout The Company
Dynamics 365 supports and tracks in-company transactions, inventory costs, fixed assets, and close income statements through various departments this allows you to have a true picture of your company’s finances.
5. Tracks Key Performance Indicators
Dynamics 365 measures various KPIs that relate to your business’s goals such as cash cycle, income, and expenses, top customers by sale value, etc.Using the information gathered the system generates graphs this allows you to see how well your business is fairing on and you can also identify your weaknesses thus maximizing your business’s return on investment.
Conclusion
Microsoft Dynamics 365 Business Central helps businesses adapt quickly to changing market demands and drive rapid business growth by optimizing productivity and performance. Give Microsoft Dynamics 365 Business Central a chance today and see your business grow and expand to greater heights.
