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      Microsoft Dynamics 365

      Why MS Dynamics 365 Is the Right ERP Tool for Finance Industries

      May 04, 2023

      4 minute read

      Microsoft MS Dynamics 365 is an enterprise resource planning (ERP) system that helps reimagine the financial and business operating processes. It empowers businesses to gain financial visibility, deliver successful projects, and witness workforce transformation.

      According to Microsoft, Dynamics 365 has more than 250,000 customers globally, and the platform has been recognized as a leader in the ERP and CRM markets by various industry analysts.

      If you are a financial business, trying to cope with the challenges of your heavily customized and disparate ERP and CRM systems, then MS Dynamics 365 can prove to be your best bet.

      Let’s see how MS Dynamics is transforming the finance industry with an array of benefits.

      Streamline Your Finance Business With MS Dynamics 365

      Following is the list of prominent benefits that finance industries can get from the Dynamics 365.

      Why MS Dynamics 365 Is the Right ERP Tool for Finance Industries

      1. Prevent Loss of Data: Data crunching and analysis are crucial in the finance industry. However, with data across different platforms, there are higher chances of data loss and misrepresentation. Dynamics 365 ERP captures business-wide data in a single platform, maintaining data security and confidentiality.

      2. Accelerate Growth With 24*7 Data Availability: As Dynamics 365 is a cloud-based platform, using it, your employees can access data anywhere, anytime, and from any device.

      3. Secure Data and Privacy Compliance: The finance industry needs to adhere to multiple compliance and guidelines. Using a manual solution for conducting business operations can become tedious, with numerous errors.

      Dynamics 365 ERP offers tools like eDiscovery and Audit, Information Protection and Governance, Insider Risk Management, etc. But with Dynamics 365, you can automate routine processes, all while adhering to various legislations and regulations.

      4. Customize and Integrate Ecosystems: Dynamics 365 Finance and Operations comes with customization and integration capabilities. So, based on your business requirements, you can integrate the Dynamics 365 system with a repository of third-party and Microsoft applications.

      5. Get Holistic Financial Reporting and Analysis: Clear and accurate financial reports can enable you to make informed decisions and keep up with changing industry trends. MS Dynamics is an ideal solution for managers and executives to create detailed financial reports and get essential business insights for better decision-making.

      Now, let’s take a look at the reasons to opt for Dynamics 365 for finance industries.

      Dynamics 365 for Finance Industries

      Dynamics 365 is a single module to unify all departments and data in a financial business, resulting in a significant improvement in operational flow and customer experience.

      In fact, Forrester stated in their 2022 research[i] that Dynamics 365 Finance helped organizations improve their ROI to 122 percent, reduce costs by over $3.5M, and increase the finance personnel’s productivity up to 55%.

      Let’s unveil the top features of Dynamics 365 for finance industries.

      1. Customer Acquisition

      Businesses can attract new customers by personalizing interactions and increasing the sales team’s productivity by automating various sales processes. This can be achieved by:

      • Accelerating customer acquisition with Dynamics 365’s AI-enabled customer insights.
      • Using intelligent chatbots to begin proactive conversations, pre-qualify sales leads, etc.
      • Enabling bankers and managers to focus on the right prospects with predictive lead scoring.

      2. Customer Onboarding

      Finance industries can onboard customers smoothly and build loyalty with Dynamics 365. This can be achieved by:

      • Getting a 360-degree view of customers through financial, behavioral, and demographic data.
      • Leveraging cross-sell, up-sell opportunities, and a unified view of current product holdings.
      • Managing multiple touchpoints of a customer’s experience during the onboarding process.

      3. Customer Service

      Dynamics 365 can enhance customer service by predicting customer issues and resolving them proactively. This can be done by:

      • Enabling self-service conversational chatbots to respond to customer needs quickly.
      • Delivering prompt customer support using the customer’s preferred communication channel, while simultaneously ensuring a personalized digital and human experience.
      • Providing support agents with guided workflows and a unified view of the customer to boost productivity and enhance CX.

      4. Risk Management

      Microsoft Dynamics 365 provides a comprehensive set of tools for managing financial risk. By leveraging these tools, finance organizations can identify potential risks, assess their impact, and develop strategies for mitigating them. This can be done by:

      • Protecting online fraud with AI that monitors fraud patterns in detail.
      • Using robotic process automation (RPA) to lower business risks.

      5. Operations Optimization

      Dynamics 365 can help financial businesses reduce operational costs through process automation. It includes:

      • Tracking inventory levels in real-time, creating purchase orders and sales orders, and managing shipping and receiving operations.
      • Creating workflows to automate supply chain processes and ensure that inventory levels are being maintained at optimal levels.
      • Using analytics to identify potential bottlenecks and optimize production processes for maximum efficiency.

      So, if you are looking for an ERP solution that provides smooth integration & transferability, and will help increase your business ROI and productivity, then Dynamics 365 CRM & ERP tool can be the right choice.

      Want to Streamline Your Finance Operations With MS Dynamics 365? Talk to Us!

      Our extensive expertise lies in all things MS Dynamics 365. Our experts can pitch in from consultation to implementation, customization, and integration to help you ace your goals. To explore more about our MS Dynamics 365 prowess, drop us a line at [email protected], and we’ll take it from there.


      [i] Total Economic Impact

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