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  • Writer's pictureJoshua Anderson

UPDATES: Microsoft Unveils Groundbreaking Finance & Operations Improvements in 2024 Release Wave 1

Updated: Apr 30

Dynamics 365 Finance 2024 Release Wave 1

Release Wave 1 of Dynamics 365 Finance is dedicated to furthering improvements and integrating AI-driven features into business performance planning. It aims to simplify the configuration of default financial dimensions through the guidance of AI rules, enhance automation in bank reconciliation and netting processes, broaden country coverage, and optimize tax automation and scalability.


In a recent presentation by Turnkey Senior Operations Director Joshua Anderson, he highlighted Microsoft's groundbreaking developments set to revolutionize the landscape in the first half of 2024. Microsoft is focusing heavily on integrating copilot and AI generative technology into finance and operations functions, enhancing efficiency and user experience.


Highlighted Features

Several features within finance and operations are set to make a significant impact. The copilot-supported Excel add-in for planning, scheduled for public preview this month, enables streamlined resource planning through Excel. Additionally, the globalization studio introduces default tax-related calculations, potentially eliminating the need for third-party services and reducing costs.



Copilot's Impact: Work Smarter with AI

The central theme revolves around copilot, with Microsoft aiming to seamlessly incorporate it into every module of finance and operations. Key features include the ability to summarize purchase order changes, provide conversational product help, use natural language for inventory checks, and even integrate inventory chatbots into applications or websites. This move towards virtual assistants and agents promises a more intuitive and efficient user interaction.


Supply Chain and Inventory Management

In the realm of supply chain and inventory, copilot continues to play a role, enabling the sale and pricing of multiple items as a bundle. While some features, like viewing and managing inventory with a new mobile app, have been available, the enhanced user experience tailored for warehouse workers adds a layer of efficiency.


Project Management Evolution

For project management and accounting, copilot takes on a new dimension by allowing the generation of project plans and assessment of issues and risks. The emphasis on cost-plus pricing, forecasting, and other BI-oriented capabilities signifies Microsoft's commitment to addressing pain points and enhancing efficiency.


Technical Advancements

On the technical side, Microsoft is making strides toward a microservices architecture, breaking down the original code base into submodules. This approach aims to enhance flexibility and improve specific functionalities like master planning. The integration with data verse serves as an enterprise services layer, providing seamless connectivity and sharing of data across D365 components.


Human Resources Integration with Microsoft Teams

In the HR domain, Microsoft is enhancing user experience by integrating more features with Microsoft Teams. Employees can now check and manage time off accrual and requests directly through the Teams interface, showcasing a thoughtful integration of collaboration tools with HR functions.


Government Compliance and Certifications

For government and military clients, Microsoft is actively investing in high environment capabilities, ensuring compliance with regulations and standards. The certification on the F&O side indicates a commitment to meeting the specific needs of public sector and military customers.


Microsoft's latest innovations in finance and operations showcase a commitment to efficiency, user experience, and technical advancements. The integration of copilot, along with other features, promises to elevate the functionality and usability of finance and operations platforms, making them more intuitive, collaborative, and compliant with industry standards. As these updates roll out, businesses can anticipate improved workflows and enhanced capabilities in their financial and operational processes.



Check Out More Release Wave 1 Plans

 




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