The Enterprise Resource Planning (ERP) market is growing at a rate of 10-20% every year, and it is expected to reach $78.4 Billion by 2026 at a CAGR of 10.2%.
ERP allows an organization to manage and integrate financials, supply chain, operations, reporting, manufacturing, and human resource activities. More than 53% of businesses trust ERP as one of their priority investments since the ERP systems provides the transparency needed for any company in the entire business process by tracking every aspect from production or distribution, financials, to back office. Having an ERP system provides businesses with cohesiveness, which is essential to bring all the activities from the beginning to the end of all business processes and reduce operational and administrative costs by more than 20%. With its rich capabilities, ERP systems prove to be a better solution and aids in the overall growth for companies.
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What Is Microsoft Dynamics ERP, And Why Do You Need It?
Businesses strive to ensure a future-proof business while facing many trials to find new ways to reinvent their organization. But, Microsoft Dynamics 365 brings the best of what enterprise resource planning has to offer for a business. So, what is Microsoft Dynamics ERP?
Dynamics ERP is an integrated, flexible and customizable, business management system. That comes with extensive rich capabilities, including data and intelligence. Microsoft Dynamics ERP software will work best for organizations to optimize and discover business opportunities. The Microsoft Dynamics ERP offers dashboards that give you an overview of your finances, access to real-time information anytime and anywhere, and manage company data and streamline employee management tasks such as payroll, hiring, and other duties. Dynamics ERP helps companies improve business communication, automates daily processes, and offers you the ability to fulfill customer requirements and manage resources by accessing real-time data. Here is a list of benefits that Dynamics ERP comes with –
10 Benefits of Microsoft Dynamics ERP Solution
- Seamless Integration Options: All the Dynamics 365 suite of solutions integrates with other Microsoft programs easily to improve productivity.
- Immediate Accessibility: Since the ERP solution is cloud-based, users can access accurate data at any time from anywhere on any device.
- Scalable Technology: All the Microsoft Dynamics 365 solutions are simple to customize, integrate and scale up or down based on the business requirement.
- Improved Customer Service: One of the primary benefits of Dynamics ERP is it helps you provide exceptional customer service, ensure customer loyalty, and benefit the company’s growth.
- Simplified Processes: Microsoft Dynamics ERP speeds up the business processes. This does save not only time and cost but also reduces errors.
- Better Agility: The Dynamics ERP helps you close your books faster, deliver robust reporting, and increase profitability with precise business intelligence.
- Frequently Enhanced Functionalities: Microsoft brings the Dynamics suite of solutions with new features and enhanced functionalities to their solutions with an increased focus on the cloud.
- AI-Powered solution: Dynamics ERP functionalities combine with AI to offer smooth operations in inventory management, report generation, accounting, and various businesses.
- Predictive Analytics: Dynamics 365 with its built-in predictive analytics capabilities to ensure you have access to accurate business data and offers insights to ensure informed decision making.
- Compliance: Microsoft follows strict guidelines to ensure all compliance laws with a single regulatory configuration format that can be used across Microsoft Dynamics 365 ERP versions.
The Major Microsoft Dynamics ERP Products
Microsoft Dynamics ERP has multiple products like Dynamics AX, Dynamics GP, Dynamics SL, and Dynamics NAV. Dynamics AX is rebranded as Dynamics 365 for Finance and Operations, and other products like Dynamics NAV, Dynamics GP, and Dynamics SL are unified in the form of Dynamics 365 Business Central.
Microsoft Dynamics 365 for Finance and Operations
Microsoft Dynamics 365 for Finance makes reporting, invoicing, selling, predictive operations, and ordering easier and faster through the scalable database and flexible applications. Dynamics ERP helps to manage growth and adapt to change a lot easier. This ERP system is an excellent solution for the retail industry, manufacturing industry, professional services providers, and public administration offices. The major benefits of using this solution as an ERP system include key features such as scalability, flexibility, internationality, and transparency.
Microsoft Dynamics 365 Business Central
Microsoft Dynamics 365 Business Central is an all-in-one business management solution that brings rich and sophisticated functionalities with cloud flexibility. It includes a range of capabilities across project management, service, sales, marketing, financial, supply chain, operations, and inventory management, along with Predictive analytics capabilities and real-time visibility to support companies to make informed data-driven decisions. This ERP comes with capabilities like simplicity, cost-effectiveness, and flexibility to suit small and medium-sized companies.
Know more about Microsoft Dynamics ERP
To conclude, Dynamics 365 for Finance and Operations and Dynamics 365 Business Central are the major ERP products of Microsoft Dynamics. Though Dynamics 365 solution is the right ERP software for anyone with its extensive and rich features, implementing the same is complex. However, if you find that Dynamics ERP is the right solution for your company, you can explore how it can help your company.
Did you know 87% of companies seek guidance for ERP implementation on the whole?
If you need guidance and explore more about Dynamics ERP capabilities and how they can transform your business, talk to us!!