Back in 2017, Gartner predicted that by 2020, AI would integrate into every software product. As anticipated, AI has now made its way into the realm of ERPs. AI-powered ERPs represent a significant advancement in ERP systems. Utilizing machine learning and data analytics capabilities, AI in ERP automates routine tasks, from invoice processing to performing predictive financial forecasting, enhancing efficiency and accuracy in business operations.
Given the trend, ERP giants are heavily investing in AI, with Microsoft leading the charge. Microsoft has integrated numerous AI functionalities and virtual assistants into Dynamics 365. A prime example of this trend is Copilot for Finance, which empowers finance professionals by seamlessly integrating productivity tools like Excel with existing financial systems. This integration supports critical business processes and generates real-time insights and actions, further enhancing the functionality and capabilities of Dynamics 365 Finance, a leading financial management solution.
According to the Total Economic Impact™ (TEI) study conducted by Forrester Consulting on behalf of Microsoft, deploying Microsoft Dynamics for 365 Finance offers significant potential return on investment (ROI) for enterprises.
Through this blog, let’s explore the substantial benefits highlighted by the study.
What is Dynamics 365 Finance? A brief introduction
Microsoft Dynamics 365 Finance is a comprehensive financial management software designed to help businesses manage their financial operations efficiently. It provides tools for financial planning, analysis, reporting, and financial automation (thanks to Copilot), enabling organizations to make informed decisions and drive growth.
Some of the key Dynamics 365 Finance features include:
- Financial planning and analysis: Offers advanced budgeting, forecasting, and financial modeling capabilities.
- Automated processes: Streamlines financial operations with automation, reducing manual tasks and errors.
- Global accounting: Supports multi-currency and multi-entity accounting, making it ideal for global businesses.
- Real-time insights: Through advanced financial reporting capabilities, it provides real-time financial insights and analytics to help businesses make data-driven decisions.
- Compliance and risk management: Ensures compliance with local and international regulations and helps manage financial risks.
Further readings: Discover how CFOs can benefit from Dynamics 365 Finance
