Minimize costs and optimize spending through D365’s process automation, budget control, and financial planning and analysis. Manufacturers can make faster business decisions, create a high-level view of key business metrics, and use interactive data visualization to improve business health and performance. Not only do automated tasks and processes reduce and manage business risks, but they also minimize costs. Saved time and labor costs work to increase workflow and productivity, getting more done with integrated tools and applications.
Operating Expenses
Your business balance sheet and income statements quickly reveal your revenue and costs, but what are the elements that make up those costs?
- Cost of goods sold – what you spent to provide goods and services to your customers
- Labor – payroll expenses amount to one of your largest operating expenses
- Sales commissions – if your business includes a team with commissions and other incentives
- Benefits – health insurance, retirement contributions, etc. – another significant expense
- Depreciation and amortization
- Rent or facility payments
- Building and equipment maintenance
Optimize Financial Operations
With D365 for Finance, you can consolidate data from numerous sources and gain a clear view of your business. Financial process automation, budget control, and analysis features all work to run your operations with maximized overall visibility. Today most organizations are experiencing challenges and making unanticipated business decisions. By simplifying and automating financial operations through D365, you can reduce risk and modernize your global financial operations. Asset leasing helps you adapt and be compliant with the FASB and IFRS 16 accounting regulations, related to lease management and its financial impact. Such features reduce manual errors and save your users time through automatic lease status updates, right of use assets, holistic monitoring and analytics, and calculations of net present value, lease interest, and future cash payments.
Adapt Quickly and Reduce Costs
Operational complexity intensifies as organizations grow and expand. This can make maintaining compliance and adapting to frequently changing regulations a challenge. The following updates in Dynamics 365 alleviate challenges related to some of the most manual and error-prone processes in finance.
- Vendor invoice automation: Save time and reduce labor costs by enabling straight-through, touchless invoice processing.
- Expanded localizations: Out-of-the-box or region-specific functionality has been expanded to 42 countries and regions to include Bahrain, Hong Kong SAR, Kuwait, Oman, and Qatar. There are also more than 40 ISV localization solutions at AppSource to consider.
- Electronic Invoicing add-on for Dynamics 365: The world is shifting to paperless document processing and, without implementing electronic invoicing, customers’ risk compliance issues, unnecessary costs, and lagging behind competitors.
Next Steps
If you are interested in learning more about reducing operational expenses as well as maximizing the use of Microsoft Dynamics 365 for Finance and Supply Chain Management contact us here to find out how we can help you grow your business. You can also email us at info@loganconsulting.com or call (312) 345-8817.
