The Total Economic Impact of Microsoft Dynamics 365 Finance
In the swiftly changing enterprise resource planning (ERP) landscape, we’re witnessing the emergence of Digital Operations Platforms (DOPs). Central to this change is an enhanced user experience supplemented with AI-driven procedures tailored for digital business operations. A total Economic Impact (TEI) study was conducted to evaluate the potential financial benefits for companies that implement Microsoft Dynamics 365 Finance as their DOP. Continue reading this blog to learn about how Dynamics 365 Finance helps with staff productivity and legacy cost savings.
Harnessing Dynamics 365 Finance for Efficiency and Legacy Cost Mitigation
With their cumbersome designs and abundant customizations, legacy ERP systems often delay business progress. In stark contrast, Dynamics 365 Finance is a powerhouse that automates mundane tasks, offering finance experts real-time insights. This agility makes staying attuned to the digital business tempo a breeze. This transition to Dynamics 365 Finance yields a two-fold boon: surging finance and IT personnel productivity levels and significant savings from sidestepping legacy costs.
Elevating Finance Team Efficiency
In a pre-Dynamics 365 Finance world, legacy ERP was synonymous with manually crafted reports. Consequently, larger teams were mandated, and the data was often outdated when reports reached stakeholders.
With Dynamics 365 Finance, businesses experienced a drastic change. Uniform financial procedures became the norm, and real-time data-backed automation empowered finance units to redirect manpower to tasks of higher strategic importance. A striking finding: over a span of three years, finance staff’s productivity value enhancement amounted to a staggering $2.30 million.
Revitalizing IT Staff Productivity
The IT realm also benefits from Dynamics 365 Finance. Legacy ERP systems, with a tenure often exceeding ten years, brought their own tribulations. While initially seen as advantages, customizations morphed into challenges, especially with the original experts branching out. This led to even minor tweaks becoming arduous.
Dynamics 365 Finance drastically trimmed down admin and developer hours and ushered in an era where more could be achieved with fewer customizations. The three-year productivity boon for IT staff was a significant $402,870.
Averting Legacy Expenditures
The cost-saving advantages extended beyond just productivity. Dynamics 365 Finance enabled businesses to dodge the financial bullets their legacy systems would have inevitably fired. The savings racked up, be it reduced infrastructure costs, the shutdown of overlapping solutions, or diminished auditing expenses. The bottom line over three years? An impressive $3.52 million saved.
Next Steps
If you are interested in learning more about the total economic impact with Microsoft Dynamics 365 for Finance, contact us here to find out how we can help you grow your business. You can also email us at info@loganconsulting.com or call (312) 345-8817.
