Advanced Budgeting, Reporting and Consolidations for Dynamics 365 Business Central

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The world’s most popular tool in finance remains to be Microsoft Excel. There is a good reason for enterprise resource planning (ERP) software failing in this realm with their native functionality, and that is that the demands for advanced calculations and formatting, currency conversion, consolidations, budget workflow, custom budget input forms, and charts simply are too much for the controlled and accounting-focused ERP applications. This is why there is a growing corporate performance management (CPM) and BI industry that plugs these and other planning and decision-making related holes in ERP systems. It has become a symbiotic relationship in many ways, especially when there are solid integrations that exist between ERPs, CPM solutions, and BI tools.

Where does Dynamics 365 Business Central (D365 BC) fit in terms of advanced reporting and budgeting?  D365 BC has a native reporting and budgeting at the typical level where most modern enterprise resource planning (ERP) software have it. Based on ERP history,  90-95% of all D365 BC customers will at least partially be using Excel spreadsheets for reporting and a lot of their budgeting and forecasting. That is, unless they are ready to step up the CPM game and look at CPM tools like Solver for full blown cloud budgeting, reporting and consolidations that are pre-integrated and also running on Microsoft Azure as a multi-tenant solution.

We just covered CPM, but let’s talk about BI. Microsoft has hit a home-run with Power BI. Not only did Power BI recently become the leader in the Gartner BI Quadrant, but Microsoft has also done an excellent job integrating it to D365 BC and many other transaction systems.

If you work for an organization that plans to evaluate D365 BC between Power BI and CPM solutions like Solver, you should be in good shape in making better and faster business decisions in the years ahead.

If you would like to read the full article on advanced budgeting, reporting and consolidations for Microsoft Dynamics 365 Business Central, click here.

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