Xero and MYOB have been the tried-and-tested accounting platforms for Australian businesses. In recent years, there has been a paradigm shift where businesses are migrating to Microsoft Dynamics 365 Business Central, looking for better ways to manage their finance operations, as their business grows.
Australian businesses are adopting Dynamics 365 Business Central as it’s helping them manage their finance operations more efficiently.
There are several key benefits of moving to Dynamics 365 Business Central – From improvements in streamlining financial operations and delivering real-time insights into business performance, to advantages in tracking budget variances and strengthening cash flow management
Improved Financial Management: Business Central includes powerful financial management capabilities, including a general ledger, accounts payable and receivable, and cash management. This allows businesses to have real-time financial data, which can help them make better-informed decisions.
Supply Chain Management: Business Central includes advanced supply chain management features such as inventory management, purchase order processing, and sales order management. This can help businesses streamline their supply chain operations and improve their operational efficiency.
Project Management: Business Central includes advanced project management capabilities such as task management, resource management, and timelines. This allows businesses to easily monitor and track their projects and adjust as needed.
Customization: Business Central is highly customizable, allowing businesses to tailor the solution to their specific needs. This makes it a great option for businesses of all sizes and across different industries.
Integration: Business Central integrates seamlessly with other Dynamics 365 applications such as Sales and Marketing, which can provide a cohesive view of business operations. It also seamlessly integrates with other Microsoft Office 365 applications such as Outlook, Word, and Excel, making it easy for businesses to access and manage their data.
Advanced Analytics: Business Central includes advanced analytics and reporting capabilities. This allows businesses to track and measure the effectiveness of their financial, supply chain, and project management activities, and identify areas where they need to improve.
Business Central also improves your forecasting through connected reports, charts and Power BI data across accounting, sales and purchasing. Using this data, you can gain powerful insights and make more profitable financial decisions.
Cost-effective: Dynamics 365 Business Central is a cost-effective solution that can be purchased as a standalone application or as part of the Dynamics 365 Customer Engagement Plan. This flexibility can help businesses save money in the long-term, as the software is constantly updated and improved.
Compliance: Dynamics 365 Business Central is compliant with local regulations, and it ensures that businesses can manage their financial operations and stay compliant with local regulations.
Dynamics 365 Business Central is the perfect solution for companies reporting on an accrual basis.
However, if your company reports to the Australian Taxation Office on a cash basis, Dynamics 365 Business Central can still be utilized – you just must use it in a slightly altered manner. For example, it is important to remember not to post an invoice until payment is received or purchase invoices until payment is made. Dynamics 365 ensures that companies using cash-basis reporting have the same access to advanced business tools and features as those using accrual-basis reporting.
At Intelegain Technologies, we understand the importance of having a seamless and efficient system implementation. Hence we’ve developed a unique deployment methodology specifically tailored to Australian businesses. This approach not only saves you time and resources during setup, but also allows you to focus on running and growing your business.
We’d be more than happy to discuss how Dynamics 365 Business Central can add value your business.
Reach out to us to discussion further questions you may have. If you would like to have a walkthrough of Business Central, Click here to schedule now.