With an increased focus on migrating to the cloud, many existing Dynamics AX, GP and NAV users are currently exploring the next step in their ERP upgrade journey.
For many SMEs, the obvious path on their ERP upgrade journey is Dynamics 365 Business Central, however, if your organisation has become more complex since your original ERP implementation, then Dynamics 365 Finance & Supply Chain Management may well be a better fit.
Carefully assessing all options and reviewing how you currently use your existing ERP solution and areas of improvement are critical to meeting your organisational goals and objectives. With its next generation of ERP solutions, Microsoft has a range of offerings available enabling you to select the right fit for your organisation. But how do you decide?
We recently looked at three key factors (complexity, scale and location) every organisation should consider when choosing between Dynamics 365 Business Central and Dynamics 365 Finance & Supply Chain Management in Business Central or Finance and Supply Chain Management – what is right for you?.
This article dives a little deeper into some other key factors worth considering when looking to understand which Dynamics solution would best fit your organisational needs now and in the future.
What are some of these questions? Well, they typically fall into one of two categories – firstly, location and currency considerations and secondly, reporting and MI functionality.
Location and currency considerations
Am I able to report in different currencies?
Yes, both Business Central and Finance & Supply Chain Management support foreign currency transactions and offer additional reporting currency. Dynamics 365 Business Central is however limited to one additional currency, therefore, if two or more additional currencies are needed Dynamics 365 Finance & Supply Management is the solution for your organisation.
Is there a limit to the number of legal entities that I can have?
Both solutions support infinite entities however Dynamics 365 Business Central is limited to one geographical region, therefore if you operate in more than one country then Dynamics 365 Finance & Supply Management would be better suited.
Reporting and MI functionality
Is there an integrated financial reporting tool?
Dynamics 365 Finance & Supply Management fully supports the creation, generation and distribution of reports through the integrated financial reporter tool. Dynamics 365 Business Central has basic reporting functionality however there are third party options available for additional reporting capabilities if needed in the future.
Are analysis codes available to support reporting department or costs centre level?
Both solutions include the financial dimensions that can be used to support better analysis and reporting of financial postings. Dynamics 365 Business Central offers a maximum of eight dimensions, however, D365 Finance and Supply Chain Management supports businesses in creating an unlimited list of dimensions with up to ten of these being recorded against a posted transaction.