Digital disruption is here with us – and it’s changing the way businesses operate. To keep up with the ever-evolving business landscape, Microsoft, for instance, continues to enhance the features of its accounting software solutions. Today, the company has many solutions including Dynamics NAV, Dynamics GP and Dynamics 365 Business Central.
The latter is the most recent entrant into the market and is designed to integrate customer engagement and business processes that allow quick decision-making in real time. Best of all, it’s fully hosted on the cloud for unparalleled security, performance, and reliability. So that at the end of the day, you will have a system that not only oils the efficiency of various processes but also improves the overall productivity of your organization.
Both of the accounting software solutions share the same code base and offer almost the same functionality. They both provide various ways of reporting, budgeting, and eBanking. On top of that, both Dynamics GP and Dynamics 365 not only offer support for Fixed Asset Management but they also allow you to segment the General Ledger Account Structure. However, Business Central is limited regarding this functionality. Unlike Dynamics 365, Dynamics GP includes forecasting, accounts and inter-company transaction processing.
Microsoft Dynamics GP offers you the flexibility you need to choose a solution that suits your business needs. The GP package provides a variety of licensing plans, including subscription licensing, perpetual licensing, cloud hosting, and hosting on-premise. Sometimes, it can also be a combination of these. Furthermore, Dynamics GP offers various ISV add-ons that extend the functionality of the system. Unlike Dynamic 365 Business Central, Dynamics GP is excellent software for processes like service management, manufacturing, human resources, and payroll. However, some Dynamics GP users have reported operational reporting challenges.
Dynamics 365, on the other hand, doesn’t have payroll processing functionality. That means if you choose to migrate, you will have to find software to run payroll.
Business Central is one of the latest accounting software products developed by Microsoft. While the software is built for the same function as Dynamic GP, it is not going to replace it.
What makes the software impressive is the mode of licensing. The software is licensed on a full “SaaS” model. That means your accounting solution will be hosted on the cloud (Microsoft’s Azure). That way, you will only be required to purchase a friendly monthly subscription for a plan that works best for your business needs.
Since it’s cloud-based, it means you don’t need to worry about IT server maintenance including patching and upgrading the server software or security concerns. Besides, Microsoft will automatically fix bugs and implement any necessary enhancements and updates for your Business Central applications. Also, as no physical IT infrastructure is required, you are not going to incur up-front setup costs for servers, hardware, and other components.
|Description||Dynamics GP||Dynamics 365|
|Users||Up to 500||Up to 250|
|Employees||1,000||Up to 250|
|Revenue (millions of $)||Generate $5 – $500||Generate $5 – $50|
|Industry type||Can be customized for different industries, including non-profit, wholesale distribution, financial services||You don’t need industry-specific functionality/customization.|
|Hosting||On-premise costs range from $650 to $1450 per month.||Included in per user pricing|
Hosted in the Microsoft Azure Cloud
|Pricing per user||$65/month||$85.11/month|
Dynamics GP is not going anywhere soon. However, if you are interested in the latest features, efficiencies and improvements, consider going the Dynamics 365 route. Why? Most of the best new features and enhancements will be made available to Business Central users first – way before they make their way to Dynamics GP – as Microsoft is focusing most of its attention there. Even if you’re not on Dynamics GP now but a different 3rd-party solution like QuickBooks – upgrading to Business Central allows you to do much more.
Here are some of the benefits you will end up with at the end of the day:
Whether you use Dynamics GP, QuickBooks, Sage, something else, or maybe even nothing, Dynamics 365 Business Central is an affordable, easy to use, and feature-rich all-in-one accounting and operations management solution that integrates with the rest of your business. If you’re not sure where to get started, you can look to the Tier 1 Microsoft CSP and Microsoft Gold Certified Dynamics Consultants at 360 Visibility to help you evaluate your current accounting system and determine the best course of action for your business.
360 Visibility is one of the only Microsoft Cloud Partners that specialize in Microsoft Dynamics, Azure Cloud, and Office 365. We can offer your business a complete 360 solution that is integrated, flexible, and cost-effective. We help businesses See Clearly and Act Faster with smarter applications and infrastructure. At 360 Visibility, we leverage the Microsoft Cloud Platform to build the best possible cloud experience for your business.