Microsoft Dynamics 365 Business Central Benefits and Limitations
As your business grows, it is important to confirm if the software you are using will handle the increase in transactions. If your system is continuously overwhelmed by the data or if you have to use multiple applications to manage your business, it is time to switch to Microsoft Dynamics 365.
The Microsoft Dynamics 365 Business Central is a business management solution that is available on-premise and in the cloud. It offers business entities a comprehensive solution that streamlines the various departments of a business, including sales, customer care, finance, and operations.
Benefits of Microsoft Dynamics 365 Business Central
1. Helps businesses make informed decisions
Many startups do not make it past the first year primarily because of delays in taking decisions that would have turned the company around. One of the benefits of Dynamics 365 Business Central is it helps businesses to be more organized. The business owner can easily identify when sales drop or if there is an unusual increase in demand for goods and services. Successful marketing strategies can be used based on real-time consolidated data.
2. In-depth reporting
Most of the decisions companies take are based on facts, or at least they are supposed to be. Company Directors and the board rely on the reports they receive to determine the direction and steps the company should take to boost productivity. With Microsoft Dynamics 365 Business Central, the reports can cover every aspect of the business, including cash flow, sales, and budgets.
It is easy to identify how much was spent marketing a product and the returns on investment. If the company risks having a cash flow problem, it can be detected early enough so that measures are taken to reduce costs until sales improve. Alternatively, the company can seek alternative sources of funding before it faces a cash flow problem.
3. Work from anywhere
When you use cloud-based Dynamics 365, you can access all company data from anywhere. Many business executives remain in the dark when they are travelling or away from the office. Microsoft Dynamics 365 facilitates easy access to company information. You can even make prompt decisions irrespective of your location.
4. Scalability properties
Many businesses find that they have to keep changing their applications as the business grows. This is because some of the software used cannot accommodate the changing face of the company. If, for example, your client base increases drastically, you may experience periods when the system does not respond to commands as effectively as it once did. This means you will be losing time and possibly money. Microsoft Dynamics 365 can accommodate the changes your business experiences without you adding any hardware.
5. Updates are automatic
Dynamics 365 has been designed to have automatic semi-annual updates. The continuous release cycle gives this software an edge the previously released Dynamics software which had complex upgrades that required weeks of planning with developers. The feature in the Dynamics 365has lead to faster access to new features, system stability and improved performance. Additionally, all users of this application are on the same version all the time.
Limitations of Microsoft Dynamics 365
1. It is still relatively new
The phrase “why fix what is not broken” is something some business people relate to when it comes to Dynamics 365. Some companies worry about moving from an established ERP system to a relatively new one that is still growing. The assumption is that a new system has bug problems. Many choose to hold back until they feel the system is safe enough to use.
2. Fear of things that could go wrong during upgrades
Customers using Dynamics AX and Dynamics NAV systems may be reluctant to move to Dynamics 365 because of the worry they may lose some of their data in the process. Even though these fears are not justified, companies with a massive volume of data often are resistant to change out of fear that things will go wrong.
3. The cost of transfer to a new ERP system
For years, businesses have invested in infrastructure to safeguard their data. These include servers, storage and backups. Companies may not be willing to spend their limited resources on alternative systems if what they have is currently working. Instead, they’d rather wait until it is necessary to invest in another system.
Some companies also worry about the time it will take to train employees. Dynamics 365 has an easy to use interface. If you have used other Dynamics applications, the system will be familiar and easy to use. However, workflow may slow down until the employees get used to it. Some companies fear the impact this period will have on employee productivity.
Even with the skeptism that comes when a new software is introduced in the market, the benefits of Dynamics 365 outweigh the limitations. So far, over one million consumers are using this applications to transform their businesses.
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