Dynamics 365 BC is Better than QuickBooks for Inventory Optimization

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Distributors wanting to enhance their inventory operations through digital transformation face many challenges. Thankfully, Microsoft Dynamics 365 Business Central (BC) tools can help you meet those challenges and move confidently toward your goals.

Many organizations are increasing their virtual presence through digital marketplaces or are exploring cloud-based solutions to connect multiple warehouse locations. As your business grows, the functionality of QuickBooks that has served you so far may not be enough.

That's why many distributors are moving to Microsoft Dynamics 365 Business Central – specifically to solve their inventory management challenges.

Migrating from QuickBooks to Business Central will help you optimize your inventory processes, eliminate data silos, and more efficiently track inventory across all your locations—in real time.

The Challenges: 

Challenge #1 -Ensuring accurate, real-time inventory data 

Distributors depend on vast amounts of inventory data. For stock on hand, available stock, sales demand, anticipated receipts, vendor information, customer information, and operating expenses, accurate real-time data is crucial. QuickBooks may have handled your inventory management when you started. But it will fall short and fail to scale with your growing business, as will Excel spreadsheets.

Two reasons QuickBooks inventory management won't continue working for most distributors:

  • QuickBooks and Excel do not integrate with other systems your teams use daily. Transferring data manually between systems is an invitation for inaccuracy and extra work. The lack of integration will cause delays, interrupt data flow, and prevent accurate real-time analysis.
  • QuickBooks and Excel offer little-to-no automation. Your team must rely on manual input for the piles of data and its management. Relying on humans to enter and manage all your necessary and critical data often results in duplication, error, and potential compliance risks. And it takes a lot of time that could be spent more productively.

With Dynamics 365 Business Central, all your data will be in one place and available for easy, automatic sharing across departments and locations. You can consolidate all your data in a single solution and eliminate manual imports and exports while ensuring data accuracy and integrity.

More accurate data will lead to more precise analytics to give you a clearer view of your inventory and costs.

Challenge #2 - Tracking Inventory across multiple warehouses  

When distribution companies grow and expand into digital markets or add new warehouse locations, there is the danger of losing track of products. That will result in lost sales, overstocks, backorders, and decreased profits. You need to be able to manage inventory in real time in one or multiple locations.

QuickBooks can't keep track of serialized or lot-controlled inventory, nor can it communicate among your different warehouses or entities.

Dynamics 365 Business Central comes with robust inventory management tools. Business Central has a built-in warehouse management system (WMS) with advanced communication, integration, and automation. Real-time inventory tracking and management across locations is easy and automatic. With data seamlessly flowing through the system, inventory records automatically increase and decrease. Easily track inventory transfers among warehouses, see all orders at a glance, route orders to the correct facilities, and monitor inventory counts at every location. If you import/export goods internationally, 365ContainerImport is an integrated tool that enables you to track, manage, and allocate inventory within Business Central.

Challenge #3. Confidently making more intelligent business decisions 

Moving from QuickBooks to a fully-integrated Dynamics 365 Business Central ERP solution will do more than improve your inventory management and accounting processes. Connecting and streamlining how your business systems function will allow you better visibility into your entire operation. Visibility will ultimately enable your team to make smarter business decisions.

Disparate systems and data silos inherent in QuickBooks won't support the kind of business intelligence necessary for strategic insights. Dynamics 365 BC addresses this problem with native integration with Power BI – a powerful business analytics and data visualization solution that bridges the gap between statistics and decision-making.

Perhaps you need to see sales data compared to operational data. Or maybe you need to track project costs based on resources. There is no easy way to do that in QuickBooks. Power BI enters into the Dynamics 365 BC overall solution giving you visibility throughout your business. Connect any data source, including financial, inventory, sales and marketing, as well as Microsoft Office applications such as Outlook and Excel.

When you have that kind of visibility into your supply and across your whole business, you can make real-time purchasing decisions that optimize your inventory and control your costs.

Learn more about Dynamics 365 BC for distribution 

Inventory optimization is a crucial component of your distribution business. It's worth investing in a solution that doesn't limit you the way QuickBooks does. Our experts at Western Computer have years of experience helping distributors move up to Dynamics 365 Business Central to improve inventory management, warehousing, visibility, and efficiency. Download our interactive self-evaluation checklist to determine if you are ready to transition from QuickBooks, or contact us to speak with an expert.

By Western Computer, www.westerncomputer.com

 

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