Most businesses today have operational or financial systems in place. However, these often exist in silos and while they get a specific job done, they are not well-suited to scaling business outcomes. This is because every business needs a consolidated view of performance across departments and units. This makes it essential to have a solution that integrates across the entire business to gather, organize, manage, and analyze essential data.
Managing supply chains, operations, reporting, finance, manufacturing, and human resource activities demands a robust ERP system that provides the transparency needed to reduce operational and administrative costs. Great ERP systems also help businesses track everything from production to distribution and from the financials to the back office. Enterprise resource planning as such has to become more unified and provide a comprehensive, 360-degree view of the organization. Unlike the monolithic ERP suites of the past, today’s businesses demand a single fluid system that enables organizations to bring all processes under one umbrella.
It’s no surprise that the global ERP market that stood at $ $39.3 billionin 2019 is projected to reach $86.3 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027.
Microsoft Dynamics – changing the ERP game
While Microsoft has always offered quite a range of ERP solutions to meet the needs of a variety of businesses across industries, Microsoft Dynamics 365 is emerging as the ERP solution that rules them all due to its functionalities and flexibility.
As ERP technology gets better at bringing processes together, Microsoft Dynamics makes sure that not only are all the data points connected within the ERP system, but the system also efficiently connects the data productivity tools, e-commerce, and even customer engagement solutions to drive better insights and intelligence. It offers a combination of best-in-class ERP, CRM, and BI solutions through modular SaaS applications and services.
Research shows that Microsoft Dynamics 365 deployments yield an average of $16.97 in returns for every Dollar spent – higher than any enterprise resource planning (ERP) and customer relationship management (CRM) tool.
Some of the reasons why Microsoft Dynamics 365 comes up top in most ERP valuations are:
A modular structure to suit different needs
Microsoft Dynamics 365 boasts of a modular structure that can be tailored to fit the appetite, maturity, and vision of different businesses. Businesses can decide which applications and functionalities they want to start with and then build more functionalities at their own pace.
Microsoft Dynamics 365 allows integration with existing or new applications and data sources and can scale up or down enabling technology solutions to grow alongside business needs.
Accessible technology that protects investments
Given the accelerated pace of technological change and evolving business needs, an ERP solution is now only as good as its capacity to evolve. Microsoft Dynamics 365 provides automatic updates and ensures that the system is on the most recent version without having to go through a full upgrade. The system is easy to configure and customize and makes it easy for organizations to cater to the changing needs of the business. Whether it is adding users, locations, or customers, Microsoft Dynamics has got it all.
Detailed insights to drive customer delight
Microsoft Dynamics 365 has CRM and ERP capabilities and integrates the data, business logic, and processes to offer automated, intelligent sales and marketing capabilities. By leveraging the real-time data and embedded analytics functionality organizations can create new profit sources, identify revenue opportunities, and powerfully leverage cross-selling and upselling opportunities.
With access to deep insights, organizations can carefully craft customer experiences and ensure that conversations with customers become more contextual and relevant and that each experience contributes to elevated levels of customer delight.
Organizations not only need to find new opportunities to improve organizational outcomes but also need to identify opportunities to optimize performance and plug revenue leaks. Microsoft 365 delivers an omnichannel solution that unifies the back-office, improves business communication, and capably automates daily processes leveraging RPA (robotic process automation).
Organizations, even in complex industries like EPC, can optimally manage resources while also fulfilling customer needs with accuracy using real-time data. Elements like project and cost management as well as production planning also become infinitely easier and more comprehensive with this ERP solution.
The suite of solutions in Microsoft Dynamics 365 is optimized by technologies such as AI and provides deep and intelligent insights that improve and augment operational performance. It also helps organizations navigate their reporting needs and challenges and helps them close their books faster, deliver robust reporting, and increase profitability with precise business intelligence.
Microsoft Dynamics 365 is a solution that is well suited across industries. In the EPC sector, this ERP system can bring in a significant wave of efficiency as it helps organizations operating in this space unify data across all fields, sites, and contracts.
It accounts for the unique needs of those organizations working in this sector and helps them utilize cloud computing to mitigate project risks and keep assets secure. It further connects the business with intelligent business applications and predictive AI-driven insights to navigate the complex EPC reporting and compliance needs while also facilitating progress monitoring, planning, and control of projects.
The deep predictive analytics capabilities help in mitigating project risks, forecasting job costs, handling possible delays, and improving equipment performance.
Enhanced data protection, secure connectivity to manage a hybrid work environment, access to centralized workforce data to drive self-service of HR tools and optimized resource utilization, simplified time tracking, easy expense management, and the capacity to adapt all financial processes to changing local and global financial requirements through automation become critical ROI contributors.
Since digitalization and automation have now become imperatives for business success across industries, a robust ERP system serves as a backbone that can help drive successful digital transformation. And Microsoft Dynamics 365 emerges as the superhero in a legion of ERPs. Connect with us to know how to get the full benefits of your Microsoft Dynamics 365 implementation.