While great strides have been made in recent years, it is still true that most finance departments rely heavily on manual processes. Given the importance of the tasks and activities and the room for human error, using advanced technology to ensure more accuracy and efficiency is a must. This can be achieved through the Power Automate functionality in Microsoft Dynamics 365 Business Central and we explain how below.
What is Microsoft Power Automate?
Microsoft Power Automate is a cloud-based service that enables you to create bespoke automated workflows. This ensures that recurring routine tasks and processes can be carried out automatically within Microsoft Dynamics 365 Business Central, helping to make your finance department more efficient and productive. With Power Automate, you can create individual workflow solutions between different services inside and outside of the Microsoft Cloud, maximising the full potential of intelligent automation.
How intelligent automation works
There are lots of processes and activities that can be automated within your finance department using intelligent automation, which is comprised of three main factors:
Digital Process Automation (DPA)
You can use DPA to automate workflows across services and applications, while also having the ability to sync files, collect data, receive notifications and perform other common tasks across modern cloud services.
Robotic Process Automation (RPA)
Utilising this functionality ensures manual tasks are automated into workflows. This is done by recording and playing back human driven interaction using legacy on-premise software systems. RPA can be programmed to run without human assistance, allowing high volume activity to be automated, so repetitive processes and tasks can be carried out, with the option for humans to intervene if necessary.
Artificial Intelligence (AI)
When AI models are integrated into workflows, this can be done on a low or no-code approach, depending on your needs. Business Central offers finance insights that offers detail about customer payments, intelligent budget proposals and cash flow forecasting. This delivers data and outcome-driven finance to support better decision making right across the organisation.
How Power Automate can help your finance team
When these three factors are bridged into Power Platform, your business can significantly benefit from compliant and secure automation. Relieving your finance team of repetitive, manual and time-consuming processes frees up more time for them to focus on higher value work.
For example, Power Automate can take care of common tasks such as invoicing, helping to streamline operations and processes within the department. It can also be deployed to view real-time insights or even offer predictions based on current data sets. When this is connected across your business as a whole, every department will have a much clearer picture and a single source of truth to work with.
Services can be improved through the collection of intelligence on a larger scale. For example, when forecasting labour and product requirements, Power Automate can help you make predictive and real-time decisions, enabling you to react faster to internal circumstances and improve efficiency across the board with external activities.
Get started today
The D365experts team is waiting to hear from you today to discuss your needs in more detail. We have a long track record of working with businesses in a variety of sectors, enabling them to enjoy the many benefits Microsoft Dynamics 365 Business Central has to offer. Get in touch for an introductory chat or to book a free demo and we’ll be happy to help.
You may be interested in: How Intelligent Automation Improves Your Marketing and Sales Performance