Benefits of D365 for Project Operations
With Dynamics 365 Project Operations enabling users to deliver profitable projects on time and within budget whilst building strong customer relationships, it has become an enticing opportunity for many organisations.
Dynamics 365 Project Operations connects sales, resourcing, project management and finance teams in one application to win more deals, accelerate projects, optimise delivery and maximise profitability. Below we explore four key benefits of D365 Project Operations and why you should consider implementing it within your organisation.
Built-in tools in Dynamics 365 for Project Operations, help users to produce accurate cost, effort and revenue figures. These figures then help managers to design achievable, efficient projects. Through ensuring that project deliverables meet the terms of the contract, organisations will earn customers trust. Also with embedded easy to use management functionality such as Kanban boards and Gantt charts, this makes managing resources easier than ever. Managers will be able to review and monitor all costs and timings with these intuitive boards and charts to ensure that projects are delivered successfully and in a timely manner.
D365 Project Operations helps deliver outstanding deal management experiences such as allowing you to manage contracts, provide accurate project quotes and improve forecasting and estimations to quickly convert an opportunity to the next stage. This gives your organisation a better chance of winning deals.
One way the system can help is through offering customisable resource based costing and pricing. This pricing can be modelled based on geography and local market economics. The system also enables the user to use adaptable billing models to meet the customers requirement in terms of the type of contract they are looking for. It also provides you with standardised templates that you can use to quickly create detailed estimates, schedules and monetary values for the quotes. Furthermore, with your customer data centralised in a single location, you can easily personalise customer engagement and interactions.
D365 Project Operations allows you to manage project financials accurately to ensure compliance with financial reporting standards and also ensures that your project remains profitable. In terms of profit forecasting, the unified sales management dashboard brings together product and project based opportunities and from here this data allows the user to highlight at risk deals and identify the predicted profitability of deals, calculated using cost, effort and revenue figures.
Another feature that can improve your financial reporting includes revenue recognition that is compliant with International Financial Reporting Standards. This can help your team to adhere to accounting standards. Other key features include a user-friendly interface that can accelerate your customer invoicing process and also the D365 Finance integration which gives users access to accounts payable, accounts receivable and general ledger functionalities.
Another benefit of Dynamics 365 Project Operations is that members from different teams can collaborate across the project lifecycle. This can be achieved with the Microsoft Teams integration which gives greater visibility and communication as team members can submit time and expenses from anywhere and from any device. Such team collaboration greatly enhances the flow of information which is critical to project success. Power BI can also be integrated with D365 Project Operations and this can be used to create dynamic and powerful dashboards, which can display KPI’s for cost, duration and other critical information to management and stakeholders. Finally with the dedicated Dynamics 365 mobile application, users can submit, approve and reconcile both time and expenses from anywhere, ensuring that project resources are never late.
To learn more about the power of D365 for Project Operations and how it can benefit your organisation, contact us today.