with Microsoft Dynamics 365 for finance and operations for greater agility.
In the digital world, it’s not just the CIOs but also the CFOs who are responsible for driving strategic growth through innovation. As systems start to get more disparate and the workforce becomes remote, CFOs have to adapt to become more agile and align all stakeholders to common business goals. The answer lies in digital transformation through robust cloud solutions like Microsoft Dynamics 365 for finance and operations that allow for inventive and collaborative work in finance and operations.
Read how we helped a manufacturing and distribution company in implementing Microsoft Dynamics 365 finance and operations during the pandemic, and keeping the delivery paramount while staying within the client’s budget.
As a Microsoft Gold Certified Partner, Korcomptenz gives you a competitive advantage with Microsoft Dynamics 365 for finance and operations. We help you unify and automate your financial processes, reduce operational expenses, decrease global financial complexity and risk, and drive strategic financial decisions with AI. If you are already using Dynamics 365 AX, click below to start your upgrade or reimplementation journey for Dynamics AX 2009 or Dynamics AX 2012 now. So, why wait? Visit us to gain expertise in Dynamics 365 finance and operations now!
Embark on Migrating to the Cloud Journey with our unique delivery methodology
Embark on Migrating to the Cloud Journey with our unique delivery methodology
Data security in Microsoft Dynamics 365 for Finance and Operations is ensured through role-based access control, data segregation, user authentication, data encryption, audit trails, secure development practices, physical security measures at data centers, data backups, and disaster recovery protocols. These measures collectively protect sensitive information and ensure a secure environment for users and organizations.
Dynamics 365 Finance and Operations follows a role-based security model. Each user has specific roles for data and function access, ensuring data security and privacy.
Data Segregation: D365 Finance and Operations allows for data segregation, ensuring that users can only access data related to their business unit or legal entity.
User Authentication and Authorization: The finance and operations platform supports different authentication methods, such as Azure Active Directory (Azure AD) integration, which provides robust user authentication.
Data Encryption: D365 Finance and Operations may utilize data encryption to protect sensitive information.
Audit Trails: The Dynamics 365 system maintains detailed audit trails, recording actions performed by users, such as data modifications, access attempts, or security-related events.
Secure Development Practices: Regular security updates and patches are released to address vulnerabilities and ensure a secure environment.
Data Backups and Disaster Recovery: Regular data backups are performed to safeguard against data loss in Microsoft Dynamics 365 for Finance and Operations.
Extensible Data Security (XDS) Policies: In Dynamics 365 Finance and Operations provide a powerful mechanism to control and restrict data access based on specific user roles and permissions. With XDS policies, organizations can fine-tune data visibility by defining rules that filter sensitive information at the data level, ensuring that users only see the data relevant to their roles. This capability is particularly valuable in complex environments where different teams or departments require varying degrees of access to maintain data integrity, security, and compliance. XDS policies offer a versatile solution to customize data access, enhancing data protection and minimizing the risk of unauthorized exposure.
Copilot in Microsoft Dynamics 365 for Finance and Operations is an innovative tool that offers a range of benefits to enhance user efficiency and productivity. Some key advantages of using Copilot include:
Natural Language Interaction: Copilot enables users to interact with the system using natural language, making it easier to perform tasks, ask questions, and get insights without needing to navigate through complex menus in D365 finance and operations.
Faster Navigation: Users can quickly navigate to specific forms, pages, or data by simply typing or speaking commands, reducing the time spent searching for information.
Efficient Task Execution: Copilot suggests relevant actions based on context, allowing users to complete tasks more efficiently and accurately.
Data Exploration: Users can retrieve and analyze data using conversational queries, making it simpler to gather insights and make informed decisions.
Assistance and Guidance: Copilot provides guidance and suggestions as users work, helping them find relevant information and perform tasks correctly.
Learning and Training: New users can benefit from Copilot’s guidance and tips to learn the system faster and become proficient more quickly.
Personalization: Copilot adapts to users’ preferences and behavior, offering personalized suggestions and recommendations.
Reduced Complexity: Complex system features become more accessible through Copilot’s intuitive and conversational interface.
Increased Productivity: By streamlining interactions and offering quick access to information, Copilot enhances user productivity and reduces manual effort.
Yes, the user experience of Microsoft Dynamics 365 for Finance and Operations (F&O) is generally considered better than its predecessor, AX (Microsoft Dynamics AX). Dynamics 365 F&O has undergone significant improvements in terms of user interface design, responsiveness, and overall usability.
The user experience is more modern and intuitive, making it easier for users to navigate, access information, and perform tasks efficiently. Additionally, D365 Finance and Operations leverages cloud-based technology, offering enhanced flexibility and accessibility, further contributing to an improved user experience.
In Dynamics 365 Finance and Operations, the user interface (UI) comprises several key elements that facilitate intuitive navigation and interaction. These include:
Navigation Pane: The primary menu on the left side of the screen provides access to different modules, workspaces, and tasks.
Ribbon: A contextual toolbar at the top of the screen that displays relevant commands and actions based on the selected context.
Workspace: Customized work areas designed for specific roles, containing relevant data, reports, and tasks.
Tiles: Visual shortcuts to frequently used tasks, forms, or reports, accessible from the workspace or dashboard.
List and Grid Views: Displays of data in tabular format, often used for records like transactions or master data.
Form Views: Detailed screens showing specific records, such as customer or vendor details, with fields for data entry and management.
Action Panes: Context-sensitive panels that provide additional options and actions related to the selected record or task.
Search Functionality: Tools to quickly find records, forms, or reports by entering keywords or criteria.
Reports and Dashboards: Visualizations and analytics presenting data insights in a user-friendly format.
Help and Support: Access to user guides, contextual help, and resources for assistance and learning.
Microsoft Dynamics 365 for Finance and Operations (F&O) excels at handling complex financial reporting and compliance to ensure accurate and timely financial insights through the following features:
Flexible Financial Reporting: D365 Finance and Operations provides a range of standard financial reports and also allows for the creation of custom reports using powerful reporting tools. This flexibility accommodates various reporting requirements based on industry standards and company-specific needs.
Consolidation and Intercompany Transactions: D365 Finance and Operations can handle the consolidation of financial data from multiple legal entities or subsidiaries. It efficiently manages intercompany transactions, ensuring accurate reporting and compliance across the organization.
Integration with General Ledger: Being an integral part of Dynamics 365 Finance and Operations, the General Ledger module maintains comprehensive and real-time financial data, serving as a reliable foundation for financial reporting and analysis.
Automated Workflows: The system supports automated workflows for financial processes, streamlining data collection, verification, and reporting. This automation reduces manual errors, enhances efficiency, and ensures data accuracy.
Compliance Features: Microsoft Dynamics 365 for Finance and Operations incorporates compliance features to adhere to various financial reporting regulations and standards, such as GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards).
Real-time Data and Analytics: With its cloud-based infrastructure, Dynamics 365 Finance and Operations provides real-time access to financial data and analytics. This ensures that decision-makers have up-to-date information for making accurate and informed financial decisions.
Auditing and Security Controls: Microsoft Dynamics 365 Finance and Operations includes robust auditing and security controls to track changes to financial data and ensure data integrity. This helps in maintaining a secure and transparent financial environment.
Currency and Multi-language Support: For organizations operating globally, D365 Finance and Operations handles multiple currencies and multi-language requirements, ensuring accurate financial insights across international operations.
Regulatory Updates and Support: Microsoft regularly provides updates and enhancements to ensure that Dynamics 365 Finance and Operations remains compliant with changing financial regulations and requirements.
Yes! Microsoft Dynamics 365 for Finance and Operations (F&O) offers robust capabilities to automate and optimize supply chain management processes, resulting in cost reduction and improved efficiency. With advanced features like inventory optimization, demand forecasting, and procurement automation, businesses can streamline their supply chain operations.
The system’s AI-driven insights enable better decision-making, while real-time visibility into inventory, production, and transportation enhances agility and responsiveness. By leveraging these tools, organizations can minimize excess inventory, reduce transportation costs, and improve order fulfillment timelines, leading to a more efficient and cost-effective supply chain management process.
Microsoft Dynamics 365 Supply Chain Management introduces a suite of eight distinct features designed to enhance manufacturing operations and drive efficiency across various aspects:
Automation Proficiencies: Leveraging automation capabilities, Dynamics 365 SCM optimizes manufacturing processes, warehouse management, and field service operations. This ensures seamless operations, minimized downtime, and resource availability.
IoT Support: Integration with advanced technologies like IoT, AI, and Mixed Reality empowers connected factories, enabling proactive shop floor and equipment management for improved uptime and quality.
Predictive Insights: Dynamic issue identification through predictive insights minimizes downtime and lowers maintenance costs, leading to enhanced product quality and customer satisfaction.
In-built Machine Learning: Integrated machine learning offers optimal inventory management recommendations, preventing overstocking or shortages and providing configurable guidance for effective material handling.
Field Service Integration: Collaboration with Dynamics 365 Field Service automates resource management, enhancing workforce, tool, and machine tracking, thereby streamlining operations and resource utilization.
Planning Optimization Add-In: Real-time production planning updates, considering changing factors, enable organizations to optimize planning processes, ensuring resource utilization and inventory management efficiency.
Asset Management Add-In: Predictive, corrective, and preventive maintenance activities through the Asset Management add-in extend equipment lifespan and improve performance.
Power BI Analytics: Integrating Power BI analytics enhances inbound and outbound processes, offering real-time insights into warehouse operations, inventory management, and manufacturing processes.
Currently Microsoft provides a direct upgrade path from Dynamics AX 2012 to Dynamics 365 Finance and Supply chain management, which essentially means that you can upgrade to Dynamics 365 Finance & Operations if you are on AX 2012 R2 or AX 2012 R3 and you are updated on the latest available cumulative update for your version.
“There’s no such thing as an overnight success” Although the general concept of this widely used quote is generally true, it doesn’t take 20 years to build a billion-dollar company anymore in the twenty first century.
Despite careful planning and execution, ERP projects can sometimes encounter challenges and veer off track. In such cases, an ERP rescue and implementation approach can help bring the project back on the right track.
