Running a small business can be challenging, especially when your business software is cumbersome and doesn’t meet your needs. But what if there was a simple solution that could help you manage your finances, streamline your operations, and make data-driven decisions? Enter Microsoft Dynamics 365 Business Central, formerly known as Dynamics Navision, a comprehensive business management solution designed specifically for small and medium-sized businesses (SMBs).
With Dynamics 365 Business Central, businesses can easily streamline their everyday business activities. Moreover, it is fast to implement, easy to configure, offers actionable insights, and facilitates faster & well-informed data-driven decisions. The best part is that by seamlessly integrating the CRM software (Customer Relationship Management) and the ERP software (Enterprise Resource Planning), it provides SMBs with a 360-degree view of their customers as well as their business. Moreover, it is “highly adaptable and enables companies to manage their finances, supply chain, manufacturing, shipping, project management, services without any hassles.”
In this blog, let us look at some of the key updates of Business Central with the 2023 Release Wave 1.
With the 2023 Release Wave 1, Business Central has introduced key updates that improve & enhance user experiences, financial management, reporting and data analysis, productivity with Microsoft 365, and adaptation with Microsoft Power Platform.
Enhanced User Experience
Business Central offers a wide range of user interfaces, including a desktop app, web application, and mobile apps, enabling businesses to access their data from anywhere, on any device. In the 2023 Release Wave 1, Microsoft has focused on boosting efficiency of businesses while working with lists of records and actions. Businesses can now personalize fields on a page by choosing from existing table fields, making it easier to optimize their workspace and reduce time and effort.
Streamlined Financial Management
Managing accounting tasks for multiple companies has become easier with the 2023 Release Wave 1. Additionally, there have been improvements in features such as Intercompany postings, which streamline intercompany transaction processes. Moreover, businesses can now use the Statistical Accounts feature to easily enter numerical data for general ledger (G/L) transactions and use that data for analysis. Similarly, features like G/L Settlement also allow businesses to apply general ledger entries even during reconciliation tasks, thereby making financial management more efficient.
Improved Reporting and Data Analysis
The 2023 Release Wave 1 introduces the ability to group, filter, and pivot data directly on lists in Business Central. Businesses can enable data analysis on any list and start analyzing data using one or more analysis tabs. These tabs offer a range of options, including choosing columns to show, using date hierarchies, setting data filters, pivoting data, marking cells for quick statistics, and exporting data. Moreover, Analysis tabs are saved on the list, making them accessible whenever needed, enhancing reporting and data analysis capabilities.
Enhanced Productivity with Microsoft 365
Business Central seamlessly integrates with Microsoft 365 apps and services such as Outlook, Excel, Word, OneDrive, and Teams to bring data into the flow of work. With the 2023 release, businesses can benefit from enhanced adaptive cards in Teams with an optimized thumbnail view and improved permission experience. Additionally, a new settings page for configuring security controls for Teams Cards has been introduced, enhancing productivity within the Microsoft 365 ecosystem.
Faster Adaptation with Microsoft Power Platform
The 2023 Release Wave 1 aims to make it easier to set up approval workflows from within Business Central, helping users automate more processes and increase productivity. Features like Sample Apps enable businesses to get started faster with Power App development, allowing for faster adaptation and customization of Business Central to meet specific business needs.
Why Choose Us for Implementing Microsoft Dynamics 365 Business Central
We are a Microsoft Solutions Partner based in Vadodara, Gujarat, with offices across India & overseas. With over a decade of experience in Business Management Consulting, we strongly believe in and work towards Microsoft’s vision of facilitating a holistic and unified Digital Transformation for all our clients. Our highly skilled & knowledgeable Techno-Functional Consultants not only adhere to a customer-centric approach & provide our clients with round-the-clock support but also have an exceptional track record when it comes to project management and service delivery. We are committed to providing our clients with the best possible service and experience, and we firmly believe that our team of experts is the best in the business. If you’re looking for a partner that can help you with your digital transformation, look no further than us.
For more information or to book a free consultation with one of our experts, please write to us at enquiry@dhyey.com.
