What is Microsoft Dynamics 365 Business Central & What Does It Mean for My Business?
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Cloud Microsoft Dynamics 365 Business Central is a business management solution that's connecting people and processes like never before. Benefits: From day one it makes ordering, selling, invoicing and reporting easier and faster. Turn your multiple disconnected systems into one. Boost efficiency with automated tasks and workflows all from within familiar office tools like Outlook, Word & Excel. Get a complete picture of your business with built-in intelligence. With your business running in the cloud, it's easy to change and adapt at your own pace, start with what you need quickly and easily, and be ready for growth.
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What is Microsoft Dynamics 365 Business Central & What Does It Mean for My Business?
- 1. trinsoft.comtrinsoft.com What is Microsoft Dynamics 365 Business Central & What Does It Mean for My Business? Bobby Haggard TrinSoft, LLC
- 2. trinsoft.com What is Dynamics 365 Business Central? • All-in-One business management solution! – Financials, sales, service and operations • 100% Cloud Solution – Full capabilities including financial management, supply chain, inventory and operations management • Offers multi-company, multi-currency, and advanced reporting capabilities • Month-to-Month contract – no long-term commitment required
- 4. trinsoft.com Dynamics 365 Business Central – Core Capabilities Financial management Account receivables/ payables Bank reconciliation Fixed asset management Month/Year end closing Sales & service management Quote generation Contact management Sales invoicing Payment processing Project management Capacity planning Budgets and estimates Job and process costing Resource management Supply chain Inventory and Purchasing control Shipment and distribution Returns and cancellations Procurement and vendor management Operations management Forecasting Production planning Manufacturing capacity Warehouse management Reporting & analytics Customer insights Self-serve reports Interactive dashboards Built-in intelligence
- 5. trinsoft.com License Types • Team Member – Read & Approve, Run all Reports, Employee Self-Serve • Essential – Financial Management, Sales & Opportunity Management, Supply Chain & Inventory Management, Project Management. • Premium – Essential Lic. + Service Management and Manufacturing.
- 7. trinsoft.com Power of the Cloud 2018 2020 2025 11 billion 30 billion 80 billion Connected Devices:
- 8. trinsoft.com Outgrowing Your Accounting System? Manual processes Siloed systems Insufficient reporting Duplicate data Security issues Inventory issues
- 9. trinsoft.com Microsoft Dynamics 365 Business Central Connect your business Start and grow easily Make smarter decisions
- 11. trinsoft.com Deploy a Single, Comprehensive Solution • Automatically pull systems and processes together to manage financials, sales, service, and operations. • Connect with 3rd party applications like payroll, banking, CRM, or industry- specific systems.. MICROSOFT DYNAMICS 365 Business Central Financial management Reporting & analytics Operations management Sales & service management Project management Supply chain management
- 12. trinsoft.com Work Where Business Takes You • Desktop, laptop, tablet, or phone - you get the same powerful capabilities and rich functionality. • Consistent and secure user experience.
- 13. trinsoft.com Manage Quote to Cash – All Within Outlook • Create quotes, process orders, and submit invoices without leaving Outlook. • Access live data directly from Microsoft Excel to update items, sales orders, and purchase orders. • Customize outgoing documents such as quotes and invoices in Microsoft Word..
- 14. trinsoft.com Automate & Secure Business Processes • Streamline business processes with easy-to- create workflows. • Ensure compliance with audit trails and enterprise-level security. • Connect workflows across the system.
- 16. trinsoft.com Get an End-to-End View of Your Business • Centralize data from finance, sales, service and operations to get an accurate view of your business. • Real-time data updates help you spot trends, prevent issues, and deliver great customer experiences.
- 17. trinsoft.com Sell Smarter & Improve Customer Service • Focus on the right opportunities and track ongoing sales performance using custom dashboards and multidimensional reports. • Gain a comprehensive overview of tasks & workloads to effectively assign resources, accelerate case resolution and better serve customers.
- 18. trinsoft.com Guide Employees to Optimal Outcomes • Predict when and what to replenish with built-in intelligence, sales forecasts and dynamically updated inventory levels. • Get recommendations on when to pay vendors to use vendor discounts or avoid overdue penalties. • Manage budgets and monitor progress with real-time data on available resources. 18 units sold
- 19. trinsoft.com Start & Grow Easily
- 20. trinsoft.com Tailor to Your Needs • Customize applications to support your unique business needs. • Rearrange fields, rename groups, and reposition elements. • Connect to 3rd party apps
- 21. trinsoft.com Add Industry or Business Extensions • Extend Business Central to fit industry or business needs with integrated add- on apps. • Connect to data sources and services. – Excel, SharePoint, and CRM
- 22. trinsoft.com Be Ready for Growth • Start with what you need & grow at your own pace. • Easily manage growth using adaptable business applications, and a scalable database.
- 24. trinsoft.com Thank You Thank you for attending today’s webinar. Please contact Bobby Haggard if you have any questions, or if you would like a copy of the slides of today’s presentation. Bobby Haggard bhaggard@trinsoft.com (859)252-6225 ext 1011
Editor's Notes
- Hello, good afternoon and welcome to our webinar my name is Bobby Haggard and I am one of the consultants here at TrinSoft. On our call today we will be discussing what Microsoft Dynamics 365 Business Central is and what it means for your business. So lets get started with figuring out exactly what Dynamics 365 actually is….
- Microsoft Dynamics 365 Business Central is an all-in-one business management solution that helps companies connect their financials, sales, service and operations to streamline business processes, improve customer interactions and make better decisions. Business Central brings the product maturity and full power of Dynamics NAV into the cloud with full capabilities that users are familiar with from NAV including financial mgmt., supply chain, inventory and operations management. With Business Central you still have the ability to have multiple companies and currencies plus there is some additional advanced reporting included And finally as this is on the cloud there are no long-term commitments required, pricing and billing can be done on a month to month basis which can certainly help with budgeting, planning, etc.
- Dynamics 365 Business Central connects your people and processes with a single, unified solution, so data can be quickly and easily shared with key people throughout your company. You have access to the most current data so that you are making the most informed decisions possible. For example, the second a sales rep in the field makes a change to a customer quote, it gets reflected in the numbers being pulled for a forecast report back at the office. With more accurate information at your fingertips, decisions have a bigger impact on the bottom line. Functions like payroll, banking, and CRM systems are just as integrated, so your people can share the most current data and respond to customer requests faster with the most accurate information.
- Dynamics 365 Business Central is a business management solution that’s connecting people and processes like never before. From day one, it makes managing financials, sales, service and operations easier and faster. As you see below this is just a sampling of the core capabilities that are built into the system – and you get all of these when you purchase the Dynamics 365 business central.
- Within Dynamics 365 Business Central there are 3 different licensing types. First is the “Team Member” which is a very limited license type. With the team member the user will get read and approve access with the system, they will have the ability to run all reports, and they will have access to employee self-service. Next is the “Essential” license type – with this type of license the user will have access to the majority of the system including financial management, sales & opportunity management, supply chain and inventory management, and project management. The third version is the Premium license. With this version the user would get all the access of the Essential license type and then additionally have access to Service Management and Manufacturing. One question that we’ve been getting lately is asking about combining the two main license types and if that is possible….unfortunately the answer is yes and no. You can identify some users as “Team Member” and give them the very limited role, however, for those active users they have to either all be an Essential user or all be a Premium user. You do not have the ability to pick and choose between Essential or Premium for your users.
- Lets quickly look at the product evolution of Dynamics NAV to Dynamics 365 Business Central. As you can see from the chart below Microsoft has slowly been adding to and making the move to the cloud. With previous versions of NAV 2016 & 2017 Microsoft basically had two offerings which included an on-premise offering and a basic cloud offering that was financials only. As you can see Microsoft has been slowly adding to the cloud offering with each new release of NAV. Microsoft started in the cloud with Financials while NAV 2016 was offered on-premise, Microsoft later added some portions of Operations for cloud when NAV 2017 was released on-premise. In Fall of 2017 Dynamics NAV 2018 on premise with no major updates to the cloud version. However, in the Spring of 2018 at the beginning of April the fully function cloud version of NAV which we now call Dynamics 365 Business Central was released while NAV 2018 was released for those using the on-premise model. Looking forward at what's to come we can see that with the fall 2018 release the name “NAV” will actually be going away and both the on-premise and the cloud version of the solution will be known as Dynamics 365 Business Central.
- With Microsoft making this release available in the cloud lets quickly talk about the size and power of the cloud. According to a recent article by Forbes -- today there are roughly 11 Billion devices that connect to the internet. This figure is expected to nearly triple to 30 Billion by 2020 and nearly triple yet again by the year 2025 which sound like a long ways away but when you realize that we are less then 7 years away from there being nearly 80 billion devices connected to the internet at any one time. Those are some big numbers! Additionally in a PWC survey of CEO’s they found that 86% of CEO’s consider Digital their #1 priority. These CEO’s believe that technology can and will transform their business more than any other global trend. So what can we take from this new information? First the cloud, internet, or technology are not going away…in fact the speed at which advances are being made is picking up steam. Secondly businesses, even those that are in the small to medium market need to be prepared to keep up and stay connected and TrinSoft can help you do just that! A couple things to keep in mind regarding the cloud and staying connected: First, with nearly 2 billion active social media accounts and nearly 3 billion active internet users the way companies interact and engage with customers is changing Secondly, every employee can and should be more empowered…with the cloud your employees can be connected at any time from mobile, tablets, or pc’s Next, as I previously mentioned the “Internet of Things” cannot be ignored. It is too big and there is too much area of growth and engagement to be overlooked or ignored. Furthermore, the customer experience will eclipse product and price very soon – whether its engagement through the cloud etc. And finally, customer engagement is an ongoing commitment – with so much connectivity if a customer doesn’t feel supported or welcomed then it is very easy for them to quickly search for anything online and find competition. So knowing your customers and engaging and making the connection with them is key. Okay now that we understand what Dynamics 365 Business Central is and the power of the cloud who should be using this new system? Source: http://www.forbes.com/sites/michaelkanellos/2016/03/03/152000-smart-devices-every-minute-in-2025-idc-outlines-the-future-of-smart-things/#30565b369a71
- Growing businesses often outgrow their basic accounting software or legacy ERP systems that are unable to handle increased inventory and transactions, lack integration with other line-of-business systems, and have reporting limitations. Customers also feel pain around scalability, mobility, and cloud. Now take a minute to identify if your existing system or systems have what it takes to make the most of new opportunities. Here are signs that your current solutions won’t be ready to handle additional growth. Systems are disconnected and information is siloed Duplicate data entry into multiple systems is a daily routine Manual Processes such as accounting occurs in Excel, not your financial system Reporting is complicated and provides insufficient information Lack of secure workflows and audit trails increase risk Inability to handle increased inventory and transactions
- For businesses that have outgrown existing accounting software, Dynamics 365 Business Central is an all-in-one business management solution that easily and seamlessly connects people and processes. Dynamics 365 Business Central is deeply integrated with Office 365 and includes built-in intelligence, so it’s easy to use and helps you make better business decisions. Dynamics 365 Business Central puts flexibility at the core of your business, enabling you to grow at your own pace and adapt in real time. That means you can start small with the right fit for employees’ roles, your industry and business needs and extend Dynamics 365 as your business evolves and grows.
- With Dynamics 365 Business Central you can free your business and your people from the limitations of multiple, disconnected solutions and the inefficient employee workarounds that waste hours every week. Dynamics 365 Business Central automatically pulls your systems and processes together so your people don’t have to, getting your entire company in sync with the growth of your business. Automate critical processes with easy-to-create workflows and audit trails that secure processes without adding complexity.
- When you deploy Business Central you are providing a single, comprehensive solution that allows you to connect your business by pulling processes together to manage financials, sales, service, and operations all within one system…there is no need for duplicate entry. With Dynamics 365 you can also connect to 3rd party applications like payroll, banking, CRM or other industry specific system with ease.
- One of the features that makes Dynamics 365 Business Central unique is that you can work where your business takes you. There are no compromises with the tablet or mobile experience. With other software solutions the tablet or mobile versions only provide a view of your data and often don’t provide the same rich functionality that you will get with Business Central. Dynamics 365 Business Central supports all mobile experiences equally. Your people will get the same desktop capabilities and experience on Windows, iOS and Android platforms, using their device of choice. So anything that you will be able to do on your PC you will also be able to do on your tablet or mobile device! Essentially you can run your business from any platform with a consistent user experience from desktop to smartphone with the latest high-level security features automatically built in.
- One of the new features with Business Central is the ability to manage the quote to cash process by shortening the time it takes to perform the various tasks. With Business Central the user is able to manage the entire process within your Outlook inbox. A user can easily set up your customers or vendors and get to work creating a quote by pulling product details and quantities directly from a customer’s email, input key points into your quote template in Outlook, and email the final quote in minutes. The process is just as simple when it’s time to create and send an invoice for payment. As part of the experience inside Microsoft Outlook, real-time customer and vendor history is immediately accessible from within contextual emails. Access to the most current information enables users to be more productive and make quicker decisions without accessing additional applications. Dynamics 365 Business Central reduces the wasted time and friction that happens when you’re forced to toggle between multiple applications. Instead, users can take immediate action directly from a single screen, sharing information and insights that lead to better customer experiences. Users can access live Dynamics 365 Business Central data directly from Microsoft Excel to read, write, and update items, sales orders, and purchase orders. Integration with Excel offers powerful capabilities such as bulk imports / exports / updates, and Excel based data analysis using Charts and Pivot Tables. Integration with Microsoft Word allows users to customize and brand all outgoing documents such as quotes and invoices. Users can create/edit/modify the report layout in a Microsoft Word document as well.
- Business Central will also help to improve productivity and get more done with easy-to-create workflows, audit trails, and enterprise-level security. Users can connect workflows across sales and accounting to automatically track various processes with pre-defined alerts and approval workflows. For example, when a record, such as a purchase document or a customer card, needs to be approved by someone in your organization, you send an approval request as part of a workflow. Based on how the workflow is set up, the appropriate approver is then notified that the record requires their approval. You can also setup reminder approval workflow for overdue approval requests.
- Once your business is connected and within one system this will allow you and your employees to make quicker and smarter decisions based on real-time data and information.
- Dynamics 365 Business Central connects your people and processes with a single, unified solution, so data can be quickly and easily shared with key people throughout your company. You have access to the most current and accurate data in real time so you can spot trends, prevent issues, and deliver a great customer experience. This will help you and your team to make the most informed decisions possible.
- With this system you can easily track ongoing sales performance and leverage actionable insights to focus on customers that have the greatest potential for long-term growth. With the use of custom dashboards and multidimensional reports your employees will be able to quickly analyze key performance indicators (KPIs) and focus their efforts on the right opportunities and customer interactions. For deeper insights, Dynamics 365 Business Central includes advanced analytics, making it simpler to access and analyze data across multiple dimensions for ad hoc, customized reports. With this data you can deliver exceptional service with a comprehensive overview of your service tasks, workloads, and employee skills to effectively assign resources and accelerate case resolution.
- Within Business Central the system will use advanced analytics to help guide your employees. The system can use built in intelligence to help optimize inventory levels. The system can help to predict when and what to replenish. This will allow you to only purchase what you need with dynamically updated inventory levels. Leverage sales forecasts to automatically generate production plans and create purchase orders. Avoid lost sales and reduce shortages by maintaining the right amount of inventory by automatically calculating stock levels, lead times, and reorder points, etc. The system can even suggest substitutes when requested items are out of stock. Business Central can try to maximize profitability by using built-in recommendations on when to pay vendors to use vendor discounts or avoid overdue penalties. It can also try to prevent unnecessary or fraudulent purchases through the various approval workflows. This system will also help you to keep projects on time and under budget by helping you analyze project performance and make effective decisions with real-time insight on project status, profitability, and resource-usage metrics.
- A new solution like Dynamics 365 Business Central doesn’t mean hours of training or disruption of key processes. Business Central lets you get up and running quickly. Right from the start you will be able to handle the most common tasks—quotes, orders, invoicing, purchasing, and reporting. If you’re currently using QuickBooks, transferring your company’s financial data into Dynamics 365 Business Central is quick and painless. There are intuitive migration tools that let you import all the data you need for maximum business continuity. There’s no need to slow down and switching to a new solution doesn’t have to impact your day-to-day workflow. By using familiar Office tools your people already know, everyone gets up to speed quickly and without extensive training. Applications like Outlook, Word, and Excel provide the comprehensive and reassuring experience that gives employees confidence. It’s built in the cloud, so it’s easy to set up, manage and scale.
- With Business Central is flexible and will allow your users to tailor the systems look and feel to their own desires. Your users will be able to create custom applications with a simple drag-and-drop in-client designer to rearrange fields, rename groups, and reposition elements, and design workflows to automate your business processes. You can work with TrinSoft to connect third-party apps or configure Dynamics 365 Business Central to support your unique industry-specific needs.
- As you grow, it’s easy to add applications and configure Dynamics 365 Business Central to fit business needs or industry demands. Microsoft has developed an online library of solutions that they call AppSource which helps business owners do more with solutions by providing an ecosystem of apps to discover, trial, and deploy. These apps can be used to extend various functions or features within Dynamics 365 Business Central and can be used to connect different data sources such as excel files, share point or CRM reconrds.
- By using Business Central you can start with what you need and grow at your own pace to run your entire business in the cloud. Users can easily manage and import data from other solutions using data migration wizards and assisted setup. It’s built in the cloud, so it’s easy to set up, manage and scale as needed.
- Okay give me just a minute to switch over to this demo company setup.
- Thank you for taking the time to attend this webinar. I hope that you have seen that Microsoft Dynamics 365 Business Central is a powerful yet flexible platform that helps your business run at the pace of change, connect your people and processes like never before, and quickly give you the information and data needed to make quicker decisions. If you have any questions please send me a quick email or give us a call and we will be happy to talk through any questions that you may have. Also, if you would like a copy of these slides then let me know and we will be happy to share these with you. Thanks again and I hope you have a great rest of your day!