How Business Central helps you manage projects, sales, and finances across multiple countries and currencies, and how it compares to Dynamics 365 Finance and Supply Chain
Microsoft Dynamics 365 Business Central is a cloud-based enterprise resource planning (ERP) solution that helps small and medium-sized businesses manage their finances, operations, sales, and projects. It is designed to be easy to use, flexible, and scalable, and to integrate with other Microsoft products and services.
One of the key features of Business Central is its ability to handle multiple currencies and tax regulations, which is essential for businesses that operate in different countries or regions. Business Central also offers powerful project management capabilities, such as budgeting, resource allocation, invoicing, and reporting. Moreover, Business Central enables you to control and automate your sales processes, from creating and sending quotes to managing orders and invoices.
In this document, we will explain why Business Central is a good solution for businesses that run projects in multiple countries and currencies and want to control sales quotes and manage sales centrally. We will also compare Business Central to another Microsoft Dynamics 365 product, Finance and Supply Chain, which is a more comprehensive and complex ERP solution for larger and more diversified businesses.
Business Central for global project-based businesses
Business Central is a great choice for businesses that run projects in multiple countries and currencies, because it allows you to:
- Set up and maintain multiple currencies and exchange rates, and automatically calculate currency gains and losses.
- Configure and apply different tax rules and rates for different countries or regions, and generate tax reports and statements.
- Create and manage projects with multiple tasks, phases, and budgets, and track project progress and profitability.
- Allocate and bill resources, such as employees, equipment, or materials, to projects, and track their costs and utilization.
- Create and send quotes, orders, and invoices in different currencies and languages, and apply discounts, surcharges, or fees.
- Manage customer and vendor relationships, contracts, and payments across multiple locations and currencies.
- Consolidate and analyze financial data from multiple companies, subsidiaries, or divisions, and create financial reports and dashboards.
Business Central also integrates with other Microsoft products and services, such as Outlook, Teams, Power BI, and Power Automate, to enhance your productivity, collaboration, and automation. For example, you can:
- Create and send quotes, orders, and invoices from Outlook, and track their status and history.
- Collaborate with your team members and customers on projects, tasks, and documents using Teams.
- Create and share interactive reports and dashboards using Power BI, and access them from any device.
- Automate workflows and tasks using Power Automate, such as sending notifications, reminders, or approvals.
Business Central vs. Finance and Supply Chain
Microsoft Dynamics 365 Finance and Supply Chain is another ERP solution that helps large and complex businesses manage their finances, operations, supply chain, and manufacturing. It is more advanced and comprehensive than Business Central, but also more expensive and difficult to implement and customize.
Some of the main differences between Business Central and Finance and Supply Chain are:
- Business Central is cloud-based, while Finance and Supply Chain can be deployed on-premises, on the cloud, or in a hybrid model.
- Business Central is designed for small and medium-sized businesses, while Finance and Supply Chain is designed for large and enterprise-level businesses.
- Business Central is more user-friendly and intuitive, while Finance and Supply Chain is more complex and requires more training and support.
- Business Central has more built-in features and integrations, while Finance and Supply Chain requires more customization and add-ons.
- Business Central has a lower total cost of ownership, while Finance and Supply Chain has a higher total cost of ownership.
Therefore, Business Central is a better option for businesses that run projects in multiple countries and currencies and want to control sales quotes and manage sales centrally, because it offers more flexibility, simplicity, and affordability, while still providing the essential functionality and integration that you need.
Conclusion
Microsoft Dynamics 365 Business Central is a cloud-based ERP solution that helps you manage your finances, operations, sales, and projects across multiple countries and currencies. It is easy to use, flexible, and scalable, and integrates with other Microsoft products and services. It is a good solution for businesses that run projects in multiple countries and currencies and want to control sales quotes and manage sales centrally, because it allows you to set up and maintain multiple currencies and tax rules, create and manage projects and budgets, allocate and bill resources, create and send quotes, orders, and invoices, manage customer and vendor relationships and payments, and consolidate and analyze financial data. It is also a better option than Microsoft Dynamics 365 Finance and Supply Chain, which is a more advanced and comprehensive ERP solution, but also more expensive and difficult to implement and customize.
Take the next step
Staying ahead of change and competition is essential to growth and sustainability. Your business needs a cloud-based ERP system that can be customized to support your organization’s present goals and vision for the future. To get started with Dynamics 365 Business Central now, call or email David Blumentals, Director, Dynamics 365 Practice, David@d365.Global, +61 409 245 354.
