What Is New In Microsoft Dynamics 365 For Businesses?

Recently, Microsoft has announced the release of new updates for Microsoft Dynamics 365 that will enable businesses to innovate and enhance their capabilities. Being a Microsoft partner company, we at Xcentric Services believe that these updates will help businesses improve their functions and empower digital transformation. On the whole, the new updates are for features across different Dynamics 365 applications – Business Central, Finance, and Supply Chain Management. Want to know more about these updates? Let us get you through them!

Microsoft Dynamics 365 For Finance

Artificial intelligence and automation are two notable updates to-be-released in Dynamics 365 Finance. From automating cash flows based on predicted results to using machine learning for financial operations, the new updates have advanced every technology. To point out, the important improvements made with these updates include:

1. Integration For Forecasting Cash Flows

Previously, the cost forecasts showed up in the account and project management part. However, now, they will be available in bank and cash management modules. Therefore, businesses can now generate more comprehensive forecasts of cash flows.

2. Enhanced Performance With Artificial Intelligence And Automation

Microsoft has leveraged the power of artificial intelligence for processing financial transactions and helping businesses make informed decisions. Using extensive models and configurations, the update will provide access to accurate and intelligent predicted cash flows such as:

• Forecasted bank balance
• Predicted customer payment
• Intelligent budget proposal
• External cash flow forecasting data

Dynamics 365 For Supply Chain Management

The newly released updates in Microsoft Dynamics 365 for supply chain management supports businesses in maximizing resource utilization and minimizing inefficiencies. They will enhance overall user visibility and empower better control. Overall, the updates in Dynamics 365 for supply chain management classify into:

1.  Asset Management

If a business uses the asset management plug-in for maintaining assets, the new update in Dynamics 365 for supply chain management will improve its efficiency and transparency. Moreover, the update will also include incremental improvements that will simplify and enhance the scheduling and executing tasks at the right time.

2. Inventory And Logistics

With the several new logistics and inventory-related features about to be released in the coming months, businesses will be able to gain more transparent visibility into their supply chain. On the whole, they will strengthen warehouse management through a mobile application and provide users a better experience. To highlight, they will help access landed costs using the mobile application, schedule warehouse work tasks, set financial dimensions for the inventory’s standard cost, and manage the warehouse as a whole.

3. Manufacturing

The new Dynamics 365 Updates in manufacturing will also enable businesses to carry out mission-critical manufacturing processes without any hassle. Furthermore, they will also focus on innovating and enhancing the production interface for businesses with features like:

• Saved production control views
• Face recognition sign-in for workers

4. Planning

The add-in of planning optimisation in Microsoft Dynamics 365 for supply chain management will also be introduced to MRP – Material Requirements Planning. This capability in the ERP solution will assist businesses in planning their production schedules and determine the delivery times. As Microsoft Partners, we at Xcentric Services have listed down the new features related to planning that we believe will be game-changers.

• Coverage time support
• Manufacturing forecast support
• Purchase requisition support
• Infinite schedule capacity support
• Re-ordering margin support

Microsoft Dynamics 365 Business Central

The new updates in Dynamics 365 Business Central will make businesses more productive and efficient. By improving the performance and usability, the in-app functionalities will benefit both – new and existing users. Here, we have highlighted the key updates Microsoft plans to bring in Dynamics 365 Business Central:

• Adjustment of item costs in the background with assisted setup
• Auto creation of serial numbers for information cards
• Improved bank and payment reconciliation
• Correction of dimensions for G/L entries
• Simplifies importing of bank statement files

1.  Better Collaboration

With the release of 2021 updates, Microsoft plans to improve the collaboration between Microsoft Teams and Business Central. Besides, it will also strengthen the Outlook and Excel plug-ins available in the ERP solution, thus allowing users to:

• Lookup Microsoft Teams contacts in Business Central
• Merge the Word documents with Business Central
• Use Microsoft Universal Print for cloud printing

2.  Fast Onboarding

Through the following improvements in the setup process, Microsoft will make it easier for businesses to get onboard faster and seamlessly.

• Guide for initial setup
• Better setup experience with Business Intelligence
• In-app enhanced help
• Integration with Power Platforms and Microsoft Dataverse

Conclusion

Regardless of what size your business and industry are, the to-be-released Microsoft Dynamics 365 updates have some benefits in store for everyone. Are you planning to utilize these new features for promoting your business’s growth and need some professional help? Get in touch with us at Xcentric Services before the updates are released. Our Microsoft experts will utilize the potential of Microsoft Dynamics 365 for Business to the fullest and overcome the challenges you face every day. To get the latest Microsoft Dynamics 365 license for your business, visit Xcentric Store.