Microsoft Dynamics is one of the most popular Enterprise Resource Planning (ERP) app solutions. Microsoft has several ERP solutions. Before making your choice, it is best to understand what each solution represents so that you can make the right choice for your company.
Dynamics GP
The first version of Dynamics GP was an accounting system, released in 1993. It was, at the time, developed by Green Plains Software. Microsoft acquired it in late 2000 and integrated it into their ERP solution.
This ERP solution is great for SMEs. It is great for budget management, advanced business consolidation, and financial reporting. Dynamics GP can be integrated with other systems, especially for companies wary about leaving a system that is working for them. Some systems cannot accommodate growing companies. Dynamics GP’s scalability properties make it ideal for growing companies. Unfortunately, Dynamics GP has a weak multi-currency functionality.
Dynamics SL
This is one of the first resource planning solutions developed by Microsoft. It was designed for SMEs that deal with different projects. This app gives companies that manage projects an easier time during handling and accounting. Companies in construction or those in media can keep track expenses, output, and the overall budget.
It is sometimes difficult to get optimum output from field service projects. However, with close monitoring, the features in this project oriented app make project management more efficient and productive. Some of the departments that benefit from the functionalities of Dynamics SL include manufacturing, supply chain management, e-commerce, analytics, field service, and finance.
Dynamics C5/ Navision
Damgaard Data developed this software in 1995. In 2001, it merged with Navision. When Microsoft acquired Navision in 2002, the name of this ERP solution was changed to Microsoft Dynamics C5. It is important to note that Dynamics C5 is exclusive to financial and inventory management. It is, therefore, a great choice for small companies looking for a system that only manages finances and inventory.
If you would like a software that handles more than is available on Dynamics C5, you should consider Dynamics NAV. Besides getting more services, Microsoft announced that it would soon halt the support for Dynamics C5. It is therefore best to upgrade or install Dynamics NAV, especially if you factor in the future growth of your business.
Dynamics AX
This ERP solution works best for manufacturing and distribution companies. It is an excellent solution for large organizations since it requires more resources to implement and operate when compared to other Microsoft ERP solutions. Companies that use this software tend to have a dedicated team of IT specialists with expertise in business analysis and ERP. This app is also cost-effective if a company has a significant number of people using the system.
Dynamics 365
Microsoft Dynamics was launched in 2016. This product is a combination of Dynamics AX ERP and Dynamics CRM application. This business tool has an array of features that help companies to manage internal operations of the business and customer relations. This app gives users various options on features to acquire based on the company’s needs. Some of the features include customer insights, marketing, customer service, field service, finance and operations, retail, project service automation, sales, and talent.