July 12, 2024
Summary: This article throws light on the Microsoft 2024 Release Wave 1 with Dynamics 365 and Power Platform. For the most part, this release is going to help thriving businesses take a competitive lead and drive success like never before.
Microsoft Dynamics 2024 Release Wave 1 Plans
Notably, Microsoft releases the new plans for 2024 release wave 1, which focus on Microsoft Dynamics 365 and the Power Platform. Of course, a large focus from Microsoft is incorporating Copilot to every area of the Dynamics 365 applications and Power Platform.
For the most part, the AI Companion or AI tool is tremendously focused. Needless to say, it would help every individual around the globe to achieve more productivity and efficiency. However, business organizations should only use those that will drive an impact on their business and not all AI and Copilot support added. Undeniably, many businesses have promoted their efforts by introducing Copilot features to their core operations and happily witnessing the seamless and flawless automation.
Dynamics 365 Finance
Given these points, you might have heard about the Business Performance Analytics offerings. In addition, there are multiple features planned to deliver generally and some as a preview within Microsoft Dynamics 365 for Finance. Most importantly, some features include assistance from Copilot as well.
In such a case, generative AI enables users to use their natural language to perform certain tasks. Next, it readily helps a business organization ensure data security by providing options for restricted lists of dimension values per users.
In the core of the Finance module of Microsoft Dynamics 365, the newly added features will enhance the maturity of the product. For instance, with the deployment of bank lifecycle management, businesses can now, drive support for the workflow, manage the activation, changes, and deactivation. In addition, more features will be enabled to use a specific exchange rate type, where specific postings can use.
For example, a monthly closing rate instead of a daily exchange rate.
Add-ons in Dynamics 365 Finance
Moreover, Microsoft is continuing to ascertain that the database will be healthy and responding with growth performance by adding archival functionalities for posted GL and Tax transactions. Here, you can use the new Financial Tags feature to more journals and accounting distributions.
For those companies, who are now using bank accounts for petty cash, they can drive substantial efficiency and productivity with dedicated Petty cash functionality available for all countries and regions.
Furthermore, considering the globalization options, Microsoft is going to merge the Regulatory Configuration Service into the core of MS Dynamics 365 Finance. Most importantly, experts believe that this is a smart move, where the external service was a black box in the case of ISV development. Needless to say, it would readily eliminate troubleshooting options and simplify the extensibility.
Dynamics 365 Supply Chain Management
At first, business organization will come across the two newly added features i.e. Copilot and AI. For the most part, Copilot renders extensive support for robust demand planning. Given these points, there will be support for making data-driven decisions on purchase order changes. Customers on the US data centers have already witnessed this as a preview in the US data centers of MS Dynamics 365.
Next, one of the features that would attract attention of leading and thriving businesses is about making reservations without specifying a site, location or warehouse. In addition, it will come up with a feature or option to synchronize external inventory changes using Inventory Visibility.
Finally, business administrators can avail of new support for approving purchase requisitions and purchase orders from a mobile device. For the most part, this will function as a replacement for the current or existing mobile workspaces that were announced to be disapproved.
Cross App Capabilities
In particular, Microsoft is working to bring the Finance and Operations apps closer to the Power Platform. In the new plan, Microsoft announced extensive support for a-synchronous dual write support and a simplified option to utilize the Dynamics 365 Finance and Operations or Microsoft Dynamics 365 data as virtual entities in the Power Platform.
Why NavisionIndia?
At NavisionIndia, you can connect to an accredited, skilled, and trained Microsoft Dynamics 365 Consultants, Power Platform Experts, and Certified Developers to get A Solution Just Made For Your Business. For the most part, these subject-matter experts or consultants can help you drive growth and success by helping you capitalize on the emerging technology enhancements and evolving business landscape.
For more details, write to us at info@navisionindia.in Or Schedule A Demo