Microsoft has created a range of technologies to cater to the needs of different businesses and industries. What’s more, it continues to improve them by incorporating new features and functionalities. So knowing the difference between each Microsoft tool can be challenging, especially for people who have just begun exploring the platform.
To help you find the right one for your business, I’ve highlighted the key characteristics of some of the most popular versions of Microsoft Dynamics.
The Difference Between Versions of Microsoft Dynamics
Before I dive into the details about the different versions of Microsoft Dynamics, I would like to highlight one important aspect that can help you understand their differences.
Microsoft Dynamics was initially created to help small businesses manage processes onsite. However, as organizations needed remote capabilities, Microsoft started offering products for the cloud. So the previous Microsoft Dynamics versions were transitioned over to Microsoft Dynamics 365, a SAAS (software-as-a-service) platform.
A Closer Look at Some Microsoft Dynamics Versions
1. Microsoft Dynamics AX
Microsoft Dynamics AX was released in 1998, making it one of the oldest Microsoft Dynamics versions. It was created as an ERP (enterprise resource planning) software to help medium to large businesses with financial management, supply chain management, human resources, manufacturing, etc. Microsoft ERP Dynamics streamlines financial and operational processes, automates processes, and supports collaboration with different departments.
Later, the tool was rebranded and is now known as Microsoft Dynamics 365 Financial Planning and Operations. However, some companies still continue to use versions of Dynamics AX even today.
2. Microsoft Dynamics NAV
Microsoft Dynamics NAV is also an ERP solution. It comes packed with business management capabilities, such as supply chain, finance, and manufacturing. However, this solution is designed to help run small and medium-sized companies.
Microsoft rebranded Dynamics NAV in order to integrate the app with cloud services so businesses could unify and manage other functions on the same platform. It is now known as Dynamics 365 Business Central.
3. Microsoft Dynamics GP
Microsoft Dynamics GP has great accounting and financial management capabilities. It can help small and mid-sized businesses become proactive by identifying opportunities and problems, thereby maximizing profitability.
But besides this feature, Microsoft Dynamics GP also helps with supply chain management, analytics, human resources, project management, etc. It’s a highly scalable tool that can provide extensive long-term value to your business.
4. Microsoft Dynamics CRM
Microsoft Dynamics CRM offers a holistic overview of relationships with customers and clients. Businesses can collect data from various touchpoints, such as emails and phone calls, to create profiles for each one.
More importantly, they can take sales, marketing, and customer service to the next level. With the help of this tool, businesses can monitor consumer preferences and shopping habits and analyze the information to refine their customer engagement strategies. This helps identify potential leads as well as maintain strong relationships with current customers.
Since the launch of Microsoft Dynamics 365, the Microsoft Dynamics CRM version has been rebranded into separate customizable modules: Dynamics 365 Sales and Dynamics 365 Customer Service. Upgrading to the newer Dynamics CRM versions can enable you to make more informed decisions about customer relationships and manage the business better.
5. Microsoft Dynamics 365
Microsoft Dynamics 365 is a complete suite of cloud-based apps released in 2016. Businesses now have the technology to conduct all their operations remotely without the need to develop an on-site infrastructure.
Microsoft Dynamics 365 combines both ERP and CRM functionalities to empower businesses to run operations more efficiently. It integrates seamlessly with other Microsoft applications and tools, and the unified capabilities allow data to be shared in real time across various departments. This enables companies to engage better with their customers, streamline workflows, and make smarter data-based decisions.
In addition to this, Microsoft also offers organizations the flexibility to select and customize the apps they need. This helps businesses scale for growth as well as reduce costs since they only have to pay for the features they need. Some Dynamics 365 versions are:
Dynamics 365 Customer Insights
This app accumulates all the customer data in one location. Businesses can now use this information to create richer profiles, identify behavioral trends, discover customer segments, and derive smarter, actionable insights. Plus, it helps improve engagement, personalize interactions, maximize performance, and boost customer retention rates.
Dynamics 365 Customer Service
This app supports omnichannel customer interactions, so you can provide all the information and services they need. That means you can connect with your customers in real time however they wish to communicate (text messaging, email, social media networks, etc.). Moreover, you can improve customer engagement and transform their experiences with your business, converting them into loyal customers.
Dynamics 365 Field Service
The app allows companies to deliver better services to their customers, wherever they may be. It offers scheduling resources, workflow automation, and customer communications tools, among other features, to ensure employees can resolve customer issues at their locations, improve customer experiences, enhance employee productivity, optimize company resources, and minimize costs.
Dynamics 365 Finance
This app provides you with essential data at your fingertips, so you have a comprehensive view of the business’s financial health. You can also unify and automate financial processes to boost productivity. It allows you to monitor performance in real-time so that you can make decisions that drive efficiency and growth.
Dynamics 365 Marketing
This app allows you to engage with your customers in real time. More importantly, it enables you to personalize the customer journey to develop meaningful, lasting relationships. You can maximize customer engagement by monitoring their preferences and previous activities.
Dynamics 365 Sales
This app enables business owners to gain enhanced visibility of the entire sales cycle. Your sales team now has access to in-depth insights about customer interactions to improve sales performance. They can engage better, target prospective customers, build stronger relationships, sell smarter, create innovative sales solutions to grow sales, and much more.
Over to You
Microsoft offers a comprehensive business management solution. Users have access to intelligent business applications that help organize, automate, and optimize processes. The versions of Microsoft Dynamics can be integrated to improve efficiency, productivity, and profitability. Organizations across the world are turning to the Microsoft Dynamics suite to run their businesses.
If you need assistance in choosing the right version for your business, we can help. At Maison Consulting & Solutions, we have experts who can help you identify the tools that can help leverage growth. Moreover, we can help deploy the platform on premises, in the cloud, or as a hybrid solution.
We can help you find the module that is perfect for your business. So contact us today and instantly get the autonomy to enhance the efficiency of your business.