Business Central vs Finance in Dynamics 365
Dynamics 365 Business Central Vs Finance: An Overview
Leveraging innovative technologies like machine learning, big data analytics, and the cloud to advance your organization's growth is no longer a hefty job. It is now easy with modern ERP and CRM software applications since they are powered by these techs to help you make informed decisions based on the collected data - essential to keep the organization ahead of the curve.
Thus, choosing an ERP that favors your business processes can be disastrous if not done right. So, to assist you in avoiding ERP failure and help choose the ERP fit for you, we have compiled the list of key differentiators between two popular ERP modules from Microsoft: Dynamics 365 Business Central and Dynamics 365 Finance.
Busting Some Myths
Before going further, let us bust a few myths roaming around about ERP selection and Implementations.
Key Distinctions Between Business Central
and Dynamics 365 Finance
| Features | Dynamics 365 Business Central | Dynamics 365 Finance |
|---|---|---|
| Multi-Currency | Yes | Yes |
| Cost Accounting | Yes | Yes |
| Multi-Language | Yes | Yes |
| Type of Companies | SMBs/SMEs | From medium MNCs to large international groups |
| Electronic Funds Transfer | Yes | Yes |
| Minimum Number of Users | 1 | 20 |
| Office 365 Integration | Yes | Yes |
| License Cost | $70 to $100 per user / month | $30 to $180 per user / month |
| Workflows | Yes | Yes |
| Email Integration/Outlook | Yes | Yes |
| Availability | 33 Countries | 140 Countries |
| Web or Mobile Client | Yes | Yes |
| Document Management | Yes | Yes |
| Intercompany Posting & Consolidated Statements | Yes (with in the country/localization) | Yes |
| Auto Elimination Accounting | Yes | Yes |
| Budgeting | Yes (Basics) | Yes (Advanced) |
| Fixed & Variable Allocations | Yes | Yes |
| Fixed Assets | Yes | Yes |
| Budget Control | No | Yes |
| Ledger Allocations | No | Yes |
| Financial Dimensions | Yes (Up to 8 Dimensions) | Yes (Unlimited) |
| Bank Reconciliations | Yes | Yes |
| Global Charts of Accounts | No | Yes |
| Microsoft User Interface | Yes | Yes |
| Multiple Posting Layers | No | Yes |
| Multi-Company | Yes | Yes |
| Consolidation | Yes | Yes |
| Multiple Legal Entities | Yes | Yes |
Which application suits your business?
Let's connect our Microsoft Consultant to learn more about
Dynamics 365 Business Central and Finance Capabilities
What must you consider while choosing an ERP (Enterprise Resource Planning) or CRM (Customer Relationship Management) App?
Buckle up and do your work to the best of your abilities. Get into know the processes of international inter-company trading, complex supply chains, financial compliance, mixed-mode manufacturing, and similar others.
Search for vendors and select the one that resonates most with your needs. Then go for Dynamics 365 Finance if you have larger business operations & finances to manage or choose Dynamics 365 Business Central if you have a small or medium-sized business that needs to perform locally.
Several factors determine the cost of the system. Dynamics 365 Business Central, for example, is about 35% of D365 Finance in terms of implementation cost. In this regard, Dynamics 365 Business Central offers a much more affordable solution.
However, if you consider other factors like licensing, Business Central can be a more expensive deal than Dynamics 365 Finance. Therefore, the system's cost will vary depending on a variety of factors and the number of configurations.
The selection of an ERP system has no direct relationship with the size of your company. It is mostly proportional to your business requirements. Business Central is suitable for small to medium businesses (SMBs/SMEs) housing less complex business mechanisms. While Dynamics 365 Finance leans toward businesses that have larger and more complex operations to manage.
However, there may come a time when some small and medium size companies would run a business with complex business ops, then choosing Dynamics 365 Finance can be the right decision.
Never buy into the myths roaming around the corners these days. Always talk to ERP/CRM vendors, do extensive research, and then jump into choosing the business management system that is right for you. Or contact us. Our experts are always available to help you out.
However, when it comes to Microsoft products, you can jump right in, discuss your needs, and get the job done. Whether you choose Dynamics 365 BC or Finance, you get the assurance and many scopes to comprehend which one is the best fit for you.
