A Guide to Dynamics 365 Project Operations

Dynamics 365 Project Operations is a relatively new player in the world of 365. It represents an advancement in previous project management and accounting capabilities offered in Dynamics 365 Finance and Microsoft’s Project Service Automation platform. Dynamics 365 for Operations addresses the gaps felt by many project-focused companies. Those who work in industries like energy and professional services will find that the updated platform covers many critical factors necessary to help them manage their projects and other essential business functions.

How Dynamics 365 Helps Project-Based Companies

Released in December 2020, Microsoft Dynamics 365 Project Operations provides organizations with an all-in-one project management and business process solution. Companies can use the platform to manage resources, handle accounting functions, and produce accurate reports.

Dynamics 365 for Operations creates a centralized platform where companies can gain more transparency into what’s happening with projects and business workflows. The platform integrates with other Dynamics 365 applications, meaning you can modify operations as needed to create the optimal business and project management platform. You can expand Microsoft Dynamics 365 Operations to handle functions associated with:

Marketing
Customer Service
Human Resources
Operations

Top Features of Dynamics 365 Project Operations

Dynamics 365 for Operations accelerates project delivery through the interconnected modules within the platform. The goal is to help companies thrive in a constantly changing digital landscape. Thanks to Microsoft Dynamics 365 Project Operations, organizations can position themselves to adapt to any changes in the business environment.
Let’s look at some of the features provided by Dynamics 365 Project Operations that facilitate a higher rate of project success.

Project Management

Use the embedded Gantt charts, scheduling tools, and dashboards to track what’s happening at every project stage. The added transparency makes it easier to spot when there may be issues that could impact project deliverables. You can connect the platform directly to Microsoft Project to improve the end-to-end project planning process. Teams can coordinate by sharing documentation, data, and applications throughout a project’s lifespan.

Deal Management

Give the deal management experience a boost by improving your team’s ability to close deals. You can customize resources based on geographical costs to ensure you’re offering the most competitive prices for a region. It’s also possible to adapt billing models that meet your customer’s requirements. Microsoft Dynamics 365 Project Operations provides templates that make it easier for your team to draw up estimates.

Accounting

Tap into your financial data from all business areas to improve business efficiency and company performance. The user-friendly interface makes updating invoice details quick and easy. Your finance team can set up accounting rules to retrieve project costs and revenue profiles for fixed prices and time and materials.

Businesses can invoice clients more quickly to improve cash flows. You can expand Dynamics 365 Project Operations to become a more service-centered enterprise resource planning (ERP) system. Companies can ensure they adhere to all required accounting practices, including ensuring they comply with International Financial Reporting Standards (IFRS).

Resource Utilization

Microsoft Dynamics 365 Project Operations gives you visibility into all available company resources. You can ensure that you have what you need for timely project delivery. The platform lets you look at employees and evaluate their skills, current company role, and availability. Understanding what’s available makes it easier to align your resources to improve the quality of a delivered project.

Time Tracking and Expense Management

Professional organizations can use Dynamics 365 for Operations to overcome the difficulties of tracking time and expenses. Companies can ensure they don’t forget essential items like recording billable hours. The platform makes it possible to use a browser or mobile app to submit time and expenses. Managers can also set up workflow automation with rules that ensure the accuracy of any reported data.

Project Dashboards

Business areas can set up custom dashboards containing visualizations of crucial insights. Having the information available in an easy-to-understand format helps drive more informed business decisions. You can make the information available throughout an organization to remove informational silos. Companies can track KPIs to determine whether changes are needed to adapt to evolving business conditions.

Eyal Lalo

President of Invicta Watch Company of America

Invicta strives on quality and precision. We have been using Dynamics GP for quite some time and also integrated the eCommerce Manager by IES. IES has shown that it can provide the kind of services we need to grow with our dynamic business and assist us at any time with accuracy.

John Harris

Managing Director, Coral Gables Trust

At Coral Gables Trust we strive to provide our customers the best possible care and attention as a wealth and investment management trust company. It is important for us to have a proven CRM technology and an experienced trusted solution partner to implement and render ongoing quality support.

Dan Grossman

CPA

We have been using Great Plains for almost 15 years since the DOS version. Now we manage over 350 plus companies in GP. We tried a few local partners but I can attest that we could not have grown our business without the consultative approach of IES.

Benefits of Working With Dynamics 365 for Operations

Dynamics 365 Project Operations is ideal for companies looking to connect their current finance and operations capabilities with project and resource scheduling. It’s also beneficial to companies interested in moving on from other project management or sales platforms. Let’s look at what you can gain by adopting the Microsoft Dynamics 365 Project Operations solution within your organization.

Project Stability

Microsoft Dynamics 365 Project Operations helps companies set up a consistent process for executing projects. Predictability is key to assisting project managers in delivering by the expected deadlines, which builds on customer satisfaction and keeps them loyal. Companies can also integrate other Microsoft products like Power BI to enhance reporting and set up alerts around project issues, making it easier to intervene before things go off-track.