What does digitalization and automation of accounting look like with Microsoft Dynamics 365 Finance? The journey to modernizing your accounting processes can include several key steps that transform traditional accounting operations into a digital format.
Digitalization with Microsoft Dynamics 365 Finance
Each organization has its own specific requirements and goals when digitalizing accounting with Microsoft Dynamics 365 Finance. Careful planning and a step-by-step approach are crucial to ensure your new digital infrastructure delivers maximum value.
What Does Digitalization and Automation of Accounting with MS D365 Finance Bring?
- Planning and Analysis – identify current accounting processes and weak points, set clear goals and measurable benefits of digitalization for your business, evaluate available technologies, and select the right tools.
- Selection and Implementation of Microsoft Dynamics 365 Finance – choose the right plan and configuration of Dynamics 365 Finance based on your company’s needs, deploy the system, and tailor it to your specific accounting workflows.
- Data Integration – migrate existing accounting data into Dynamics 365 Finance and connect the system with other internal or external applications as needed.
- Task Automation – identify tasks suitable for automation (e.g., invoicing, approval workflows, expense processing) and set up automated routines.
- Electronic Invoicing – implement e-invoicing, enable receiving of electronic invoices from suppliers, and integrate with external e-invoicing platforms.
- Document Digitalization – scan and digitize paper records such as invoices, contracts, and other key documents, and store them securely in the system for easy access.
- Centralized Accounting – establish centralized accounting to manage and monitor financial records across departments and branch offices.
- Reporting and Analysis – create custom reports and dashboards in Microsoft Power BI to monitor financial metrics and performance indicators.
- Continuous Improvement – regularly track digital accounting performance and identify areas for further enhancement and optimization.
