Software offerings like Microsoft Dynamics 365 Finance have rapidly transformed the financial services industry, reducing costs, increasing productivity and enhancing the efficiency and quality of processes in such a way that it is now possible for suppliers, distributors and customers to exchange online information, saving time and favoring relationships.
Technological advantages and challenges faced by financial and accounting teams
Since its launch, Microsoft Dynamics 365 Finance has facilitated the daily operations of accountants and assistants, through to common end-users of the technology across departments within companies, providing a number of analysis tools for performance evaluation, control, planning and optimized decision making.
But monthly closing processes continue to be a challenge, causing, in many cases, erroneous accounting information. That’s where real-time cloud tools step in.
What is cloud accounting?
Cloud accounting brings automation and real-time control to accounting processes through the Microsoft Dynamics 365 Finance module. Its functionalities range from budget control and financial planning to the ability to generate complex reports from any place and device.
How does Dynamics 365 Finance help streamline accounting processes at monthly closing?
Dynamics 365 Finance will help your teams to:
- Generate recurring seat templates
- Establish automatic calculations (differential exchange calculation)
- Create financial reports automatically
- Accelerate report distribution processes
3 Dynamics 365 Finance features to drive better decision-making
Reconstruction of accounting and auxiliary balances
The system has the ability to regenerate auxiliary balances, such as accounts receivable, accounts payable and inventory balances records of a certain date, avoiding manual intervention and the risk lost documents.
Access to real-time information
Dynamics 365 Finance integrates processes and data through data mining and business intelligence functionality, with the added benefit of management graphics and dashboards that are updated in real-time on any mobile device.
Financial report generation tool
Dynamics 365’s Management Reporter prepares highly-detailed accounting and financial reports across any number of variables. It can schedule automatic e-mailed reports to specific recipients through configuration.
AlfaPeople is a leading Microsoft Dynamics 365 solutions partner with a 10-year track record and operations in more than 14 countries worldwide. With the integral support of our 550+ employees, AlfaPeople offers a range of Microsoft business solutions, such as Dynamics 365 Finance, Dynamics 365 Supply Chain Management, Dynamics 365 Sales, Dynamics 365 Customer Service, as well as a range of support and cloud migration services.
Contact us today to take the step in your digitization journey!