From managing invoicing to sustaining regulatory compliance, finance is commonly full of expensive, time consuming, and error-prone guide processes. These challenges are exacerbated in occasions of uncertainty and proceed to influence organizations globally.

The 2020 launch wave 2 updates for Microsoft Dynamics 365 Finance deliver further core functional capabilities, opportunities to automate common processes, and improved global support. Collectively, these enhancements will assist finance organizations prioritize impactful work, construct effectivity and agility into their monetary processes, and help world progress—all whereas staying compliant with altering accounting rules.

Beneath are the important thing focus areas for the 2020 launch wave 2 together with, notable partnerships and functionality updates.

Optimize monetary operations

Simplifying and automating compliance with asset leasing

At this time most organizations are experiencing challenges and planning that they didn’t anticipate. In occasions like these, organizations would not have time to fret about reacting to modifications in accounting rules, but they can’t danger leaving them unaddressed.

A core tenant of Dynamics 365 Finance is to allow you to scale back danger, and to automate and modernize your world monetary operations. That can assist you obtain this, we’re introducing asset leasing in November 2020. Asset leasing helps you adapt and be compliant to the FASB and IFRS 16 accounting rules, associated to lease administration and its monetary influence. Asset leasing will scale back guide errors and save your customers time by way of automated lease standing updates, proper of use belongings, holistic monitoring and analytics, and calculations of internet current worth, lease curiosity, and future money funds.

Screenshot of Finance and Operations collections process automations

Bringing world class, enterprise treasury administration to Dynamics 365 Finance

Treasury administration is essential for patrons to plan, manage, and management money and liquidity throughout the group. This entails managing a number of financial institution accounts, liquidity, borrowings, and common financial institution interactions utilizing non-integrated techniques. Combining these views right into a centralized view mitigates danger by offering a single supply to handle monetary issues and work together with financial institution techniques.

To deal with this essential want, Dynamics 365 Finance and Kyriba, the worldwide chief in cloud treasury options, have entered a strategic partnership to offer Microsoft Dynamics 365 clients higher visibility into their money, foreign money hedging, fraud discount, and fee options.

  • The treasury administration answer gives visibility and reporting wanted to optimize money and liquidity, management financial institution accounts, ship compliance, and handle in-house banking.
  • Streamline world banking connectivity and format transformation and allow real-time fraud detection with the funds answer.
  • The danger administration answer makes use of intensive enterprise intelligence capabilities to establish, analyze, and mitigate overseas alternate dangers.
  • The working capital answer focuses on enhancing free money circulate and enhancing EBITDA working capital. This evaluation aids in extending fee phrases and allows higher working capital administration.

Working collectively, Kyriba and Dynamics 365 Finance have recognized out of the field integration capabilities to shortly permit clients to reap the benefits of the wealthy capabilities of Kyriba, whereas having Dynamics 365 Finance as their clever, automated system of file for core finance.

Start utilizing Kyriba’s fee answer built-in with Dynamics 365 Finance immediately with pre-built startup eventualities based mostly on native fee processing performance together with:

  • Vendor funds and third-party transfers to circulate by way of Kyriba Funds Community.
  • Pre-built financial institution connectivity—greater than 45,000 financial institution fee eventualities for greater than 1,000 banks.
  • Standardize digital fee transformation to reinforce visibility and straight by way of fee processing.
  • Cost standing updates returned from the financial institution instantly into Dynamics 365. Standing’ embody:
    • Preliminary retrieval of fee transactions by Kyriba.
    • Replace of ultimate financial institution transaction standing to fee journals.
    • Monitoring particulars required to hyperlink and monitor course of standing in Kyriba.
  • Visibility of Kyriba processed fee transactions from screens exhibiting details about in-process and closing standing particulars.

Study extra about Kyriba Payments Network for Dynamics 365.

Defending your income

Capturing income and avoiding missed or late buyer funds is crucial within the present market surroundings. The next capabilities are centered on expediting processes and specializing in outcomes associated to credit score and collections.

  • Automated assortment job creation: Create a rule-based assortment technique utilizing bill attributes akin to fee predictions, due dates, and quantities to routinely create duties and electronic mail reminders. This will increase the probability of on-time funds, improves incoming money circulate, and saves collections brokers’ time—enabling them to concentrate on excessive worth actions.
  • Contact-less electronic mail reminders: With the intention to reduce late and missed funds, when enabled, electronic mail reminders can be despatched routinely to clients with a listing containing overdue bill data.

Screenshot of Finance and Operations collections process automations

Adapt shortly and scale back prices

Operational complexity and danger proceed to accentuate as organizations develop globally and develop their footprints throughout areas. Sustaining compliance and adapting to steadily altering rules is a rising problem. The next updates are meant to alleviate challenges associated to a number of the most guide, time-consuming, and error-prone processes in finance.

  • Vendor bill automation: Save time and scale back labor prices by enabling straight-through, touchless bill processing. Leverage metrics and analytics on outcomes which offer visibility into the bill processes’ standing, spotlight errors, and permit accounts payable clerks to search out and deal with points shortly.

Screenshot of vendor invoice entry analytics

  • Expanded localizations: Out-of-the-box, country- or region-specific performance has been expanded to 42 nations and areas to incorporate Bahrain, Hong Kong SAR, Kuwait, Oman, and Qatar. We even have greater than 40 ISV localization options at AppSource.
  • Digital Invoicing add-on for Dynamics 365: Organizations have begun to maneuver away from paper invoices to scale back prices and velocity up the end-to-end course of. Furthermore, governments are more and more turning to digital invoicing as a key part of tax digitalization. By requiring organizations to digitally submit real-time tax data to tax authorities, governments can decrease tax evasion and manipulation, and scale back fraud. The world is shifting to paperless doc processing and, with out implementing digital invoicing, clients’ danger compliance points, pointless prices, and lagging behind opponents.

The Digital Invoicing add-on extends the digital invoicing capabilities in Dynamics 365 Finance, Microsoft Dynamics 365 Provide Chain Administration, and Microsoft Dynamics 365 Undertaking Operations simplifies adherence to the most recent digital invoicing requirements and gives coherent experiences for various geographies in digital bill processing and alternate.

Discover the entire launch wave 2 updates for Dynamics 365 Finance

With the brand new capabilities provided within the 2020 launch wave 2, we proceed to allow clients to optimize monetary operations, shield their income, adapt shortly, and scale back prices. Should you’re desirous about studying extra, check out the total rundown of updates for Dynamics 365 Finance.

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