Microsoft Dynamics 365 Business Central is designed to deliver powerful benefits to project-based organizations. If you want to transform the way you budget, manage, schedule, track, and bill your projects to make your office more efficient and your business more profitable, read on.
All project-based organizations share a common goal of making projects more profitable and being able to accurately measure that profitability. Microsoft Dynamics 365 can help your company do that.
Microsoft Dynamics 365 gives you:
Traditionally, allocating time and expense has been a project in itself. Collecting time and expense information for each job, allocating it to the correct project, and entering it into your ERP system has been both labor-intensive and time-consuming. And each channel that information passes through presents an opportunity for error. With Microsoft Dynamics 365, time and expense entry is automated. Information for each project can be entered and automatically posted to the appropriate job, even by your employees in the field using their mobile devices. No more duplicate entry or overlooked items.
The key to profitable projects begins with the planning. With the powerful project planning tools in Microsoft Dynamics 365, you can plan your projects as deeply and with as much detail as you desire. Manage your entire project start to finish. Add or subdivide tasks and requirements for each project as well as planning for resources across multiple projects.
With the ability to post all items, resources, and miscellaneous GL expense to each job, you can have a comprehensive picture of the profitability of each segment, each project as well as of the business as a whole. You’ll be able to compare actual costs against the budgeted costs, including expenses. Track the profitability of each job or see the overall profitability of the entire project. Because information is available in real time, you’ll be able to make necessary adjustments at any point in the process. And this information is available instantly, from any device to give you a true picture of your projects’ profitability.
Dimensions is a really exciting feature in Dynamics 365. Dynamics 365 Dimensions help you streamline and simplify your chart of accounts. Dimensions are used to group or categorize data for the purpose of analysis. Without having to create individual GL accounts for all the groups or categories you want to track, Dimensions allows you to slice and dice your project financial data by any parameters you choose.
Because Dimensions give you the ability to sort your data by basically any category you choose, your financial reports can be as specific as you want. Do you need to see profitability by project, division, department, location, employee? Dynamics 365 can automatically post your items, invoices, etc. to the appropriate dimension, and then show you the data in any form you wish. Power BI allows you to view your information in customizable dashboards and reports.
The benefits we have discussed are possible with Dynamics 365 Business Central Essentials which is the most affordable Dynamics 365 plan. Even better, some of the tasks only require you to add a “team member” user to your Dynamics 365 Business Central Essentials (or Premium) subscription at a much lower cost than adding a full user. So even with a minimal investment, you can transform the way you manage, track, bill, and evaluate your projects. You can expand your capabilities even further with Microsoft Dynamics 365 for Finance and Operations. Both solutions provide rapid ROI with low total cost of ownership.
To learn more about the feature rich Microsoft Dynamics 365 for Projects and take the first step in your digital transformation, contact our experts at Western Computer.
By Western Computer, www.westerncomputer.com