2024 Release Wave 1 Highlights: Dynamics 365 Finance and Supply Chain Management

Enable Business Agility to Differentiate Your Products and Services

Many companies deploy Microsoft Dynamics 365 Finance and Dynamics 365 Supply Chain Management together to create a comprehensive ERP platform. The two solutions will introduce a wide range of combined enhancements as part of Microsoft’s 2024 Release Wave 1.

Dynamics 365 Finance updates focus on AI-powered guidance for business performance planning and setting up financial dimension defaulting. Users will also find new functions to increase automation in bank reconciliation, netting, and taxes as well as expanding country coverage.

For Dynamics 365 Supply Chain Management, the release wave focuses on optimizing and enhancing business processes. This will provide companies with more agility and insights to navigate complex business environments.

Here’s a quick rundown of what to look for in these two solutions between April and September.

Dynamics 365 Finance

Enhanced capabilities bring together analytics, planning, and insights as an extensible solution on a single platform to continuously plan, act, and analyze financial and operational data:

• Embedded Copilot AI assistance helps resolve financial tasks with fewer steps by guiding users on the best actions to take and providing more data to ensure the right decisions.
• Enhanced end-to-end business processes, increased automation, reporting, and analytics will reduce your financial period closing times.
• Customers who operate globally can use the Microsoft Globalization Studio to more easily meet multiple local tax compliance requirements. Microsoft is adding expandable out-of-the-box localizations and continuous regulatory compliance updates for multiple countries around the globe.

With no-code/low-code capabilities, it will also be easier to automate complex tax scenarios. Globalization Studio addresses regulatory tax digitization trends and legislation changes in multiple countries as Microsoft continuously monitors legislation and provides regulatory updates and government deadlines across covered countries.

Dynamics 365 Supply Chain Management

With generative AI-based contextual help from Copilot, users are empowered to rapidly unlock the full potential of Dynamics 365 Supply Chain Management:

Calculate capable-to-promise capacity for sales orders without waiting for the next full master planning run to complete.

Improve supply planning collaboration by enabling planners and sellers to work on the same master plan at the same time.

Provide warehouse staff with a mobile app to process inspections of goods returned by customers, blind receipts, put-away of inventory for resale or scrapped for disposal, carrier return labels, and return orders.

Allow external systems to easily query future inventory availability for up to 180 days, with available to promise views of inventory.

• Aggregate and synchronize external inventory changes as adjustment journals.
• Query, post, and reserve inventory without specifying the site or the warehouse.
• Manage sales and fulfillment processes more efficiently by ensuring inventory availability matches desired service levels.
• Gain near real-time insights into requirement changes with intelligent demand planning powered by forecasting algorithms and models.
• Manage product information and product variants centrally throughout their lifecycle, including attributes, configurations, documentation, and identifiers.
• Automate key warehouse processes—including counting, customer returns, product receipts, and re-waving of orders.

Dynamics 365 Supply Chain will also feature embedded Copilot AI capabilities for users—including context awareness, forecasting, actionable guidance, data inquiry, report generation, and next-action recommendations.

Key Dates for the 2024 Release Wave 1

Autonomous Finance and Warehouse Management

Business agility is critical for organizations to differentiate products and services from the competition and to manage rapidly changing economic conditions. Dynamics 365 Finance helps take on these challenges with an autonomous finance system of intelligence, automation, and recommendations that help your financial professionals make critical decisions. In the warehouse, Dynamics 365 Supply Chain Management provides end-to-end processes that manufacturers, distributors, consumer product groups, and retailers require to meet their supply chain needs

To help you navigate all the 2024 Release Wave 1 enhancements of these two ERP solutions, Velosio is here to help. We are among the largest and most recognized Dynamics partners, with thousands of active customers. Many years as a recognized leader in ERP, CRM, cloud productivity, and business intelligence solutions have repeatedly landed us in the top 1% of Microsoft Dynamics Partners worldwide.

We will be glad to advise you on when each ERP enhancement will be available, which enhancements make sense for your environment, and how to sync them with the functions you already rely on. Contact us today to learn more.