Microsoft Dynamics 365 Finance & Operations offers a wide range of functionality to help enterprises drive their processes for financials, operations, and supply chain management. And with every release of Dynamics 365, Microsoft enhances the overall usability, accessibility, performance, and reliability of the platform.
To help you plan and prepare for what’s coming over the next six months in the Finance & Operations 2023 Release Wave 1 update, here’s a quick rundown of the key new functionalities Microsoft plans to deliver between now and September:
- Enhanced subscription billing.
- Advanced cost and revenue deferrals—with project accounting and a sub-ledger.
- Invoice capture—read vendor invoices using OCR capabilities to create AP process automation.
- Ledger settlement automation with the help of financial tags.
- Preview of archived and deleted data to save space and increase access performance.
- Invoice number length extended to 50.
- Use of payment schedules in the invoice journal.
- Improved bank reconciliation—use booking dates to post new transactions in bank statements.
- Automation of complex tax scenarios by simplifying tax rate provider integrations.
- Integration with global e-invoicing for connectivity to international tax authority services.
- Tax-specific exchange rates for tax currency conversion.
Warehouse and Supply Chain Management
- Attribute-based omnichannel management to plan sales prices with attributes on customer, product, and order segments.
- Standard costing to evaluate discrete manufacturing costs.
- Inventory visibility to calculate available-to-promise up to three months in advance.
- Visibility into future inventory status and order-promising capacity.
- Order-promising for fulfillment dates further out into the future.
- Soft sales order reservations to maintain a sole source of truth for omnichannel fulfillment and inventory inquiries.
- Near-real-time insights into current and projected inventory availability.
- Streamlined quotation to invoice workflow to reduce sales lead times.
- Archived inventory transactions and sales orders to allow for historical analysis.
- Mobile app for warehouse worker productivity enhancements improved GS1 barcode support and packing functionality.
Manufacturing and Operations
- Simplified maintenance tasks with relevant insights on asset performance.
- Enhanced capabilities for checking the availability of materials before releasing production orders to the shop floor.
- Planning optimization with near real-time insights into requirement changes and production schedules.
- Performance investments incorporated into project estimations, sales processes, and project invoicing.
- Project budgeting and time-phased forecasting.
- Improved notifications, approvals, and itemization support for mobile user expenses.
- Advanced cost and revenue deferrals with time and materials projects for stocked or production-based scenarios.
- Cancellation of PO receipts with connected item requirements.
To Learn More
Each of the capabilities in the 2023 Wave Release I will become available sometime over the next six months. View more about Dynamics 365.