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Dynamics 365 for Financials: No New Dynamics NAV

In November last year, Microsoft launched its new cloud-based solution Dynamics 365 on the North American market. Release in four more European countries is planned for this year. The Business Edition of the product, which includes Dynamics 365 for Financials (Project Madeira), is based on Dynamics NAV, but varies from the ERP system in many aspects.

Microsoft Dynamics 365
Source: Microsoft

Although Dynamics 365 for Financials includes some of the functions of Dynamics NAV, it is not meant to and will not replace it – Dynamics NAV will be developed further in future as well. Unlike the latter, which can be run on-premise, via a private cloud or Microsoft Azure, Dynamics 365 for Financials is a purely cloud-based solution. Since the features of the platform are reduced mainly to basic functionalities of the financial accounting areas, sales and purchasing, it is particularly suitable for small and medium-sized organisations. The simplified functional scope, the high user-friendliness of the intuitive application, as well as assistants and tutorials ensure comfortable acclimatisation and quick understanding in Dynamics 365 for Financials – especially for beginners. Dynamics NAV, on the other hand, comes up with far more extensive processes and additional modules (e.g. assets, production, service and project module), but is also more complex in use.

Comfortable platform expansion via apps and extensions

The flexible cloud platform Dynamics 365 for Financials enables to put the entire system individually together for oneself from various business apps and to adapt it to the requirements of the company, the industry or the role of the user. The corresponding applications can be obtained via Microsoft AppSource and can be supplied and used independently of each other.

For example, you can start with a few fundamental apps and add more as needs rise. The solution deployed includes only functionalities that are actually required in day-to-day operations. Thanks to this flexibility of Dynamics 365 for Financials and the opportunity to implement changes and expansions even without the help of the IT department, it is possible to react quickly and easily to the constantly changing market or company conditions.

Starting with the current 2017 version, the classic Dynamics NAV can also be expanded conveniently thanks to the extensions available. In addition, basic objects in NAV can be changed directly, thus allowing even the most customised adjustments. Updating the respective additional modules in Dynamics 365 for Financials and Dynamics NAV has different levels of difficulty. While Microsoft updates the applications acquired via the AppSource along with the basic application on a monthly basis automatically, extensions installed and basic objects adjusted in Dynamics NAV must always be migrated separately in the event of an update.

Productivity through integration

In Dynamics 365 for Financials – as in Dynamics NAV 2017 – the simple integration of Office 365 ensures particularly high productivity in everyday business processes. For example, the optimised interaction with applications such as Outlook or Excel accelerates the workflow and makes it more efficient – especially when it comes to teamwork. Moreover, by using Cortana Intelligence and Power BI, the platform can be used to analyse business data.

Microsoft’s new cloud solution Dynamics 365 for Financials impresses above all with its user-friendliness and expandability, which are aimed mainly at small and medium-sized companies. Before the calendar year ends, the Business Edition of Dynamics 365 is to receive a sales and marketing module, which brings down the total solution moreover the offered ERP functionalities to a round figure. Thanks to the reduced functional scope of the platform, setup and use remain always intuitive and simple. However, companies with more complex requirements in the ERP area as well as larger data quantities to be processed in particular will be in better hands with the functionally far more comprehensive Dynamics NAV solution.

If you have any questions as which is the right solution for your company to choose, do not hesitate to contact us. We will gladly present the options to you in both solutions.

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