Dynamics 365 2020 Release Wave 1- Dynamics 365 Project Service Automation
When most people hear of the word ‘project,’ the first thing that comes to their mind is difficulty and complicated implementation. In line with this, many companies and products have attempted to streamline the process of handling project-based services. As always, Microsoft is at the leading edge, thanks to its widely recognized Dynamics 365 Project Service Automation. The app optimizes the efficient usage of resources while helping entrepreneurs to land and complete projects successfully.
D365 Project Service Automation capitalizes on sales, pricing, resourcing, timeliness, budget, invoicing, and work breakdown structure functionalities. Upon streamlining these project facets, businesses can deliver exceptional project experiences. As a result, they build their portfolios while maintaining and growing a healthy customer relationship.
Microsoft communicated that the next release would aim at giving organizations with project-based services a modular offering. This will bring forth a smoothly functioning quote to cash for projects by combining selected and pertinent functions of Microsoft Project, Project Service Automation, and dynamics 365 Finance.
The D365 Project Service Automation currently leverages Microsoft Power Platform and Common Data Service to offer efficient pricing, costing, and resource management. These allow entrepreneurs to manage projects with much-desired confidence, resource optimization, forecasting of profitability, and increasing employee productivity. With the app re-platforming to Common Data Service, Microsoft says they will be able to make the functionalities even more competitive. There will be value-added project planning and task-scheduling capabilities, which will enable companies to deliver projects even more successfully. Companies will be able to drive innovation with a state-of-the-art adaptable platform that is easy to extend, tailor, and connect to other apps to optimize service delivery.
Leveraging the service industries module in Dynamics 365 Finance
The D365 Finance Service Industries helps chief financial officers to grow beyond transactional mediation and accurate reporting. It uses revenue recognition, invoicing that leverages real-time exchange rates, and a rich sales tax feature. All these help financial officers to take proactive actions to add business value, reduce risks, and find new opportunities. Upon merging the module with D365 Project Service Automation, users of the product will be able to perform the financial obligations of every project more accurately using the expanded financial capabilities. For instance, invoicing and cash flow management will be more effective.
The anticipated theme for the 2020 wave 1 release
Microsoft disclosed that the near future release waves would be about taking advantage of the best Office and Dynamics 365 solutions, with an aim to streamline finance, operations, and CE platforms. A resource like Microsoft Project allows users to stay organized and focused while successfully tackling projects of any magnitude. Excel will also be integrated due to its capabilities that simplify accounting, data discovery, collaboration, and access.
Customer Experience web platforms help to create an excellent customer experience by driving interactivity. They help project managers communicate with customers on multiple edges throughout the time of the project. Some of the best CE platforms combine engaging dashboards, UX, analysis metrics, action plans builders, and much more. They even allow managers to handle arising cases and receive public ratings and reviews. Microsoft will integrate such extreme abilities with the Dynamics 365 Project Service Automation in order to provide the best functionalities coupled with ease of access.
Theme 2: Model Alignment with finance project functionality
Any proper model alignment optimally synchronizes strategy with structure, metrics, rewards, people, culture, and leadership. There are many benefits that organization alignment brings about. They include improved speed in decision making, better employee engagement, optimal utilization of resources, and enhanced individual governance. In respect to project finance, model alignment enables transparency, promotes a dynamic culture, and improves credibility. Besides, it supports safe risk-taking by helping finance officers predict the possible outcomes of taking risks. Microsoft aims at bringing this phenomenon to the table during the wave 1 release and later releases as well.
The future of Dynamics 365 Project Service Automation is bright. Microsoft will improve the product as well as add integration capabilities to optimize task scheduling, planning, financial elements, among other project aspects. In their latest information on the same, they confirmed that they are still working on the engineering and release timelines to come up with the best way forward for their customers.