D365 is a cloud-based system that combines CRM and ERP features into applications that efficiently integrate your entire business, including sales, marketing, service, operations, and commerce.
If you are already familiar with the benefits and features of Dynamics 365, you are probably aware that it can be quite helpful with various complex challenges in business.
However, this time the world is moving towards globalization, and now businesses have to deal with multiple currencies.
Now, you must have a question that many other businesses are also asking is if Microsoft Dynamics 365 F&O or Microsoft Dynamics 365 finance and supply chain management is capable of dealing with multiple currencies?
Probably, a short answer to this question is; YES. However, for the long review, let’s see how Dynamics 365 is a global partner for companies.
Multi-currency in Dynamics 365
Companies that conduct business in multiple countries or aspire to do business in multiple countries require an ERP system that can handle multi-currency transactions. Multi-currencies are supported by Microsoft Dynamics 365 for Finance and Operations, and the system can be adjusted to make it smooth for the user.
The user is not required to provide the exact exchange rate or conduct any study in order to obtain the correct prices. For worldwide enterprises dealing with different and continuously varying exchange rates, this is a tremendous time-saver.
So, what are the strengths of D365 F&O in managing so many currencies, and what guidance will you offer related to currencies?
The intricacy of financial reporting in specific countries is the main challenge for a global project. Here, extra effort is required to upload country-specific charts, followed by the creation of a shared graphic for all financial reporting. This is possible using Dynamics 365’s out-of-the-box features, but it takes time.
This is why you have DHRP professionals to work with you throughout the Microsoft Dynamics 365 implementation methodology. Core D365 features excellent multi-currency management capabilities.
If daily recalculations are a part of the project, we will not only assist you in setting up multiple currencies, but we can help you calculate the right value too. Additionally, we can provide you with examples of country-specific and shared charts of accounts.
Multi-company deployment
Consolidated corporations can be created for organizations that have several firms, whether through different entities or subsidiaries, to manage financial data from each included company.
Consolidation can be done among organizations with various charts of accounts, companies with distinct fiscal years or currencies, or even merely partial amounts of data from a corporation.
A consolidated corporation is structured similarly to a regular corporation. It will have a separate chart of accounts than the companies that make up its components.
For further guidance, you can always get assistance from DHRP professionals.
Microsoft dynamics 365 implementation cost
The resources of any company need additions and changes from time to time. So, the companies with higher goals in vision are willing to take the challenge. But they need the cost estimates and ROI, Check the Free ERP ROI calculatorbefore taking the plunge of investment.
However, for the organization of resources, an ERP system is the greatest choice for many. But then again, the one thing that remains in mind is cost. Whether you have a huge organization or running a small business, you still need the ERP cost per month or according to the selected plan.
The cost of Dynamics 365 is determined by the version, the number of users, and the software features they need to accomplish their job.
In addition to role-based licensing, application-based licensing is more common, in which you pay a per-user charge for individual programs. It might include Dynamics 365 for Sales, Microsoft Dynamics 365 FinOps, Customer Service, Operations, Project Service Automation, or Field Service.
Overall, Microsoft Dynamics 365 implementation can be as low as $10,000 or as high as a multi-million dollar project.
Final Words
We understand if you still have concerns about it. Implementation of multiple-currencies and multi-company can be a lot. But you don’t have to worry, as DHRP can help you with the Microsoft Dynamics 365 implementation project plan. To know more about our Microsoft dynamics 365 supply chain management, implementation process and cost, you can get connected with the experts anytime
