When it comes to personal banking, shopping or booking travel for example, nowadays we have no issue with picking up a smart device and using an app online. However, when it comes to business financial management software, some businesses don’t seem to be so keen on embracing the same level of technology.

With manual processes and spreadsheets still common place – businesses are being held back.

If this is you and you’re tired of the “this is how we’ve always done things” narrative, it’s time to change your financial management practices.

Microsoft Dynamics 365 Business Central provides a single, end-to-end software solution for managing your finance, operations, sales and customer service.

With easy upgrades, scalability, AI and process automation (among other things), Business Central really could be the system for you.

What’s more, it’s also hosted by Microsoft, eliminating on-premise or private cloud server costs and is all accessible through desktop, tablet and mobile devices.

The signs you’ve outgrown your financial management software

How do you know if you’ve outgrown your software? It’s not like a physical bell will ring to tell you to change, so here are a few of the signals we feel are the tell-tale signs to look out for:

  • Manual errors
  • Limited reporting functionality
  • Lack of integration with other business systems
  • Backlogs
  • Poor audit trails
  • Perceived loss of control
  • Disconnected systems and siloed information
  • Multiple data sets without a single source of truth
  • Lengthy reporting (i.e. month end, year-end, management reports and Making Tax Digital)
  • Using spreadsheets alongside finance system
  • Lack of workflows
  • Moving data outside of secure systems without security roles

If you recognise any of these in your day-to-day, Microsoft Dynamics 365 Business Central can solve your financial management woes.

Why consider Business Central?

Microsoft’s leading solution for small and medium sized businesses (SMBs), Business Central brings together the seamless integration of the Cloud, Windows Office 365, Power BI and PowerApps.

Cloud-based financial management software, as mentioned, is accessible on any device. Anywhere. Embedded with intelligent reporting, dashboards, AI functionality and access to the Power Platform (Microsoft’s suite of software that enable you to analyse data, build solutions, automate processes and create virtual agents) as standard. Users are able to personalise their insights every step of the way, helping to improve cash flow, predict late payments and choose suppliers for instance.

Twice yearly updates also ensure you’re always on the most recent version of your financial management software, allowing you to stay up to date and on top of your finances.

A wealth of third party add-ons also allow for additional functionality where needed, tailored to your business and your specific requirements.  – such as Continia and Jet for your reporting.

Business Central vs other solutions on the market

Ultimately the quality, speed and ease of use Business Central offers along with the flexibility that ensures it can grow as your business grows makes it the smart choice for your next financial management software implementation.

Reducing costs overall, this all-in-one business management solution will reduce your operating costs and increase your growth at a price that suits you.

Offering greater functionality compared to some of its peers, this is how Business Central stacks up:

Business CentralSage 50 – ProfessionalSage 200 – Professional
Licence price (per month)For current pricing see Microsoft websiteFor current pricing see Sage websiteFor current pricing see Sage website
10 full users’ priceas aboveas aboveas above
UsersNo limitup to 20 usersUp to 100 web users (50 for on-premise)
TransactionsNo limitUp to 1.5 million per annumUp to 9 million per annum
Supply ChainYLimitedY
Warehouse ManagementYLimitedY
Service ManagementYNN
ManufacturingYY via a separate moduleY via a separate module
Additional Information
ConfigurationVery configurableMinimal configurationMinimal configuration but some personalisation is available
Cloud or on-premiseBothHosted locally but access via cloud is availableBoth
Data AnalyticsEmbedded with Power BINLimited
ConnectivityY fully connective via CDM, 200+ connections availableNY via API’s
Office 365 integration (Outlook, OneDrive and Excel etc)Extremely strong two-way integrationAvailable from £10 a monthAvailable from £10 a month
Automation and custom applicationsY via Power PlatformNN

If you’d like to find out more about Business Central or how TVision could help you implement  financial management software that will streamline your processes, please get in touch with one of our business software experts. Or get a quote tailored to your business’ requirements.