While the use of enterprise resource planning (ERP) solutions may seem most feasible for medium and large-scale enterprises, a properly selected solution can offer significant support even for small companies.
For example, Cybrosys Technologies reports an 11% decrease in operational expenses and a 35% reduction in decision-making time among the surveyed medium and small enterprises (SMEs). Microsoft Dynamics 365 Business Central Essentials is one of such ERP solutions designed for SMEs. In this article, we will explore its essential features in detail.
What are Microsoft Dynamics 365 Business Central Essentials?
Microsoft Dynamics 365 Business Central Essentials is a part of the Microsoft Dynamics 365 software suite, which includes both ERP and CRM (customer relationship management) applications.
While Microsoft Dynamics 365 offers extensive features, many medium and small businesses may not require such broad functionality, especially in the early stages of their development.
To meet their needs and reduce expenses associated with implementing advanced software, Microsoft developed Dynamics 365 Business Central Essentials, which is optimized for smaller companies.
Features included in Microsoft Dynamics 365 Business Central Essentials
Dynamics 365 Business Central Essentials is primarily focused on ERP functionality, but it also encompasses some CRM processes. Here is a list of its core features:
1. Financial management
The ERP solution is designed to effectively manage every aspect of financials in SMEs, including the general ledger, budgeting, cash flow, as well as accounts payable and accounts receivable.
2. Supply chain management
Dynamics 365 Business Central can handle every aspect of your supply chain management with a focus on inventory, warehousing, sales management, and demand forecasting.
3. Project management
Dynamics 365 Business Central is useful for managing projects, including their planning, execution, and monitoring.
4. Sales and Customer Support
Unlike typical ERP systems, Dynamics 365 Business Central allows users to track interactions with customers and manage sales opportunities.
The ERP system is equipped with robust analytical tools that help users generate comprehensive sales reports and financial statements.
6. Security and Compliance
As a leader in ERP and CRM solutions, Microsoft helps companies maintain compliance with data protection regulations and ensures a high level of data security.
When delving into the comprehensive guide on Dynamics 365 Business Central Essentials, it’s essential to understand the distinctions between ERP and MRP systems, which play a vital role in managing business processes, as discussed in the linked article.
Advantages of Microsoft Dynamics 365 Business Central Essentials
As mentioned earlier, the greatest benefit of Dynamics 365 Business Central Essentials is the fact that this solution is tailored specifically to the needs of SMEs. While ERPs dedicated to larger companies can still assist smaller companies, they often come at a much higher price and with functionality redundant at this stage.
A much more cost-efficient approach would be to implement a solution dedicated to SMEs, like Microsoft Dynamics 365 Business Central Essentials.
Additional advantages of this solution are listed below:
1. Fast deployment
Due to its optimized functionality and structure, Microsoft Dynamics 365 Business Central Essentials takes much less time for deployment than software products dedicated to large enterprises.
2. Global reach
Dynamics 365 Business Central Essentials is an effective solution to support businesses operating on a global scale due to its multi-currency and multi-language support, making this product adaptable to different geographical regions.
3. Improved efficiency
Dynamics 365 Business Central Essentials effectively streamlines business processes through automation, significantly reducing manual work and associated errors.
4. Immediate access to real-time data
The ERP system acts as a central repository for business data, collecting it from numerous sources and providing employees with a holistic view. This is essential for data-driven decisions.
5. Cost savings
Improved decision-making and reduced manual labor inevitably result in cost savings, which, in turn, leads to greater profit.
Although Microsoft Dynamics 365 Business Central Essentials is not designed for large enterprises, it can effectively support the development and expansion of small businesses.
7. Powerful analytics
Unlike many similar products, Dynamics 365 Business Central is a particularly powerful solution equipped with rich analytical tools that provide better insights into business performance.
8. Seamless integration
As a part of the Microsoft Dynamics 365 suite, this ERP system integrates seamlessly with other products from Microsoft and numerous applications created by third parties.
9. Constant updates
Microsoft offers extensive support for the application in its ERP and CRM suite and is constantly working on the optimization of its functionality and performance. Thus, Dynamics 365 Business Central Essentials receives frequent updates which further enhance its work.
10. Wide adoption
Dynamics 365 Business Central Essentials is one of the most popular ERP systems dedicated to SMEs available on the modern market. Due to its wide adoption, companies have access to an ever-growing user community eager to share knowledge and experience of using this software product.
Additionally, companies have access to professional implementation service providers such as XPLUS, which offers comprehensive assistance at every stage of the software deployment.
Conclusions – Are Microsoft Dynamics 365 Business Central Essentials the right choice?
Dynamics 365 Business Central Essentials is an excellent alternative to other extensive ERP and CRM applications within this suite, which are typically dedicated to large enterprises. It provides SMEs with access to all the necessary features and supports them with advanced analytical tools at a more affordable price.
However, if you anticipate rapid growth for your company, especially if it already qualifies as a medium-sized company, you may need to consider other Microsoft Dynamics 365 ERP solutions, such as Microsoft Dynamics 365 Finance and Supply Chain Management.
For professional advice on choosing the right Microsoft ERP system for your organization, it is advisable to contact a competent implementation partner.