8 Benefits of Dynamics 365 Business Central for Your Business
Is Microsoft Dynamics 365 Business Central right for you? Discover the top benefits D365 Business Central offers small to medium-sized businesses.
If you are in the market for a business management solution, you may have heard of Microsoft’s cloud-based ERP solution, Dynamics 365 Business Central. Designed for small to mid-sized businesses, D365 Business Central lets you run your entire business from one unified solution. If you’re wondering whether it is right for your business, here is what you need to know.
What is Dynamics 365 Business Central?
Dynamics 365 Business Central is a cloud-based enterprise resource management (ERP) system from Microsoft. While it is an ERP solution, it also offers robust customer relationship management (CRM) capabilities. This means that you can accelerate your sales while also being able to optimize your supply chain, manage financials, and more.
Essentially, it offers a comprehensive all-in-one solution that can manage your entire business.
Part of the Dynamics 365 solutions, it can be used as a stand-alone application but also easily integrates with other Dynamics 365 applications when you decide to further scale your business.
It was originally known as Microsoft NAV which evolved into Business Central, which offers the flexibility of being hosted in the cloud, on-premises, or as a hybrid. The cloud version is more prevalent and offers ease-of-use, especially for small businesses.
Benefits of Dynamics 365 Business Central
What are some of the main business benefits of Dynamics 365 Business Central? We’ve rounded up the top 8 benefits to give you a better understanding of how the cloud version of this ERP solution could transform your business.
D365 Business Central Benefit #1: Low Cost of Ownership
As a small or mid-sized business looking to control your cash flow, Dynamics 365 Business Central helps you keep costs low. You can leverage all the benefits of cloud ERP, such as low infrastructure investment and no upgrade or maintenance costs. The subscription-based monthly fixed fee model means that you do not need a large upfront payment and your costs remain predictable. You will also not need servers, management, dedicated IT resources, and other costs to use Business Central, compared to other on-premises options. Finally, you can use Business Central right out of the box, which means you can get up and running in no time.
D365 Business Central Benefit #2: Offers a Single Source of Truth
Dynamics 365 Business Central will create a single source of truth for your company data across departments. This means your data is stored in a secure, primary location that will be constantly updated in real-time with the latest information. This allows everyone in the company to use the same data when making decisions or creating financial reports. You can also view data reports and analysis easily through built-in dashboards. By using connected data across finance, accounting, sales, purchasing, and inventory will help you make better business decisions, and facilitate business growth.
D365 Business Central Benefit #3: ERP Meets CRM in One Platform
While Business Central is an ERP solution, it also has capabilities to help you improve customer experiences and solidify relationships with your customers. The CRM features let you track customer interactions, and get insights on upsell, cross-sell, and renewal opportunities across your sales cycle. You can also create flexible pricing and discount structures for individual customers and groups. In terms of customer experience, you can easily address customer returns or after-sales issues, manage service requests, track repair details, and easily respond to inquiries, and more.
D365 Business Central Benefit #4: Warehouse and Supply Chain Management
Dynamics 365 Business Central is equipped with robust warehouse and supply chain management features. You can optimize your supply chain with predictive stock replenishment and automatically create purchase orders based on sales forecasts and expected stock-outs. You can also optimize your warehouse storage facilities and streamline receiving and storage by using templates to determine the best placement of items. Use real-time to better fulfill your orders and get intelligent recommendations on how to speed up shipments.
D365 Business Central Benefit #5: Flexible and Easy to Scale
A key advantage of Dynamics 365 Business Central is its flexibility. Thanks to cloud technology, your company data is easily accessible to you and your employees. This means you can virtually run your business from anywhere, regardless of location or device. In today’s day and age, where remote work is increasingly becoming the new normal, flexibility is key in keeping your business competitive. This flexibility also means that Business Central is easily scalable and lets you easily grow with ease as your business needs expand.
D365 Business Central Benefit #6: Simple Project Management
Besides financial, accounting, warehouse, and CRM capabilities, Dynamics 365 Business Central also offers features for managing your projects so you can deliver on time. You will be able to create, manage, and track projects using timesheets, advanced job costing, and reporting capabilities. You can also manage resource levels by planning capacity and sales. Finally, you’ll be able to get real-time insights on project status and other metrics to ensure profitability.
D365 Business Central Benefit #7: Seamless Integrations
If your business already uses other Microsoft business applications such as Office 365, you’ll be happy to know that Dynamics 365 Business Central seamlessly integrates with other Microsoft applications and product suites. Plus, it already comes built-in with Microsoft Power BI dashboards. You can also download and integrate apps or extensions from Microsoft AppSource or your Microsoft Dynamics Partner to further customize your solution and meet a unique business need.
D365 Business Central Benefit #8: Data Security and Compliance
Dynamics 365 Business Central can offer your business enterprise-level security. As a cloud solution, it already has in-built features to ensure your data is backed up and securely stored. Using numerous features such as authorization, authentication, data encryption, and auditing, you can further safeguard your application. Business Central also has features to ensure your business is compliant. If you are conducting business globally, Dynamics 365 Business Central lets users adjust settings, so their data is collected and stored in ways that comply with local laws.
Is Dynamics 365 Business Central Right for My Business?
Now that you have a high-level understanding of how Microsoft Dynamics 365 Business Central can help your company, you may be wondering if this solution is right for your business. Here are a couple of questions to help you decide:
Are you a small or mid-sized business?
Have you outgrown your accounting software?
Do you rely on manual methods or have multiple software systems?
Do you need a solution that is flexible and highly customizable?
Are you looking for better data security?
Dynamics 365 Business Central is designed for small to mid-sized businesses and can be right for you if you’re looking for an all-in-one solution to help you run your business.
Find the Right Dynamics Business Central Partner
If you are considering this solution for your business or just need more information, sign up for a free 1-day assessment with our team. Kwixand Solutions is a certified Microsoft Dynamics 365 Business Central Partner based in Vancouver, BC, Canada and can help you assess whether Dynamics 365 Business Central is right for you and what the process, costs, and timeline would be to implement it for your business.
Our team of experts have decades of experience with helping businesses select the right technology, solve their challenges, and help achieve their goals through digital transformation.
Learn More About Dynamics 365 Business Central
Looking for more information on D365 Business Central and how it can benefit your small or mid-sized business? We have rounded up our top resources to help you learn more about this cloud solution.
Intro to D365 Business Central
Exploring D365 Business Central Benefits
D365 Business Central vs. On-Premises