Not too long ago, the Microsoft Dynamics 365 product line got a major update. The update focuses on how to collect and understand the data to provide better customer experiences. This tells us about the importance of growing data in an enterprise.
Improved customer experience is the goal of all the ERP Solution vendors. The newly promoted head of Microsoft’s business applications, Mr. James Phillips explained: that they have been focusing on harnessing the growing amount of data and making use of it within the applications.
Microsoft Dynamics 365 is a line of business-oriented software. The business dynamics are relying heavily on the data. Microsoft is trying to make use of that data by utilizing it in the most efficient ways. As data is collected from everything and if properly harnessed, can be used by organizations to be proactive and not reactive. Software, like Dynamics, is trying to do this.
Customer Engagement Tools
Microsoft is adding functionality to its customer data platform. The concept is a successful one and this is the reason major vendors and startups are adopting it. The basic working principle of CDP is to place the data from all the sources into one place, make it easier to understand, easier to see how the customers interact with the companies. Microsoft has named their CDP software “Customer insights”. It is also a part of the Microsoft Dynamics 365 software series.
Microsoft is also looking to add connectors. The purpose is to generate the complete picture of the customer. The connecters will enable the Microsoft Dynamics users to add first- and third-party data connections to Microsoft Dynamics 365 data insights. All of this data can be stored and then harnessed from Dynamics 365 customer insights.
Other features this Dynamics update brought to the table are: sales forecasting tools and Dynamics 365 sales engagement center. The first one will enable the users to predict which sales discussion with the customers will turn into the actual sales whilst the second one can give the sales team the next best action to take. They bring new capabilities to the customers of Microsoft Dynamics.
Operation Level Tools
Operations commence after the sales, similar to the customer insights. Dynamics 365 finance insights is the software by Microsoft to help with the financing. It basically helps the users to predict and accelerate the cash flow. The software is specifically designed to identify and focus on the opportunities and possibilities such as, there may be a cash shortfall etc.
Another tool being introduced to help with the business is the Dynamics 365 project operations, where instead of sales, there are projects. It combines the functionality of Microsoft project and dynamics 365, so that one can focus on the front-end operations with the back-end resource planning at the same time.
These tools are designed to take advantage of the data flow, and Microsoft isn’t the only one working towards it. Microsoft Dynamics is the ERP of the system and its ERP solution is advancing at a relatively higher pace, but other vendors are also catching up. They are incorporating similar techniques and trying to provide the improved customer experience.