Microsoft commissioned Forrester Consulting to assess the economic impact of Dynamics 365 Finance.
Finance ERP (Enterprise Resource Planning) system is inevitable for organizations aiming for financial sustainability. Microsoft solutions are well-known for their reliability among ERP packages.
Microsoft Dynamics 365 Finance, a popular financial software solution, has gained recognition from top enterprises for effectively managing finance operations. To further verify its impact across industries, Microsoft commissioned Forrester Consulting to evaluate the financial benefits of Dynamics 365 Finance.
Forrester Consulting conducted a TEI study on behalf of Microsoft, sharing the expected ROI that enterprises can achieve by implementing Microsoft Dynamics 365 Finance. The study results provide insights into the potential benefits of the financial solution.
Microsoft Dynamics 365 Finance
Dynamics 365 Finance leverages the power of Microsoft cloud to drive operational efficiency and financial performance while safeguarding existing investments. Enterprises can use real-time insights to business bottom line and automation capabilities to accelerate productivity. Seamless integration with other Microsoft technologies ensures organizations can achieve their business goals. Organizations can reduce additional recruitment, burden on employees, and modernize systems.
Forrester Consulting Study
The study by Forrester consulting provides you a framework to evaluate the likely financial impact of D365 Finance within your business. Forrester interviewed four companies that are using Dynamics 365 Finance.
As per them, prior to using D365, they were hindered by their on-premises, customized finance ERP solutions. Their employees met trouble going through manual processes while organizations lacked real-time insights and the flexibility to keep up with the growth in the market.
Moving to Dynamics 365 Finance Cloud gave them the fresh lease of life by offering more opportunities. Now the financial processes were optimized, infrastructure costs have been reduced, gained employee productivity, and maximized growth.
Important findings of the Forrester Consulting
Based on real-world interviews with four organizations, there have been improvements in finance staff productivity, IT staff productivity, legacy cost savings and other benefits.
Improvement in productivity of finance staff
Prior to Dynamics 365 Finance, interviewees stated that the staff’s productivity decreased through manual processes such as manual report creation and distribution. This means the effort of more employees. Moreover, with the legacy Finance ERP systems, the standardization of the processes was almost impossible.
Migrating to Dynamics 365 Finance helped organizations to optimize and streamline financial processes. In addition, these organizations leverage real-time information to make better financial decisions, and ultimately improve finance staff productivity. This resulted in avoiding adding more headcounts to the processes. This resulted in approximately $2.3 million in productivity savings.
Improvement in productivity of IT staff
Moving from on-premises legacy systems to cloud-based D365 Finance improved the productivity of IT staff. Actually, the interviewed organizations had faced several challenges with the legacy finance ERP systems. On the flip side, organizations had to spend a lot on customization to maintain the functionality. Spending too much on resources and expertise has become challenging.
By streamlining with Dynamics 365 Finance, these organizations considerably reduced the IT spending on customization and other things. D365 Finance provides more functionality and capabilities needed by modern businesses, so almost no customization is required.
Savings on legacy costs
D365 Finance has enabled organizations to save on infrastructure and other support costs that would have been incurred with their legacy ERP systems. The move to D365 helped them to reduce infrastructure expenses, redundant ERP costs across locations, financial auditing spending, and scaling costs. Keeping away from such costs resulted in savings of approximately $3.52 million over three years.
D365 Finance Benefits
Provides visibility and access to real-time data: Dynamics 365 Finance improve organization’s finance decision making by providing visibility and access to accurate real-time data. It also helps to improve business agility.
Business continuity: Dynamics 365 Finance in the cloud is more stable than legacy on-premise systems. This means organizations don’t have to worry about the possibility of disruptions to finance and other processes.
Enhanced regulatory compliance: Dynamics 365 Finance decreases financial complexity and risk, helping organizations to accelerate global expansion by adapting to the changing regulatory needs.
Productivity of finance staff: Through the automation of various tedious and repetitive finance processes, the organization’s finance personnel productivity will be enhanced and can focus on other critical decision making processes.
Integration with other Microsoft Solutions: Dynamics 365 Finance is easily integrated with Microsoft solutions like Microsoft 365, Microsoft Power Platform, other Dynamics 365 apps and third-party apps.
Dynamics 365 Finance Costs
Dynamics 365 subscription fees: Organizations have to subscribe Microsoft Dynamics 365 Finance based on per-user or per-month basis.
Implementation and support: The organization team up with an experienced Microsoft Partner to plan, deploy and support its D365 Finance implementation.
Considering the immense benefits of this Financial Management Software from Microsoft, you can make a transition from your on-premises legacy ERP to Dynamics 365 Finance cloud.
Microsoft Dynamics 365 Finance is a standard financial ERP solution you can implement to improve finance performance and business growth. Finance insights, automation and along with various other new functionalities, the solution helps you stay on top of your finance processes, enabling you thrive in a challenging business environment. Automation frees up your financial team’s time to focus on other vital financial activities. This enhances workforce productivity and maximizes revenue.
Dynamics 365 Implementation partner plays a crucial role. Therefore, it is very important to choose a reliable Microsoft Gold partner that can plan and implement Dynamics 365 Finance as per your business financial requirements.
You can purchase suitable Dynamics 365 Finance license from Microsoft Certified Gold Partners. Working with a Microsoft Dynamics 365 partner like LITS SERVICES can provide additional benefits such as access to technical support and expertise in the financial domain. Moreover, you can get the D365 Finance solution customized to your specific business needs.
LITS SERVICES is a Microsoft Dynamics 365 Finance partner with a strong presence in the UAE and several other Middle East countries. As a certified partner, they offer a range of services, including Dynamics 365 implementation, training, and support, to help organizations harness the power of Dynamics 365 Finance.