Does a small/medium-size business (SMB) need an enterprise software application, and will the cost outweigh the benefit? Let’s first define enterprise software. Typically referred to as Enterprise Resource Planning, or ERP, enterprise software is an application that helps manage core business processes. An ERP application integrates areas such as planning, purchasing, inventory, sales, marketing and most importantly, finance. A single application that handles all these core business processes sounds expensive. In most cases, it is; not to mention the additional cost of having a team of consultants to help you set it up. While this can all be very expensive, the benefits of having a single source of information to help manage your business can be significant.
Now back to the original questions of an SMB needing an enterprise application and the cost-benefit analysis. In many cases, the answer would be no, due to the cost outweighing the benefits. Recently, however, Microsoft made the decision to enter this market with a scalable business enterprise solution that can be priced competitively for small- and mid-sized businesses.
Microsoft Dynamics 365 for Financials is an application built based on the Microsoft Dynamics NAV platform, which is appropriate for medium sized enterprise companies. Starting with its proven, most popular ERP product, Microsoft took Dynamics NAV, made it web-based only, removed some of the complexities of an enterprise application and increased the integration with productivity and analytical tools such as Office 365 and Power BI. Microsoft Dynamics 365 for Financials was launched in November 2016 and has new functionality releases quarterly and sometimes monthly.
Schneider Downs has been a Microsoft solutions partner for several years, and is currently implementing Microsoft Dynamics 365 for Financials with some of our clients. If your company would be interested in learning more about this product, or would like to view a demo of the product, please contact me directly. Or, click here to watch an overview video to see how Microsoft Dynamics 365 for Financials can help you manage your business.