Digital Transformation for Financial Services
Business Central for Financial Services
Financial Management
Business Central includes a standard configuration of most financial processes, but you can change the configuration to suit your business. The default configuration includes a chart of accounts and standard posting groups that make the process of assigning default general ledger posting accounts to customers, vendors, and items more efficient.
Financial Reports and Analytics
Financial reporting in Business Central allows financial and business professionals to create, maintain, deploy, and view financial statements. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Business Central includes several reports, tracing functions, and tools that help auditors or controllers who are responsible for reporting to the finance department.
Beyond QuickBooks
As your business grows, you take on responsibilities and expectations that your previous operations simply weren’t designed to handle. At some point, the patterns and resources you’ve always relied on just don’t quite work like they used to. Work wherever your business takes you, with full capabilities on desktop, tablet, mobile, or in the cloud.
Activate Financial Insights
Better manage your cash flow, bank reconciliations, fixed assets, budgeting, and project costing while shortening cycle times with late payment-prediction extention. Connect reports, charts, and Power BI data from across accounting, sales, purchasing, and inventory teams to get accurate insights and make financial decisions with confidence.
Accelerate Sales Processes
Prioritize leads based on revenue potential. Keep track of customer interactions and get guidance on the best upsell, cross-sell, and renewal opportunities throughout your sales cycle.Track customer agreements to quickly access details about prices, discounts, delievry dates, product availability and fullfillment status, right inside Microsoft Outlook.
Managing Receivables
A regular step in any financial rhythm is to reconcile bank accounts, which requires that you apply incoming payments to customer or vendor ledger entries to close sales invoices and purchase credit memos as paid.
Accounts Receivable Analytics
To help you manage your accounts receivable in Business Central, standard reports and analytics are built in. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Streamline accounting workflows Effectively manage accounting tasks and eliminate manual processes, freeing up time to take on new clients and better serve existing ones.
Take Control
Better manage your cash flow, bank reconciliations, fixed assets, budgeting, and project costing while shortening cycle times with the late payment–prediction extension.
Maximize Visibility
Use built-in reports, Excel, or Microsoft Power BI and unlimited data dimensions to get real-time cash flow, identify financial patterns, analyze trends, and improve business planning.
Better Reporting
Connect reports, charts, and Power BI data from across accounting, sales, purchasing, and inventory teams to get accurate insights and make financial decisions with confidence.
Managing Payables
A big part of managing accounts payable is paying your vendors, or reimbursing your employees for expenses. To help you manage your accounts payable in Business Central, standard reports and analytics are built in. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Accounts Payable Reports
Another typical task is to apply outgoing payments to their related vendor or employee ledger entries in order to close purchase invoices, purchase credit memos, or employee accounts as paid. To help you manage your accounts payable in Business Central, standard reports and analytics are built in. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Accelerate financial closing and reporting: Reduce month- and year-end closing times with connected general ledger, accounts receivable, payables, and fixed assets data. Streamline approval workflows using Power Automate.
Business Intelligence
Businesses capture a tremendous amount of data through daily activity. This data, which reflects such things as the organization's sales figures, purchases, operational expenses, employee salaries, and budgets, can become valuable information, or business intelligence, for decision makers. Business Central contains a number of features that help you gather, analyze, and share your company data.
Financial Reports
Financial reporting in Business Central allows financial and business professionals to create, maintain, deploy, and view financial statements. It moves beyond traditional reporting constraints to help you efficiently design various types of reports. Business Central includes several reports, tracing functions, and tools that help auditors or controllers who are responsible for reporting to the finance department.
Analyze Data by Dimensions
In financial analysis, a dimension is data that you can add to an entry as a kind of marker. This data is used to group entries with similar characteristics, such as customers, regions, products, and salesperson, and easily retrieve these groups for analysis. Dimensions can be used on entries in journals, documents, and budgets. The term dimension describes how analysis occurs.
Project Management
In Business Central, you can perform common project management tasks, such as configuring a job and scheduling a resource, as well as providing the information needed to manage budgets and monitor progress. You can track employee hours on the project by using time sheets.
Project Reports and Analytics
Project reporting in Business Central allows project and business professionals to get insights and statistics about current and past project activities.
Job Analysis - analyzes your job by using settings that you specify. For example, you can create a report that shows you the budgeted prices, usage prices, and billable prices, and then compares the three sets of prices.
Use Time Sheets
You can use time sheets in Business Central to track absence, and to track time and resources that are spent on a project. With time management, you can identify issues early, and avoid delays or cost overruns. With time sheets, a resource can easily report time usage for an individual or a machine, and a manager can easily review the usage and its allocation.
Manage Job Budgets
You can set up a budget for each job. The budget is used to plan the resources that you allocate to a job. The budget can be either general with few entries or it can contain more entries that are divided into activity levels. You can then compare the budgeted amounts with the actual usage as recorded in the job journal.
Monitor Job Progress
With the work in process (WIP) feature you can estimate the financial value of ongoing jobs in the general ledger.As a job progresses, materials and resources are consumed and expenses incurred that must be posted to the job. In many cases, you might post expenses for a job before invoicing. But if only expenses have been posted, your financial statement is inaccurate.
Managing Relationships
The relationship management features of Business Central help you manage and support your sales efforts. With these features, you have access to complete and accurate information so you can focus your interactions on preferred customer/contact segments.
Best Practices
Good sales and marketing practices are all about how to make the best decisions at the right time. Business Central provides a precise and timely overview of your contact information so that you can serve your prospective customers more efficiently and increase customer satisfaction.
Dynamics 365 Customer Insights companies can bring together their customer data from all sources to gain a truly 360-degree view of their customers, unlocking insights that power personalized, authentic engagement at every touchpoint.
Managing Contacts
Employees in your company regularly meet prospective business relations that may develop into formal relationships. All such external contacts and their detailed information should be recorded in the system so that communication is more successful and so they can easily be converted to formal customer, vendor, or bank relationships.
Managing Segments
You create segments to select a group of contacts according to specific criteria. For example, a segment could be the industry that the contacts belong to or your business relationship with the contacts. You can create a segment to select the contacts you want to target with a campaign. You can create segments to select a group of contacts, for example, if you want to create an interaction involving several contacts, such as direct mail.
Managing Interactions
In Business Central, interactions are all types of communications between your company and your contacts. For example, communications can be email, letter, telephone, meetings, and so on. You can record all the interactions that you have with your contacts in order to keep track of the sales and marketing efforts you have directed at your contacts and to improve your future business interactions with them.
Business Central includes a standard configuration of most financial processes, but you can change the configuration to suit your business. The default configuration includes a chart of accounts and standard posting groups that make the process of assigning default general ledger posting accounts to customers, vendors, and items more efficient.
Financial reporting in Business Central allows financial and business professionals to create, maintain, deploy, and view financial statements. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Business Central includes several reports, tracing functions, and tools that help auditors or controllers who are responsible for reporting to the finance department.
As your business grows, you take on responsibilities and expectations that your previous operations simply weren’t designed to handle. At some point, the patterns and resources you’ve always relied on just don’t quite work like they used to. Work wherever your business takes you, with full capabilities on desktop, tablet, mobile, or in the cloud.
Better manage your cash flow, bank reconciliations, fixed assets, budgeting, and project costing while shortening cycle times with late payment-prediction extention. Connect reports, charts, and Power BI data from across accounting, sales, purchasing, and inventory teams to get accurate insights and make financial decisions with confidence.
Prioritize leads based on revenue potential. Keep track of customer interactions and get guidance on the best upsell, cross-sell, and renewal opportunities throughout your sales cycle.Track customer agreements to quickly access details about prices, discounts, delievry dates, product availability and fullfillment status, right inside Microsoft Outlook.
A regular step in any financial rhythm is to reconcile bank accounts, which requires that you apply incoming payments to customer or vendor ledger entries to close sales invoices and purchase credit memos as paid.
To help you manage your accounts receivable in Business Central, standard reports and analytics are built in. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Streamline accounting workflows Effectively manage accounting tasks and eliminate manual processes, freeing up time to take on new clients and better serve existing ones.
Better manage your cash flow, bank reconciliations, fixed assets, budgeting, and project costing while shortening cycle times with the late payment–prediction extension.
Use built-in reports, Excel, or Microsoft Power BI and unlimited data dimensions to get real-time cash flow, identify financial patterns, analyze trends, and improve business planning.
Connect reports, charts, and Power BI data from across accounting, sales, purchasing, and inventory teams to get accurate insights and make financial decisions with confidence.
A big part of managing accounts payable is paying your vendors, or reimbursing your employees for expenses. To help you manage your accounts payable in Business Central, standard reports and analytics are built in. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Another typical task is to apply outgoing payments to their related vendor or employee ledger entries in order to close purchase invoices, purchase credit memos, or employee accounts as paid. To help you manage your accounts payable in Business Central, standard reports and analytics are built in. It moves beyond traditional reporting constraints to help you efficiently design various types of reports.
Accelerate financial closing and reporting: Reduce month- and year-end closing times with connected general ledger, accounts receivable, payables, and fixed assets data. Streamline approval workflows using Power Automate.
Businesses capture a tremendous amount of data through daily activity. This data, which reflects such things as the organization's sales figures, purchases, operational expenses, employee salaries, and budgets, can become valuable information, or business intelligence, for decision makers. Business Central contains a number of features that help you gather, analyze, and share your company data.
Financial reporting in Business Central allows financial and business professionals to create, maintain, deploy, and view financial statements. It moves beyond traditional reporting constraints to help you efficiently design various types of reports. Business Central includes several reports, tracing functions, and tools that help auditors or controllers who are responsible for reporting to the finance department.
In financial analysis, a dimension is data that you can add to an entry as a kind of marker. This data is used to group entries with similar characteristics, such as customers, regions, products, and salesperson, and easily retrieve these groups for analysis. Dimensions can be used on entries in journals, documents, and budgets. The term dimension describes how analysis occurs.
In Business Central, you can perform common project management tasks, such as configuring a job and scheduling a resource, as well as providing the information needed to manage budgets and monitor progress. You can track employee hours on the project by using time sheets.
Project reporting in Business Central allows project and business professionals to get insights and statistics about current and past project activities.
Job Analysis - analyzes your job by using settings that you specify. For example, you can create a report that shows you the budgeted prices, usage prices, and billable prices, and then compares the three sets of prices.
You can use time sheets in Business Central to track absence, and to track time and resources that are spent on a project. With time management, you can identify issues early, and avoid delays or cost overruns. With time sheets, a resource can easily report time usage for an individual or a machine, and a manager can easily review the usage and its allocation.
You can set up a budget for each job. The budget is used to plan the resources that you allocate to a job. The budget can be either general with few entries or it can contain more entries that are divided into activity levels. You can then compare the budgeted amounts with the actual usage as recorded in the job journal.
With the work in process (WIP) feature you can estimate the financial value of ongoing jobs in the general ledger.As a job progresses, materials and resources are consumed and expenses incurred that must be posted to the job. In many cases, you might post expenses for a job before invoicing. But if only expenses have been posted, your financial statement is inaccurate.
The relationship management features of Business Central help you manage and support your sales efforts. With these features, you have access to complete and accurate information so you can focus your interactions on preferred customer/contact segments.
Good sales and marketing practices are all about how to make the best decisions at the right time. Business Central provides a precise and timely overview of your contact information so that you can serve your prospective customers more efficiently and increase customer satisfaction.
Dynamics 365 Customer Insights companies can bring together their customer data from all sources to gain a truly 360-degree view of their customers, unlocking insights that power personalized, authentic engagement at every touchpoint.
Employees in your company regularly meet prospective business relations that may develop into formal relationships. All such external contacts and their detailed information should be recorded in the system so that communication is more successful and so they can easily be converted to formal customer, vendor, or bank relationships.
You create segments to select a group of contacts according to specific criteria. For example, a segment could be the industry that the contacts belong to or your business relationship with the contacts. You can create a segment to select the contacts you want to target with a campaign. You can create segments to select a group of contacts, for example, if you want to create an interaction involving several contacts, such as direct mail.
In Business Central, interactions are all types of communications between your company and your contacts. For example, communications can be email, letter, telephone, meetings, and so on. You can record all the interactions that you have with your contacts in order to keep track of the sales and marketing efforts you have directed at your contacts and to improve your future business interactions with them.
Overview
Consumers are asking for greater personalization and added conveniences like picking up online purchases in stores.
Retailers need to keep up with buying trends in order to target and attract new customers and keep existing customer base happy. Customers have many options for getting what they want, at the price and time they want it. You want them to continue to buy from you.
Win new customers and build loyalty with existing ones. Engage with buyers at the right time, in the right place, with the right offers. Gathering data from various points of customer contact enables you to get real time insights about the customer, and make more relevant, timely, personalized and contextual offers. (Power BI, CRMOL, O365)
Digital transformation represents the opportunity for businesses to think and operate like digital companies-- in the ways they engage their customers, empower their employees, optimize their operations and transform their products.
LOOK Innovative Agency and Microsoft are uniquely positioned to help businesses tackle these challenges by meeting customers where they are today with agile technology platforms and services that accelerate their digital transformation and business success.
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