Microsoft Dynamics 365 has Accelerated the Cloud ERP Revolution, but What About Your Reporting and Budgeting Needs?

This article discusses next steps to take for your reporting and budgeting needs regarding Dynamics 365.

Image taken from Shutterstock.

Image taken from Shutterstock.

Microsoft unveiled their cloud-based enterprise resource planning (ERP) system, Dynamics 365, just a little over a month ago. As a potential business intelligence (BI) customer, you’re probably curious about your reporting and budgeting processes in the context of moving towards a cloud-based ERP system. As you know, a new United States president was elected on November 8th, and as always with a new president, people are curious or worried how things will work out. If you are one of the approximately 85% of the world still using an on-premise ERP system, this same analogy can be applied to those who are planning to go onto a cloud ERP. This article focuses on the next steps to take for your reporting and budgeting in regards to Microsoft’s Dynamics 365 unveiling.

Microsoft Dynamics, a line of ERPs and customer relationship management (CRM) systems, is a power player in the business applications world so, as you can imagine, once Microsoft released Dynamics 365, people also knew that things in the BI realm were going to change with no hesitation. There has been a lot of confusion around Dynamics 365, especially due to the changing naming conventions of this system and to make things clear, Solver CEO Nils Rasmussen explains that “Dynamics 365 is really two ERP systems. One is the lower end version of Dynamics 365, based on the NAV product in its structure. The higher end version of Dynamics 365 is based on Dynamics AX and is for the higher end of the market.” Both systems are architected for and deployed in the Microsoft Azure cloud, and it’s all hosted and managed by Microsoft. If you want to learn more, you can read about Microsoft Dynamics 365 and what it all means.

If you are planning to implement or are already using Dynamics 365, NetSuite, Acumatica, or Intacct, you might find yourself shopping for a new budgeting and reporting tool to also benefit from a modern Corporate Performance Management (CPM) solution. You have several options: For instance, your company can rely on the native budgeting features and reporting options that comes natively embedded in the ERP system, but in most cases this means that you will end up exporting data to Excel to design your favorite budget model or to professionally format financial reports. Another option is that to implement a modern web-based CPM solution that integrates well to your cloud-based ERP system. The last option gets to the point: go out and shop for a new tool!

The cloud ERP market is skyrocketing. What are you going to do with your reporting and budgeting? One tip I would like to share is to make sure your budgeting and reporting tool is flexible, accessible, and is offering a cloud solution or at the minimum a web-based interface. With a cloud solution, there is no need to install or maintain upgrades. There are various reporting solutions with features and functionalities that are flexible and accessible. For example, some modern solutions offer Excel add-ins, as well as a web portal that is filled with reports and dashboards that are relevant to the user, so that the user can rapidly get to subscribed reports, commentary, discussions, and groups. A modern web-based CPM portal usually offers an intuitive, collaborative technology that also has workflow, alerts and commentary users can also execute reports on-demand, explain variances, and they can also share  specific reports with their team members. These modern functionalities are collaborative, increase transparency, and most importantly, they are user-friendly.

As reporting and budgeting solutions continue to get smarter, a number of modern, cloud-based solutions are starting to appear in the BI marketplace and many will offer easy-to-use, pre-built integrations to ERP systems like Microsoft Dynamics 365. As you research and look into more CPM tools, you will notice that some of them are on-premises, some of them are cloud-based, and others are hybrid tools. Top-notch CPM tools that are cloud or web-based platforms such as Adaptive Insights, Anaplan, Host Analytics and BI360 are great options. If you are skeptical about moving everything to the cloud, continue to choose to keep certain business applications on-premises if you’d like, but also plan for the future. You can also learn more on the pros and cons of cloud and on-premises options in the Business Intelligence: Cloud-based, One-premises, or Both? article. Studies do show that cloud helps solve problems such as lowering costs, increasing productivity, gaining flexibility, and all while providing the right information to the appropriate people at the most opportune time, so they can make wise decisions for their organization.

The BI realm for Microsoft customers is about to change as Dynamics 365 has been released and vendors are encouraged to integrate their CPM offerings. As you know, the cloud is constantly changing, and as it evolves, cloud reporting and budgeting solutions continue to get smarter as well. If your current software is limiting your organization from making smart business choices, that is all the reason to invest in a new reporting and budgeting solution. Modern BI solutions are providing business end users choices so they have access to specific data they need when they need it without having to wait for your assistance, but I still suggest you maintain a good relationship with your information technology team as they are the “technology geniuses” of the company and will help make sure that your different systems can talk to each other to maximize productivity and data quality.

Solver enables world-class decisions with BI360, a leading web-based CPM suite made up of budgeting, reporting, dashboards, and data warehousing, delivered through a web portal. Solver is reinventing CPM with its next generation solution. BI360 empowers business users with modern features including innovative use of Excel in the model design process. If you’re interested in learning more, our team is excited to hear about your organizational needs and goals.

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