November 8, 2022 | By admin

Microsoft has announced its 2022 release wave 2 updates and we will be seeing some key changes rolled out to Dynamics 365 Finance.

This release for Dynamics 365 Finance is focused on bringing additional enhancements to core financial capabilities, financial automation and reporting.

So, what are some of the Dynamics 365 Finance wave highlights?

Well, Microsoft recognises that product-centric, service-centric and diversified organisations are moving users to value-added activities versus repetitive, manual tasks. Connecting data across systems, having an application that supports changing business models, and rapid adoption of economic changes are key to making effective decisions to drive this transformation.

To continue the success and growth of Dynamics 365 Finance customers, Microsoft is focusing on delivering key enhancements that reflect the needs of its users.

Updates include:

  • Enhancing the subscription billing solution with quotes, split billing and project accounting integration.
  • General availability of vendor invoice OCR (optical character recognition). This will automate the reading and recognition of vendor invoices by providing OCR capabilities to complete the full end-to-end automation of accounts payable.

Continuous enhancements

In this release wave, Microsoft has also demonstrated its commitment to enhancing Globalization Studio, providing more globalization breadth, depth and scalability out of the box.

Microsoft customers run its solution in more than 180 countries and regions and are required to meet multiple tax compliance and local business practice requirements (localisation). Microsoft provide out-of-the-box localisation and continuous regulatory compliance for 44 countries and regions, and translations for 52 languages, extended by partners. Its new no-code/low-code Globalization Studio makes localisation easy for Microsoft, as well as its partners and customers, to create, extend, automate and maintain.

Tax Calculation service: Eliminates the need for costly customisations for many complex tax scenarios. Microsoft continue extending the scope of Tax Calculation service by providing several enhancements in the service.

Electronic Invoicing service: To fight tax evasion, more countries are introducing mandatory business-to-business electronic invoicing with e-invoice clearance at tax authority agencies. To support the new upcoming e-invoice legislations, new e-invoicing capabilities are available that are legally required in France, Poland, and Saudi Arabia.

Electronic reporting: Enhancements to Electronic reporting that enable switching a base data model and improve import experience by automatically uploading parent configurations.

 

Alternatively, get in touch and we will be glad to help your organisation transition through and harness the power of these changes.