Dynamics 365

Dynamics 365 Finance, Project Operations, and Human Resources 2023 Release Wave 2 Highlights

We are pleased to share the remarkable investments we’ve made in Dynamics 365 Finance, Project Operations, and Human Resources in this latest wave of enhancements. Let’s explore these new features and functionalities.

Bellows, a prominent professional services company, has recently migrated to Dynamics 365 Project Operations. To ensure comprehensive project tracking, they have adopted our new billed sales function, enabling them to capture project delivery and billing history effectively. Furthermore, our latest feature empowers their project managers to import estimates data at a granular level, such as resource time, material, or expense cost for tasks. However, budget lines can now be summarized at a certain dimension level, like task or role, making cost budget tracking more manageable and facilitating profitability through the use of the new cost-plus pricing feature.

In response to their client’s request for progress-based billing, our new functionality enables the definition of percentage-based milestones, ensuring invoices are sent upon reaching those milestones. Additionally, resource allocation becomes seamless with AI-driven resource recommendations, which evaluate experience, utilization rate, and cost to suggest the most suitable resources for each role.

Thanks to our innovative bulk resource reconciliation feature, Bellows’ project manager can effortlessly move all bookings and requirements, saving valuable time. Moreover, execution time for bulk approval operations is significantly reduced, streamlining daily processes.

To enhance project performance visibility, our project cost budget management feature allows the tracking of actual costs against the cost budget for time, material, and expenses. With the new project sales budget management feature, the project manager gains better control over project sales performance by monitoring actual unbilled sales against the sales budget.

We have also integrated vendor invoice management across Finance and Operations, unifying the purchase details captured in both systems to ensure a consistent version of information.

In Human Resources, Bellows’ head of project management leverages our new next-generation recruiting application to submit recruitment requests. This feature enables HR to create and post jobs, manage candidate pipelines, coordinate interviews, and deliver job offers. Additionally, a user-friendly job portal built on Power Pages keeps candidates up to date throughout the hiring process.

Our focus on autonomous finance has led to significant automation investments. Revaluating foreign currency accounts and transactions for global organizations like Bellows during period-end can now be automated, saving considerable time. Our invoice automation solutions handle the majority of vendor invoices; however, exceptional cases can be efficiently addressed through our new workspace, presenting invoices requiring review to the AP clerk.

To address the complexity of tax compliance, we have integrated our tax calculation service with various modules, including invoice register, invoice approval, and project operations. This integration ensures accurate tax determination and calculation on project transactions and invoices.

To empower finance teams, we’ve introduced business performance analytics and extended planning analytics. These user-friendly tools provide non-technical users with insightful data accessed through familiar solutions like Excel and Power BI. This allows proactive decision-making to improve performance, such as insights into supplier spending trends and a comprehensive 360-degree view of suppliers. Additionally, our customer-ready extended planning analytics solution enables the deployment of actions using Power BI and Excel, combining ease of use with robust planning capabilities.

In light of the expanding country-specific regulations, we’ve prioritized compliance support. Electronic invoicing services ensure compliance with e-invoice regulations in various countries, and in Italy, legal entities can associate multiple sales tax and VAT registration numbers. We’ve also introduced new out-of-the-box localizations for six additional LATAM countries, easing the burden of managing different business practices, tax, and regulatory compliances.

For further details, please refer to the complete release notes and take advantage of the early access features as they become available. We are delighted to equip Bellows and all our customers with these innovative tools, guiding them towards sustainable success.