May 9, 2023
6 min readIntroduction
Advancements in technology have transformed the modern business world. Investing heavily in innovative software solutions is common among companies of all sizes to improve operations, increase efficiency, and enhance customer experiences. One such software solution is Microsoft Dynamics 365.
This article intends to provide you with the following information: "What is Microsoft Dynamics," "What Dynamics 365 includes," and "What is the use of Dynamics 365."
What Is MS Dynamics 365?
Microsoft Dynamics 365 is a collection of cloud-based business applications for customer relationship management (CRM), enterprise resource planning (ERP). It combines traditional ERP and CRM functionalities with advanced analytics, artificial intelligence (AI), and Internet of Things (IoT) capabilities to provide businesses with a comprehensive solution to manage their operations. Also, it has applications for customer service, project management, e-commerce, and marketing.
A LITTLE HISTORY
Back in 2006, Microsoft united its software solutions for businesses into a Microsoft Dynamics brand. It included one CRM application (Microsoft CRM) and four ERP apps: Dynamics AX (Axapta), Dynamics NAV (Navision), Dynamics GP (Great Plains), and Dynamics SL (Solomon).
After developing cloud-business solutions in 2016, Microsoft successfully transformed Dynamics into Dynamics 365 (shortly D365).
What Does Dynamics 365 Include?
Microsoft Dynamics 365 includes a range of applications that provide businesses with an end-to-end solution for managing their operations. Each program is highly effective when used individually and perfectly combines and complements each other. These applications include:
SALES
This module presents an array of functionalities, including sales forecasting, lead and opportunity management, product catalog management, and quote and order management. Furthermore, D365 Sales integrates seamlessly with Dynamics 365 Marketing and Customer Service to offer a comprehensive outlook of customer interactions and enhance overall sales performance.
CUSTOMER SERVICE
Dynamics 365 for Customer Service helps businesses improve communication through self-service portals and support agents. It aims to win customers for a company`s entire life via automated self-service support systems, tailored customer interactions, enhanced agents` productivity through AI-driven tools, and optimized customer experience using AI-driven insights.
MARKETING
D365 Marketing is an all-inclusive e-commerce solution designed to assist businesses in connecting with customers and expanding their growth potential. This software encompasses a range of features such as email marketing, campaign management, event coordination, segmentation, personalization, and marketing analytics.
FIELD SERVICE
Field Service is a module of the Dynamics 365 suite that focuses on planning and allocating resources, managing on-site service contracts, and delivering exceptional customer service. It uses AI-driven tools and IoT signals to provide insights and remote support for field service technicians, improving their effectiveness and boosting first-time fixed rates.
FINANCE
Dynamics 365 Finance helps organizations manage their financial operations, such as accounting, budgeting, financial planning, and cash flow management. It provides real-time visibility into financial performance, automated financial processes, and advanced analytics to help businesses make informed decisions.
SUPPLY CHAIN MANAGEMENT
Supply Chain Management is a module of the Dynamics 365 suite that helps businesses optimize and streamline their supply chain operations. It allows organizations to gain visibility into their inventory, warehouse operations, and production processes, enabling them to make data-driven decisions and improve efficiency.
HUMAN RESOURCES
Dynamics 365 for Human Resources is a cloud-based module that helps businesses manage and optimize their human resources functions. It is connected to LinkedIn to help identify and recruit top talent. The module offers tools for HR management, compliance, compensation, and workforce insights. It aims to create a productive and healthy workplace for employees and businesses.
PROJECT OPERATIONS
D365 Project Operations is a module combining project management and resource management capabilities. It allows businesses to manage projects, resources, and finances in a single solution, providing real-time visibility and control over project performance. The module includes project planning and scheduling, resource allocation and management, time and expense tracking, invoicing, and revenue recognition.
There are several more business applications worth mentioning, such as Commerce, Business Central, Fraud Protection, Remote Assist, Product Visualize, Guides, Connected Store, Customer Insights, and Customer Voice.
What Is Microsoft Dynamics 365 Used For?
Microsoft Dynamics 365 is used by businesses of all sizes to manage their operations more effectively. The solution is viral among companies that require end-to-end software as a service (SaaS). Microsoft Dynamics 365 is used for a range of purposes, including:
Improving operational efficiency.
Microsoft Dynamics 365 offers businesses a complete solution for managing their operations, which helps to improve their efficiency and reduce costs. With workflow automation and process optimization features, companies can easily streamline their workflows and eliminate redundant tasks, leading to enhanced productivity and faster turnaround times.
Enhancing customer experiences.
Dynamics 365 equips businesses with efficient tools for managing customer interactions, enabling them to deliver exceptional customer experiences. By providing companies with access to customer information across various channels, Dynamics 365 allows them to understand their customers` needs better, respond to their queries promptly, and offer personalized services that exceed their expectations.
Enabling data-driven decision-making.
With its real-time insights and analytics capabilities, Microsoft Dynamics 365 enables businesses to make data-driven decisions. By providing businesses with a holistic view of their operations, including customer interactions, sales, and finances, Dynamics 365 empowers companies to identify trends, evaluate performance, and uncover growth opportunities.
Streamlining business processes.
MS Dynamics 365 provides businesses with tools for automating their business processes, enabling them to streamline their operations. From automating repetitive tasks to simplifying complex workflows, D365 offers businesses the flexibility to optimize their strategies according to their unique requirements, resulting in increased efficiency, reduced costs, and improved accuracy.
How Much Does Microsoft Dynamics Cost?
Microsoft Dynamics 365 offers a modular approach to its software applications, allowing businesses to customize the solution based on their needs. The pricing of Dynamics 365 varies depending on the modules and the type of licensing agreement.
Most Dynamics 365 modules follow a base-attach model. A base license must be purchased at the total price and used in any modules. Attach Licenses can be purchased at a reduced cost to add functionality. To optimize the D365 licensing budget, we suggest using the handy License Calculator add-on.
Summary
There are numerous possibilities for companies that use Microsoft Dynamics 365, thanks to its advanced technology, flexible settings, adaptability, and seamless integration. It enables businesses to stay ahead of the competition.
Maximize your productivity with minimal effort. If you are already a Dynamics 365 user, we offer custom settings to boost your business`s productivity. And if you are considering starting with D365, we can be your dependable implementation partner.