|by Tim Tishman, CPA|
Hot off the press - Microsoft just introduced Microsoft Dynamics 365 Business Central, previously code-named “Tenerife.” Business Central is the newest version of Dynamics 365 for Finance and Operations, Business Edition and has full Dynamics NAV capabilities. The target market is medium-sized businesses who have outgrown their small business accounting software. Upgrading or moving to Business Central will be similar to upgrading to Dynamics GP, except this solution is entirely cloud-based and deployed from the Microsoft Office 365 Portal. Being completely cloud-based means easy integration with external systems and services by using the robust API. If you are looking for an Amazon-like marketplace for extensions that are constantly being built, then you will love the experience of App Source. Take a look at App Source for yourself now:
Our current D365 for financials clients will be familiar with this new upgraded product but will experience the new capabilities and a refreshed and modern user experience, optimized for insights and productivity. And yes, there is grandfathered pricing for existing clients. It will only be a $2/month bump for normal users during the upgrade - available starting April (subject to change until locked in).
Other features current clients will be familiar with are:
- Business without silos. An advantage this product has over its cloud competitors is delightful integration with the Office suite - so you can boost efficiency with seamlessly integrated tools such as Outlook, Word, and Excel
- Dynamics 365 Business Central comes with easy integration to Power BI, PowerApps, and Flow, so that you can configure capabilities and implement business flows without writing a single line of code
- A new feature with this product update is the simple ability to customize each client’s environment using a web designer. With this tool, you can do such things as hide fields or boxes that you find unnecessary or confusing
- Strong and customizable dashboards to suit all of your key performance indication needs
- Complete mobile app support, meaning anything you can do on your computer within the software, you can also do on your smartphone
- General Data Protection Regulation (GDPR) - Investments address the European privacy law’s requirements (good if you are in the US as well)
- ISO and SOC compliance
- Modules include Basic General Ledger, Budgets, Deferrals, Basic fixed assets, Audit trails, Bank account management, Reconciliation, Dimensions, Multiple Currencies, Contacts, Campaigns, Opportunity management, Dynamics 365 for Sales integration, Sales order management, Basic receivables, Purchase order management, Locations, Item transfers, dashboards
- New available features to incorporate the full breadth of dynamics NAV such as:
- Human resources - such as Employees, Expense management (this is a new update!)
- Project management - such as Resources, Estimates, Jobs, Time
- This is all covered by the Essentials license ($70/month) but to experience the full functionality you will want to upgrade to the Premium
- Premium modules include:
- Service order management - such as service orders, service price management, service item management, service contract management, planning, dispatching
- Manufacturing - such as product orders, version management, agile manufacturing, basic supply planning, demand forecasting, capability planning, machine centers, finite loading
The most tantalizing Premium module in the DC Metro Area will be the service contract management module. With this module you can record details on service levels, response times, and discount levels, as well as on the service history of each contract, including used service items and parts and labor hours.
There is also transition pricing for those not on the old version of Dynamics 365 for Financials, but this pricing is subject to change, please consult price list for actual pricing.
To learn more about the new Dynamics 365 Business Central visit the Microsoft website: