Using AI in Dynamics 365 Business Central

by | Nov 21, 2023 | Microsoft Dynamics 365, Business Central

Artificial intelligence is no longer science fiction. It has become a reality right before our eyes. Today, machine learning and data analytics innovations provide countless business opportunities. Microsoft Dynamics 365 Business Central makes sophisticated AI accessible to small and medium-sized businesses with features that help them work smarter, faster, and better.

Understanding Data Migration for Microsoft Dynamics 365

Microsoft Dynamics 365 is a cloud-based portfolio of business applications from Microsoft. It is designed to assist organisations in improving operational efficiency and lessening business complexity while controlling costs.

Microsoft Dynamics 365 cloud applications are developed to be intelligent and linked by data. This way, employees can work together and connect different business functions, such as sharing relevant data. The Dynamics 365 portfolio comprises applications for customer service management, sales, marketing, finance, and supply chain management.

Would you like a sneak peek at how we’ve helped others with their data migration? In two minutes, you can examine and download our data migration case study , read how we have helped other companies, and learn how we can help you with your data migration.

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How Can You Access the Power of AI in Dynamics 365?

Dynamics 365 Business Central has the flexibility to incorporate AI in the way that best suits your needs. From AI integrated into Business Central to purpose-built solutions from independent developers, there are many ways in which your business can enjoy artificial intelligence.

Microsoft Copilot

Copilot is a built-in digital assistant based on natural language processing. It comes with Business Central and other Microsoft Products (such as Office or CRM). Its goal is to boost productivity by handling repetitive tasks and automating workflows.

App Marketplace AI Add-Ons

Business Central marketplace features many plug-and-play AI apps by independent software vendors (ISVs). Easy to install, they deliver specific AI capabilities like predictive analytics for cash flow forecasting or inventory optimisation.

External AI Platforms

Another way to customise Dynamics 365 Business Central is data export into external AI engines. Both Microsoft and third parties offer such tools. The AI model of your choice analyses exported data and delivers insights. You can then import the results into Business Central and use them for decision-making.

AI-Powered Microsoft Applications

Business Central can integrate with other Microsoft solutions. You may use AI capabilities in apps like Outlook, Office 365, Viva Sales, etc. Thanks to the constantly expanding set of AI touchpoints, you can access diverse options to gain strategic advantages over your competitors.

Do you want to unlock the full potential of Microsoft Dynamics AI but are unsure how? Allow professionals to handle it all for you. Mercurius IT, a gold-certified Microsoft partner for Dynamics 365 ERP, provides customised solutions for your unique processes and objectives. With profound expertise and a proven track record of successful implementations, we can help you make the most of Microsoft Dynamics 365 AI.

Benefits of Using AI in Dynamics 365 Business Central

AI in Dynamics 365 is an excellent opportunity to transform your business processes and gain a competitive edge. Here are just a few benefits it can bring to your company.

Automate Manual and Repetitive Work

You no longer need to do mundane tasks all on your own. You can delegate them to AI thanks to the integrated digital assistant Copilot. Copilot uses natural language processing to interpret requests and take action instantly.

For instance, you can ask it to create a £1,000 invoice for XYZ Corp for consulting services. Copilot will automatically generate the invoice based on your instructions. This way, you can forget about repetitive manual data entry.

AI-generated content is another way to save you time and effort. Whether you need product descriptions, an email newsletter, or a blog post for your website, Copilot has got you covered. It can produce unique, engaging marketing texts in seconds using your prompts or product attributes (size, colour, features, etc.). Even better, it can tailor the content to fit your brand voice.

Does your business spend too much time on data entry? Would you like to reduce errors and help your employers focus on high-impact work instead? Optical Character Recognition, another AI-powered feature, will come in handy. With it, you can convert PDF files into purchase and sales documents, prepare financial statements, and many others. Resulting in your team working faster and error-free.

Enhance Inventory Management

Effective inventory management is critical for companies that depend on moving products quickly. It is the key to maintaining a high level of customer service.

The Sales and Inventory Forecast extension will help you avoid out-of-stock situations and dissatisfied customers. It can accurately predict demand using predictive analytics algorithms and relying on historical sales data. You only need to use these forecasts to optimise your inventory orders.

When the extension identifies upcoming inventory shortfalls, it can automatically generate purchase orders to replenish stock before it sells out. With such an approach, it is possible to keep the most popular items available at all times.

All in all, AI-powered inventory management allows for minimising shortages or overstock.

Identify Issues Proactively

Small issues like customers paying invoices late can quickly spiral into major cash flow emergencies. You cannot let such problems threaten the health of your business. Luckily, there is a solution. The Late Payment Prediction extension uses the power of machine learning to analyse data and forecast if an invoice will be paid on time.

With information about high-risk invoices, you can adjust your payment terms or methods. For example, offering instalment payment plans instead of demanding full upfront payment could help retain customers who need more time.

Would you like to catch potential problems before they escalate? Do you want to mitigate financial risks proactively? Microsoft Dynamics AI and its ability to extract insights from data paves the way for smarter decisions.

Create Accurate Cash Flow Forecasts

Having clear visibility into cash flows is vital for any business. It is simply necessary for strategic decision-making and maintaining solvency. The Cash Flow Analysis feature and Microsoft Azure AI can give accurate cash flow forecasts.

These AI-powered projections can give you the information you need to stabilise the company financially. For instance, if a forecast shows a cash surplus, you may pay down debt or invest in growth initiatives. On the other hand, when there’s likely to be a deficit, you may choose to reduce expenses or secure financing early on favourable terms.

Microsoft Dynamics 365 AI and its Cash Flow Analysis give access to data-driven cash flow insights. With easy-to-understand visualisations, taking full control of your financial trajectory has never been easier.

cash-flow-forecast-chart

AI in Dynamics 365 Business Central to Revolutionise Your Business

Integrating AI in Dynamics 365 Business Central isn’t a minor improvement. It is a game-changer. In today’s fast-paced business environment, innovation is a must to stay competitive. AI is the perfect tool to drive growth, efficiency, and strategic advantage.

If you’re still considering embracing AI, the time is now. Experts from Mercurius IT can help your business transition into the AI-powered age. With deep expertise in cutting-edge Microsoft technologies and proven success optimising Dynamics 365 for individual client needs, Mercurius IT can develop your ideal AI solution.

Don’t miss your chance to beat the competition. Contact us today to schedule a consultation and bring the AI revolution to your business. With Mercurius IT as your partner, you can set your operations up for data-driven, AI-enhanced success.

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