The financial services industry touches nearly everything and everyone on a daily basis, helping organizations and individuals do business in a multitude of ways. The U.S. and Canadian financial markets are among the largest and most liquid in the world, and this high-growth sector represents substantial economic activity.
Dynamics 365 Business Central for Finance Services Firms is designed to alleviate financial operations challenges for a broad range of financial services businesses, including:
- Banks
- Asset management firms
- Venture capitalists
- Insurance companies
- Private equity firms
With its thorough understanding of the industry, Dynamics 365 BC offers incredible benefits to any business operating in the financial services sector.
7 Benefits of Dynamics 365 Business Central For Financial Services
The financial services landscape is changing every day, with all types of institutions facing incredible pressure to deliver exceptional, secure customer experiences at the speed of light. Dynamics 365 Business Central empowers intelligent banking and lets you run your organization in a more streamlined, connected way.
Here are just several of the advantages you gain by implementing this powerful ERP for your business.
1. Prevent data loss
Data analysis is at the heart of the financial services industry. Many organizations have yet to consolidate all their data in a single location, and the result is that their collection and distribution of data remains cumbersome and time-consuming. It also presents a real risk for data loss. Dynamics 365 BC is a single, unified platform that captures business-wide data under one roof where you can more easily ensure your data’s security and confidentiality. It also significantly mitigates the chance of data loss, saving you the time and resources you might otherwise spend on tracking missing data.
2. 24/7 Data Availability
Along with preventing data loss, cloud-based Dynamics 365 Business Central also ensures round-the-clock data access. Data is available to whoever needs it from wherever they are and on whatever device they’re using. Integrated features guarantee your data is secure and uncompromised.
Further, real-time insights and reporting make staying on top of industry trends, historical records, and future opportunities easier than ever. Leadership can make more informed decisions and generate reports quickly and efficiently so they can react faster to evolving organizational and customer needs.
3. Compliance and Regulations
The financial services industry must adhere to numerous complex rules and regulations. Manual financial processes such as spreadsheets make the compliance process tedious and prone to error. Dynamics 365 Business Central automates multiple processes, mitigating human error and reducing the amount of time employees spend on verifying, documenting, and reporting compliances.
4. Customization and Integration Capabilities
The financial services sector is known for its high number of processes and workflows. Dynamics 365 Business Central provides your organization with multiple capabilities straight out of the box, but you also have the flexibility to implement additional features and popular third-party apps. It also easily integrates with other Microsoft applications like CRM, Outlook, Office Suite, and Power BI.
5. Improved Employee Efficiency and Productivity
To best serve your customers and clients, employees need to access accurate data quickly. Dynamics 365 BC allows users to contribute, access, and share data with other team members with just a few clicks. And because the platform automates many previously manual processes, team members are freed from mundane tasks and can focus on other critical strategic business goals.
6. Customer Experience
Every organization in the financial services sector is greatly dependent on its credibility and reputation. Business Central can help you earn your customers’ trust and deliver exceptional experiences. Its CRM integration allows you to store customer data within the platform, providing you and your customer service and sales teams with a 360-degree view of every customer interaction. You’re much better equipped to understand your customers’ needs and resolve their queries, issues, or grievances.
7. Innovate For Sustainable Growth
When it comes to digital tools and the cloud, you need services tailored to your specific needs, challenges, and goals. Dynamics 365 Business Central for Financial Services Firms features advanced capabilities that add to your existing processes and offer greater levels of privacy, security, and compliance. With Business Central for Financial Services, your organization gets the digital support it needs to succeed today and far into the future.
It’s easy to see how Microsoft Dynamics 365 Business Central can benefit your financial institution. Implementing this game-changing, functionally-rich finance solution into your business operations can speed your digital transformation and keep you competitive.