Robust management and planning are the prerequisites for steady financial operations. Global businesses require effective finance arrangement and keep a track of growth as well to ensure increased productivity and accomplishment of future goals. In particular, financial management forms the core of all the major operations within an organization, assists in meeting operation-specific objectives efficiently. It includes financial planning, tax planning, capital reserves, allocation of funds, investment opportunities, and economic growth stability. One cannot overlook the importance of financial management to improve planning and budgeting at every stage and in all the conditions with the business.
In this case, Microsoft offers powerful tools to manage finance and steer digital transformation to all the operations to escalate growth. Dynamics Business Central has come up with advanced functionalities of Dynamics Nav to render financial management applications to business, especially small and medium ones. Hence, the inception of Dynamics Business Central has enticed global business organizations to improve financial management and procure substantial expansion.
Here’s Why Businesses Are Picking Dynamics Business Central Over Dynamics NAV To Regulate Financial Operations
Power BI Dashboards— Intelligent insights are the key attraction to deploy Dynamics Business Central and streamline all the operations with financial management. Administrating a small and medium enterprise, you can gain in-depth visibility of the business and chart real-time financial performance. Also, it enables you to connect data across accounting, inventory, sales, purchase, and customer interactions to make more informed and diligent decisions as well.
Automated Reporting— With this robust functionality, you can streamline account payables and account receivables efficiently to escalate financial reporting as well as closing. Dynamics Business Central proffers automatic reconciliation of accounts and prompts quick reporting, meanwhile maintaining all the compliances. Also, it combines other facets of finance, including cost and activity accounting, and internal and external reporting.
Financial Forecasting— Small and medium businesses can employ Dynamics Business Central for sales forecasts, financial forecasts and customize reports utilizing its supreme integration with Excel efficiently. This functionality assists you to automate the generation of production plans and the creation of purchase orders through estimate stock-outs as well. Also, You can strain financial forecasts by analyzing and casting data across multifarious dimensions as well.
Integration Without Data Silos— Invalidating the chances of ‘data silos’, Dynamics Business Central renders extensive functionality to increase the effectiveness of the operations for substantial business growth. Its integration with other applications enables you to share and update data as per the requisites to regulate financial management.
Advanced Security— The advanced and upgraded, strong security functionality facilitates you to bid farewell to the risks of hackers’ intrusion. You can update data-responding to most complex operations and enables you to allow chosen authorized users to access the database. The four levels of security, including database, company, object, and record help provide information to authorized users only, who can access a specific database.
Key Features Of Dynamics Business Central To Support Steady Financial Management:
- In particular, Dynamics Business Central boost financial management through its extensively designed modules, such as material asset accounting, intercompany postings, XBRL support, budgeting functions, and account schedules. Furthermore, functions pertinent to financial management get extensive support through optimized modules, including assets accounting, payment transactions, and DATEV interface.
- Although Dynamics Business Central renders extended functionality of Dynamics NAV, it is accessed on a desktop through a web client via an internet browser. With NAV, businesses could access it on a desktop through a local client via a browser. However, you can have access on mobile through downloaded applications, felicitous to both Business Central and NAV. Hence, stimulation and automation of financial management get efficient with Business Central.
- Licensing forms the basis for distinct Dynamics Business Central and Dynamics NAV. In particular, the Essential Pack of Business Central and the Starter Pack of NAV renders specifically required functionalities to the business. On the other hand, you can add other functionalities with a Premium pack of Business Central and Extended Pack of NAV to improve financial management. For instance, General Ledger is an essential service, whereas, cost accounting can be added to extend the capability. The key segregation lies within the subscription. Business Central with the monthly subscription, is payable per used names, whereas, NAV has module-based pricing and you need to do the separate payment to get add-ons, user-friendly functionalities.
- You can avail hosting of Dynamics Business Central through its cloud-based model. Also, it can be hosted in the on-premises data center. Hence, you can pick your choice of model as per your financial operations requisites.
- Dynamics Business Central has a more cloud-compatible development platform and renders convenient customization as and when required to stimulate financial management.
Dynamics Business Central is a comprehensive, cloud-based solution to serve small and medium enterprises to manage financial operations most efficiently. Due to its core capabilities of bank account management, cash flow forecast, account schedules, fixed assets allocations, multiple currency transactions, and payment handling, Business Central is handpicked by mid-sized business organizations to improve financial management diligently. Facilitating these businesses with real-time analytics, compatible customization, subscription-based model, robust reporting, and adaptability to other applications, Business Central optimizes profitability through automated financial processes and assists in procuring significant global recognition as well.