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Microsoft Dynamics 365 Enterprise Edition - Financial Management

You're reading from   Microsoft Dynamics 365 Enterprise Edition - Financial Management Maximize your business productivity through modern financial management in Dynamics 365

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Product type Paperback
Published in Mar 2018
Publisher Packt
ISBN-13 9781788839297
Length 562 pages
Edition 3rd Edition
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Author (1):
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Mohamed Aamer Ala El Din Mohamed Aamer Ala El Din
Author Profile Icon Mohamed Aamer Ala El Din
Mohamed Aamer Ala El Din
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Table of Contents (18) Chapters Close

Preface 1. Getting Started with Microsoft Dynamics 365 for Finance and Operations 2. Understanding the General Ledger FREE CHAPTER 3. Exploring Financial Dimensions 4. Understanding Sales Tax 5. Working with Currencies 6. Understanding Accounts Payable Basics and Controls 7. Exploring Accounts Payable Transactions 8. Understanding Accounts Receivable 9. Understanding Cash and Bank Management 10. Functioning of Cash Flow Management 11. Exploring Budgeting 12. Working with Intercompany Accounting 13. Working with Consolidation and Elimination 14. Working with Cost Management 15. Exploring Fixed Assets 16. Exploring Financial Reporting and Analysis 17. Other Books You May Enjoy

Exploring key intentions of ERP implementations

Enterprises that intend to implement  Microsoft Dynamics 365 for Finance and Operations Enterprise edition pursue a variety of common benefits from ERP, but in most projects there are no well-defined benefits that the organization's management agreed on, and no roadmap to help them accomplish those intentions. It is vital to plan an ERP implementation carefully. In the sections that follow, we will look at the key objectives of ERP implementation.

An organization can have a legacy system and manual business processes, and they need to be unified by one single integrated application to manage, operate, and control the business areas and deliver reports to management, as shown in the following diagram:

 

Enterprises that have decided to implement ERP should be coordinating together with a consulting partner specializing in Microsoft Dynamics 365 for Finance and Operations. The customer and partner should plainly outline the objectives of the ERP solution as early as possible in the diagnostic phase. They can replace the legacy system and reduce manual business processes by automating the business processes using the ERP solution in organization departments. Samples of ERP implementation intentions are as follows:

  • Business process: This comprises the following:
    • Business process automation
    • Streamlined business process in cross-function operations
    • Unified business process across holdings and subsidiaries
    • Single point of contact for reducing redundant data within departments
  • Controlling: This comprises the following:
    • Segregation of duties and data access privileges
    • Advanced workflow and approval matrix ceiling
    • Tracking the actual costs against budgeted
    • Inventory tracking and cost control
  • Decision support: This comprises the following:
    • Real-time and ad hoc reports for all organization levels
    • Dynamic and dimensional reports
    • Key Performance Indicators and indicator dashboard
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