Microsoft Dynamics 365 Business Central (formerly known as Microsoft Dynamics Nav) is a comprehensive business management solution. As a modern ERP software, it is easy to configure and offers customized solutions to suit the requirement of businesses. It is scalable and can be deployed either in the cloud or on-premises without any difference in user experience. Moreover, it provides businesses with real-time insights & empowers them to grow their business the way they want it to be.
In this blog, we explore the Project Management Functionality of Microsoft Dynamics 365 Business Central. Being a core function, it facilitates the execution of numerous project management tasks efficiently. For instance, it allows businesses to configure a job, schedule resources, track machine & employee hours on a project, manage budgets as well as monitor the overall progress.
Let us now dive deeper and look at how businesses can leverage the Project Management Functionality of Microsoft Dynamics 365 Business Central and accelerate their growth journey.
FEATURES OF MICROSOFT DYNAMICS 365 BC FOR THE EFFICIENT MANAGEMENT OF PROJECTS
Project Report & Analytics
Microsoft Dynamics 365 Business Central provides businesses with several key reports . These reports offer the relevant data and insights regarding the different project activities; both past and present. By doing so it provides businesses with the much-needed visibility and agility to drive project success.
Creation of a job card
With Microsoft Dynamics 365 Business Central, businesses can create a Job Card. The job card comprises of integrated job tasks as well as job planning lines. This enables them to specify the numerous tasks involved in a job. At the same time, businesses can also track any information such as detailed use of resources, items, and general ledger expenses. It not only provides clarity regarding the job progress but also project deadlines, and budget requirements.
Allocation of Resources
The Project Management Functionality of MS Dynamics 365 BC allows businesses to allocate resources to jobs. Likewise, it also enables them to manage the resource prices. Businesses can set up discounts, job-related prices, cost factor rules, etc. on a job card. They also have the option of specifying the cost and prices for each resource group, individual resources, or all their available resources. This helps them in retrieving price & cost-related information whenever resources are used or sold in a job.
Creation of Time Sheets
Microsoft Dynamics 365 BC enables businesses to create Time Sheets. It helps them in not only tracking the time used on jobs but also in recording the resource time registration. However, businesses need to specify the setup & configuration details before they start using this feature.
Manage Job Budgets
With the Project Management Functionality, businesses can set up a budget for each job. On the one hand, a budget can be general with fewer entries. On the other hand, it can encompass more entries that are divided into different activity levels. Microsoft Dynamics 365 BC also allows businesses to compare the budget amount with that of the actual usage registered in the job journal. This not only helps businesses in tracking an ongoing project but also eliminates the risk of underestimated costs to a great extent.
Record Consumption
MS Dynamics 365BC automatically updates the usage of resources whenever businesses transfer or modify information from job planning lines to job invoices or job journals for posting. This helps businesses in keeping a track of work types, prices as well as costs that are related to jobs.
Manage Job Supplies
Using the Project Management Functionality of MS Dynamics 365BC, businesses can use purchase orders and purchase invoices for making job-related purchases or using inventory items. This allows businesses to manage the project supplies of services, items, and expenses seamlessly.
WIP
The Work in Process (WIP) feature of Microsoft D365BC enables businesses to estimate the financial value of ongoing jobs in the general ledger. It is calculated based on different parameters like cost value, sales value, completed contract, recognizable cost, percentage of completion, etc. This helps businesses in monitoring job progress as well as performance.
Invoice Jobs
With Microsoft Dynamics 365 BC, businesses can record job costs for resource usage, materials, and job-related purchases. They can do so either on an ongoing basis and invoice the customer or when the job is finished or according to an invoicing schedule.
To sum it up, Microsoft Dynamics 365 Business Central empowers businesses to manage their project management process effectively. By consolidating the data in a unified manner, it not only streamlines the core business processes but also ensures that the projects remain on time & within the budget.
Our team at Dhyey works round the clock to assist businesses in their growth journey. If your company is looking for ERP services in Gujarat or anywhere in India or around the globe, drop us an email at enquiry@dhyey.com. We would be glad to set up a free demo for your brand.
Also, as a Microsoft Gold Partner with over 11+ years of industry experience, we can assure you a seamless transition experience while upgrading from Microsoft Dynamics Nav to Microsoft Dynamics 365 Business Central. For more details, contact us at enquiry@dhyey.com.
