FORBES EVALUATES D365 BC AS LEADING CLOUD ERP FOR SMB
Forbes Advisor recently named its top ERPs of 2024 and recognized Dynamics 365 Business Central as the overall premier cloud ERP solution for small and medium-sized businesses against its competitors.
The analysis considered several indicators, namely:
- Cloud-Based Deployment;
- Financial Management and Accounting;
- Reporting and Analytics;
- Advanced AI and Data Analytics Integration;
- Third-Party Integrations;
- Warehouse and Supply Chain Management;
- Human Resources Management tools;
- Security and Usability.
Microsoft Dynamics 365 Business Central is a platform with cutting-edge technology at its center to meet companies demands. It offers a range of applications/business apps to help automate management processes and make the most of resources. Dynamics 365 BC offers solutions for finance, sales and marketing, customer service, logistics and human resources, guaranteeing the complete management chain.
Microsoft’s ERP has a diverse range of applications, is accessible and scalable, guarantees a technological innovation pipeline and total security for Cloud transition, facilitating digital transformation of companies that want to scale their growth.
In addition to Forbes pros, it is worth mentioning that Microsoft’s AI, Copilot within the entire Dynamics 365 suite including Business Central has helped users save significant time on repetitive tasks and streamlines workflows across various applications, leading to demonstrably higher productivity (e.g., studies show users complete tasks 27% faster).
Why Business Central is Forbes Advisor’s OVERALL Top Choice?
“Microsoft Dynamics 365 [BC] ranks as one of the best ERP systems because it is a comprehensive platform that meets all the requirements for business management. It boasts a range of applications to help manage essential operations, including sales, marketing, customer service, finance, supply chain and human resources.
While Microsoft’s ERP has a diverse range of applications, Microsoft Dynamics 365 Business Central was specifically designed to meet the unique needs of small and medium-sized businesses. Not surprisingly, it is both affordable and scalable, so it can support growing businesses that scale rapidly.” Forbes Advisor
Dynamics 365 BC Core Features
Cloud-Based Deployment: As a cloud-based solution, D365 BC can consolidate all data and support business growth without large investments on IT infrastructure. Business Central users don’t have to be concerned about its data synchronization because Microsoft has it covered, which saves them time and money.
Financial Management and Accounting: Exceptional ability of D365 BC to handle financial operations as a key business feature. This includes managing accounts payable and receivable, performing bank reconciliation, maintaining general ledger, managing fixed assets, and overseeing cash flow. By harnessing BC’s capacity to gather product reviews, you’re not just fostering engagement with your customers but also gaining crucial insight into their preferences.
Reporting and Analytics: D365 BC empowers executives and managers with its data-driven insights for conscious decision-making. It features built-in dashboards and KPIs updated in real-time to aid in budgeting, forecasting, and resource allocation. To distribute this important data, Business Central connects with Power BI, enabling you to generate and share data visualizations with your team.
Streamlined Human Resources: Thanks to D365 BC’s tools for payroll, employee management, benefits administration, and performance evaluation, businesses can effectively manage human resources by automating workflows, audit trails, and compliance checks for streamlined operations.
Advanced AI and Data Analytics Integration: With Microsoft’s substantial investment in AI, including Copilot in their Dynamics 365 suite solutions, you can leverage its updated AI features and data analytics seamlessly integrated with Power BI and Power Platform.
Third-Party Integrations: Leveraging integrations within the Microsoft ecosystem is extremely powerful. For instance, if you’re already using Microsoft 365 for your business, integrating it with D365 BC will centralize your customer data, emails, and documents within a unified ecosystem. This not only improves collaboration among teams but also ensures data consistency and accuracy across different departments.
“With Microsoft Dynamics 365 BC, you can access AppSource to find potential integrations from Microsoft and select partners. For one, it is equipped with pre-built Microsoft applications such as Microsoft 365, Power BI and Power Platform. This means Microsoft users can integrate the solution into their current workflow and take advantage of other Microsoft tools.” – Forbes Advisor
Security: In comparison to its competitors, Forbes praises the Dynamics 365 suite (including Business Central) for being equipped with industry-standard encryption and multifactor authentication. With certifications such as SOC 1, SOC 2, and ISO 27001 attesting to its robust security and privacy measures. If there is a data loss, rest assured, Dynamics 365 has the capability to automatically backup and recovery data.
Warehouse and Supply Chain Management: In our global business environment, it’s essential to have real-time insights into inventory and production schedules across multiple regions and time zones to maintain operational efficiency and satisfy customer needs. Dynamics 365 BC offers robust supply chain management features, enabling users to actively monitor goods movement, identify potential bottlenecks and delays, and make informed decisions to streamline their processes.
Ease of Use: Business Central has a familiar Microsoft interface, which makes it easy to learn for Microsoft users. “Additionally, the system is highly customizable, so businesses can customize it to meet their specific needs and workflows.” Forbes Adviser
How does Dynamics 365 Business Central Compare to Other ERP Systems?
Forbes Advisor compares Dynamics 365 Business Central to three other ERP systems: Oracle NetSuite OneWorld, SAP Business One Professional and Acumatica. Here’s a summary of how they stack up:
Oracle NetSuite OneWorld: Is a cloud-based ERP system that has a diverse range of features for accounting, warehouse management, supply chain management and reporting. When compared to BC’s cost, functionality, integration, interface, and support NetSuite falls short.
“Similar to Microsoft Dynamics 365 BC, its popularity is thanks to its suite of tools for accounting, warehouse management, supply chain management and reporting…However Dynamics 365 BC is known for its strong integration with other Microsoft products and familiar interface.” – Forbes Advisor
SAP Business One Professional: Is a cloud-based and on-premises ERP system that has a broad range of features for financial management, supply chain management and HR functionalities. However, Forbes Advisor indicated that, “Dynamics 365 BC is equipped with a modern and intuitive user interface that is consistent with the look and feel of most Microsoft products. However, SAP Business One Professional has a slightly more traditional and complex user interface.”
Acumatica: Is also a cloud-based ERP system that has customizable workflows, automation, and flexibility. However, ex-Acumatica users have complained about its inventory management capabilities and support.
Full article available here (Why Forbes Advisor Recommends D365 Business Central for SMBs (We Knew This Was Coming) (abouttmc.com)
