Microsoft Dynamics 365 for Financials is new to the market and there are a lot of questions about it. One of the best ways to see how it measures up is to compare it to one of the long-standing pillars of the ERP software community, Microsoft Dynamics GP.
Dynamics 365 is based on SaaS and is targeted as a network platform for medium-size and small businesses heavy on IT reliance. As a direct competitor to Quickbooks and Xero, Dynamics 365 is specifically designed for financial management. The main modules a built on traditional accounting demands for general ledger, accounts payables and accounts receivables. Additional features are expected to be developed when partner and third party app creators start to proliferate with the adoption of the new platform.
Dynamics 365 allows instant Microsoft update and bug fixing direct from the manufacturer, and it can work on any kind of device versus being limited to just desktops and laptops. Finally, licensing is subscription-based and scalable, charged monthly and can be modified immediately as more or less access is needed. No surprise, Dynamics 365 is exceptionally consistent with a cloud approach for basic financial tools.
Dynamics GP has a proven track record. It’s been in use and delivered results for over three decades. Dynamics GP also has custom-tailored model where partners fix and tweak exact needs with the GP platform. There really isn’t a one-size fits all approach. As a result, a very strong community of partners and add-on affiliates has developed.
Dynamics GP is available on-premises if you want to keep your system on your own servers. However, it is also available hosted by partners, in Microsoft Azure or on a subscription basis through partner-provided private cloud environments, like the Socius One Cloud.
Instead of wondering which one is better, companies should be look at Dynamics GP and Dynamics 365 to determine which is right for them. If you need help with this evaluation, Socius can give you unbiased advice!