What Is Dynamics 365 Finance And Operations
Microsoft Dynamics 365 for Finance and Operations is a cloud-based enterprise resource planning (ERP) system that helps businesses manage their financial and operational processes. It is designed to streamline and automate financial, supply chain, manufacturing, retail, and other operations for medium to large organizations.
Dynamics 365 Finance and Operations provides tools for financial management, budgeting, accounts payable and receivable, asset management, and more. It also offers functionality for managing supply chain operations, including inventory and warehouse management, procurement, and logistics.
The system can be customized to meet the specific needs of different industries, such as manufacturing, retail, and distribution. It also integrates with other Microsoft products, such as Power BI for data visualization and reporting, and PowerApps for building custom applications.
Microsoft made the decision in 2020 to divide Dynamics 365 Finance and Operations into two separate applications: Dynamics 365 Finance and Dynamics 365 Supply Chain Management.
With Dynamics 365 Supply Chain Management, organizations can:
- Improve workforce performance, efficiency, and safety through intelligent guidance and recommendations.
- Streamline procurement processes and improve cost management by using vendor collaboration portals and linking to vendor catalogs.
- Gain end-to-end visibility into warehouse operations and optimize supply chain efficiency
- Effectively manage capacity and consumption of raw materials and improve overall equipment effectiveness
Dynamics 365 Finance and Operations enables real-time monitoring of a company’s financial performance, while utilizing AI to enhance financial operations. By automating repetitive tasks, organizations can save valuable time. Additionally, Dynamics 365 Finance and Operations offers other critical functions such as: