MS Dynamics 365 for Finance: Benefits and Sectors Overview
Microsoft Dynamics 365 financials module is one of the most demanded platforms in the financial sector like banking, insurance, and capital markets. Due to the increased traction of MS Dynamics services, the demand for an MS Dynamics contractor has also increased significantly in the marketplace. The number of enterprises that use MS Dynamics 365 for finance and operations has already crossed the 100,000 mark and it is counting worldwide.
Microsoft Dynamics 365 for Financials Benefits
Microsoft Dynamics 365 platform offers a set of professional tools like Microsoft Dynamics GP financials, Dynamics AX financials, Dynamics NAV financial management, and others to implement a comprehensive solution that all sectors of the financial industry need. The major benefits are listed below:
How to Implement Dynamics 365 Financials in Various Financial Sectors?
Dynamics 365 Financials is an integrated solution with numerous features and capabilities that fulfill all needs of different domains in the financial sectors like banking, insurance, capital markets, and others. Let’s explore them individually.
The banking sector is a fully customer-oriented kind of business; so, maintaining a high level of customer experience is one of the most fundamental objectives of the banking sector, which can be achieved through better implementation of Dynamics 365 financial by taking the following steps:
- As a prerequisite for a business to implement MS Dynamics 365 financials in the banking sector, you should have a developer with strong knowledge of accounting, finance, and general ledger and related processes.
- First of all, create banks with desired configuration
- Configuration of bank layouts is the second important step
- Create and configure vendors
- Configure customer banks
- Configure cash flow and its forecast
- Create report parameters
- Configure bank management parameters
- Configure cash parameters
The insurance business is a comparatively high-risk business if the proper operations based on the deeper knowledge of people, assets, and situations are not implemented. Microsoft Dynamics insurance module implemented effectively, as mentioned below, will increase transparency.
- Insurance companies looking for deploying Dynamics 365 financials should hire an experienced Dynamics developer and a business consultant for planning and implementation of Dynamics finance module for insurance
- Configure the categories of insurance
- Configure receivable and payable accounts
- Configure eligibility rules
- Configure options of insurance plans
- Create insurance policy types
- Create claim criteria and other conditions
The capital market is fully driven by investment partners, entrepreneurs, bonds, shares, and other similar kinds of services. You need a better policy, procedure, and credibility in the market through better implementation of process automation as mentioned below.
- Configure customers and investment plans
- Configure bonds and shares
- Devise, create and deploy different investment plans
- Add mutual funds and other investment options
- Configure terms and conditions and criteria of investments
Where to Find the Best Microsoft Dynamics Financial Services?
The effective implementation of Microsoft Dynamics CRM for banking, insurance, and capital markets as well as the integration of Dynamics 365 manufacturing requires a dedicated and professional team of developers, project managers, consultants, and engineers. If you are looking for skilled and qualified tech-talent to improve your business with the power of Dynamics CRM applicability in financial services, Mobilunity is a reliable company to seek help from. Mobilunity provides you the proficient and dedicated tech-talent to implement the MS Dynamics financial services at a cost-effective MS Dynamics programmer cost and improve productivity and efficiency so that your business stands out from the other competitors. If your business is looking for PayPal developers or CTO hire solutions that include most of the steps mentioned above, an outsourcing vendor such as Mobilunity is the right option.
If you are looking for reliable services for Microsoft Dynamics 365 financials implementation, you are welcome to contact Mobilunity to get dedicated developers right now!
Disclaimer: “Dynamics 365” and “Microsoft Dynamics” are trademarks of Microsoft Corporation. Mobilunity is not related to, affiliated with, sponsored or endorsed by Microsoft Corporation.