There’s no shortage of available options in the market when it comes to business software. It can be hard to decide between different software platforms. While Dynamics 365 is a top choice for many companies, it comes down to your organization’s needs and how well the solution fits your business culture.
With so much work done online, you may be more inclined to go with a cloud solution versus an on-premises version that requires additional servers and hardware investments. Let’s look at what you should consider when trying to decide between Microsoft Dynamics 365 vs. NetSuite or other business software.
What Does Dynamics 365 Have to Offer?
Small and mid-sized companies benefit from the practical functionality offered by Dynamics 365. You get the benefits of an ERP and customer resource management (CRM) in one platform. It’s flexible enough to accommodate the business needs of any industry. For example, a healthcare company can use it to gain visibility over purchase commits and inventory, while a manufacturing business can leverage it to streamline supply chain processes.
Another great feature of Dynamics 365 is providing valuable business insights and reporting. The centralized storage lets analysts review metrics across an organization and determine the performance of various business areas. The real-time insights available through Dynamics 365 help organizations figure out ways to optimize workflows and increase revenue.
Functionality available through Dynamics 365 includes:
- Sales
- Finance
- Supply Chain
- Project Management
- Accounting
- Reporting
You can deploy your Dynamics 365 instance on-premises, in the cloud, or as a hybrid solution. It pays to form a partnership with a company like Internet eBusiness Solutions (IES), which understands the product and the intricacies of adapting the platform to fit different industries.
Microsoft Dynamics 365 vs. Sap S/4HANA
SAP S/4HANA is a leading enterprise application suite offering core functionality in business areas like finance, supply chain, and asset management. The platform includes machine learning (ML) capabilities that help it learn to automate processes like invoice handling. Organizations also have access to predictive accounting functionality and other artificial intelligence (AI) enhancements to make business workflows more seamless.
Microsoft Dynamics 365 lets you add modules that encompass similar capabilities. It also comes with AI and ML functionality that help with automating manual business tasks that often slow down employees. Like Sap S/4HANA, Microsoft Dynamics functions as a single source of truth for information piped in from different business areas.
Manufacturing and distribution companies have a lot to like in both applications. The adaptability of modules like Business Central and the ability to expand to premium services may make Dynamics 365 more appealing. In addition, Business Central comes with built-in customer relationship management (CRM) and warehouse management software. Organizations can run processes effectively without having to upgrade.
Microsoft Dynamics 365 vs. NetSuite
NetSuite continues to be one of the most popular enterprise resource management (ERM, also called enterprise resource planning, or ERP) platforms in the market. It’s capable of handling most needs of small and mid-sized businesses (SMBs). You can integrate NetSuite with other third-party functionality to expand accounting and tax functionality. There are over 30 individual modules you can add to your NetSuite installation.
Certain capabilities you would have to pay extra for with NetSuite come standard with Dynamics 365, including a CRM. Another advantage you get with Dynamics 365 is that it works seamlessly with other Microsoft products. You can also integrate popular business applications like HubSpot and Salesforce. The money you save may be a reason to go with Microsoft Dynamics 365 vs. NetSuite.
Microsoft Dynamics 365 vs. QuickBooks
Many businesses use QuickBooks accounting software for income and expense tracking. It’s also helpful in helping small companies deal with payroll and keep up with project costs. It’s available as a desktop solution or a software-as-a-service (SaaS) product. You can take out a monthly QuickBooks subscription or pay for a year at once.
One drawback to QuickBooks is that it doesn’t provide much beyond accounting functions. Dynamics 365 provides you with a full-scale ERP solution with CRM capabilities. That means organizations can handle business processes and workflows while improving customer communications.
Additional functionality provided by Dynamics 365 that you don’t get with QuickBooks includes:
- Accurate budgeting and forecasting
- Process automation
- Predictive insights
Companies may be able to get by with QuickBooks for a while. A big reason that many organizations often choose to go with Dynamics 365 vs. QuickBooks is the ability of the former to scale with business growth.
How Do I Know Which Solution Works Best?
Start by thinking about what you need for your company. Are you looking only for an ERP or accounting software? Would you prefer an all-in-one solution that covers all your organizational needs? You should also meet with stakeholders from various departments to get a sense of where they would like to see improvements in business processes. That way, you can choose a product capable of meeting the needs of those most in need of improvements.
You also must think about what it would take to maintain the solution. If you are a small business with a limited or non-existent IT shop, you would likely do better with a SaaS solution like Dynamics 365. It receives automatic updates, meaning your organization wouldn’t be responsible for maintaining the solution. Microsoft deals with issues around data, so you get to focus on running your company.
Other questions you should consider when comparing solutions like Dynamics 365 vs. NetSuite or Sap S/4HANA include:
- Whether you need robust accounting functions
- If you need help with manufacturing or supply chain issues
- Are looking to integrate with other third-party software
- Will require customizations to make the solution fit your company environment
- How quickly your business needs to get your implementation up and running
- Whether the solution is flexible enough to accommodate future business needs
As you can see, there’s a lot to consider when choosing an ERP product for your company. IES can help you decide which product fits the goals of your organization. Learn more about how we can help you pick the right software products for your company by speaking with one of our technology specialists.
