Five Qualifiers for Microsoft Dynamics 365 Finance & Operations

When considering a move to a new ERP system, choosing the right solution to support your current needs and future growth can be challenging. We’ve outlined our top five qualifiers to help you determine if engaging with Microsoft Dynamics 365 for Finance and Operations is the right choice for your business.

Cloud First Mindset

D365 Finance and Operations companies are either already working in the cloud or are willing to move there. While there is an on-premise version available, Dynamics 365 for Finance & Operations can be best described as a cloud first, but not cloud-only product.

For companies with critical business processes that cannot shut down due to connection issues, such as Hospitals, we typically recommend hybrid “Edge” modeling.

Broad Business Applications

Dynamics 365 Finance & Operations is an advanced ERP with broad capabilities, and even more so when enabled with other tenants of Dynamics 365 such as Talent and Customer Engagement. When dealing with a broad business set including financials, procurement, professional services, asset management, or warehouse management, D365 Finance & Operations may be a good fit.

With many other ERP systems, business processes such as requisitions, workflow, budgeting, and multi-company structures with inter-company transactions and consolidated reporting require the utilization of ISV’s. These capabilities are largely included within the core functionality of Dynamics 365 Finance & Operations.

Integrated Enterprise

Microsoft is making huge leaps forward in providing an Integrated Enterprise for companies to provide visibility of all activity within the organization. In the past, in order to share data between say Sales and Operations, companies engaged in a manual (Excel) process of combining this data or paid for custom integrations between their on-premise CRM system and on-premise ERP. The Common Data Service, introduced by Microsoft a couple years ago and under near-constant expansion, allows for data, transactions, and visibility among all aspects of an organization, along with product, sales, and financial life-cycles. Further, utilization of embedded Power BI within Dynamics 365 Finance & Operations allows users to render dashboard style reporting directly within the application.

Companies currently utilizing other applications besides ERP for operations such as Human Resources, Sales & Customer Service, Project Management, or secondary ERP’s for satellite companies can benefit significantly from Dynamics 365 Finance & Operations.

Growth Projections

We have moved companies from QuickBooks to Dynamics 365 Finance & Operations. Yes, really. Some simply stayed on QuickBooks too long, while other companies were projecting a “hockey stick” in their sales and needed to prepare with their ERP System and other integrated business applications like Office 365. We’ve seen this with pharma companies getting final approval of their medication to launch, emerging technology companies, companies about to receive a large contract, and private equity roll-ups of multiple companies coming together.

The lifespan of a deployed ERP system should be 10 years and beyond! These companies may not have the business requirements for D365 Finance and Operations today, but based on growth projections, it makes sense to move them to a scalable, top-tier product so that they do not need to implement twice. We would be doing clients a disservice if we only installed what they need today, with no eye to the future.

D365 Finance and Operations User Counts

This isn’t exciting, but it is a qualifier. Dynamics 365 Finance & Operations requires 20 full user licenses to be in the Cloud and on the product. We could look to the on-premise version to eliminate the user requirement, but that has limitations. The size of the workforce that will use Dynamics 365 Finance & Operations should be validated before taking the next steps in your decision-making process.

Still not sure if Dynamics 365 is the right fit for your business? Get in touch with our consultant today.

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