Microsoft uncovered their cloud-based enterprise resource planning (ERP) system, Dynamics 365, in early November. As a potential business intelligence (BI) customer, you’re probably curious about your reporting and budgeting processes in the context of moving towards a cloud-based ERP system. This article focuses on the next steps to take for your reporting and budgeting in regards to Microsoft’s Dynamics 365 unveiling.
Microsoft Dynamics is a power player in the business applications world so, as you can imagine, once Microsoft released Dynamics 365, people also knew that things in the BI realm were going to change without a doubt. There has been a lot of confusion around Dynamics 365, to make things clear, Solver CEO Nils Rasmussen explains that “Dynamics 365 is really two ERP systems. One is the lower end version of Dynamics 365, based on the NAV product in its structure. The higher end version of Dynamics 365 is based on Dynamics AX and is for the higher end of the market.” Both systems are architected for and deployed in the Microsoft Azure cloud, and it’s all hosted and managed by Microsoft.
If you are planning to implement or already using Dynamics 365, NetSuite, Acumatica, or Intacct, you might find yourself shopping for a new budgeting and reporting tool to also benefit from a modern Corporate Performance Management (CPM) solution. You have several options: For example, your company can rely on the native budgeting features and reporting options that comes embedded in the ERP system, but in most cases this means that you will end up exporting data to Excel to design your favorite budget model or to professionally format financial reports. Another option is that to implement a modern web-based CPM solution that integrates well to your cloud-based ERP system. The last option gets to the point: go out and shop for a new tool!
The cloud ERP market is escalating. As reporting and budgeting solutions continue to get smarter, a number of modern, cloud-based solutions are starting to appear in the BI marketplace and many will offer easy-to-use, pre-built integrations to ERP systems like Microsoft Dynamics 365. As you research and look into more corporate performance management (CPM) tools, you will notice that some of them are on-premises, some of them are cloud-based, and others are hybrid tools. Top-notch CPM tools that are cloud or web-based platforms such as Adaptive Insights, Anaplan, Host Analytics and BI360 are great options. If you are skeptical about moving everything to the cloud, continue to choose to keep certain business applications on-premises if you’d like, but also plan for the future.
To continue learning about the Cloud ERP revolution, read the rest of the article