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Posted 15th September 2024
The 2024 Wave 2 update for Microsoft Dynamics 365 Business Central brings a host of powerful new features designed to boost productivity, scalability, and user experience, paving the way for a more efficient and successful future.
Among the more notable features is the introduction of sophisticated AI-driven tools, enhanced reporting capabilities, and global expansion tools that can help businesses of all sizes make sense of increasingly digitised and complex market environments.
For organisations already leveraging Business Central, the Wave 2 update represents an opportunity to streamline operations further, improve governance, and reach new markets and audiences.
In this blog, we spotlight five of the new features that we believe have the potential to be particularly transformational.
The new AI-enabled Copilot assistant simplifies complex tasks, enhances decision-making, and improves overall productivity by leveraging the power of machine learning algorithms. These algorithms directly provide real time, context-specific insights within the Business Central environment, meaning the time spent on manual data analysis and decision-making processes can be heavily reduced.
For example, Copilot can:
By automating routine tasks such as invoice creation, order processing, and customer follow-ups, Copilot also allows you to focus on strategic initiatives that drive growth. This advanced automation cuts the margin for error, freeing up valuable time for your employees and leading to more efficient operations.
A key benefit of Wave 2 AI is the extraordinary potential it offers businesses looking to harness the power of data and advanced analytics without overwhelming teams. As the AI that drives Copilot is embedded directly into daily workflows, users are empowered to make smarter, data-driven decisions faster, ultimately leading to improved business outcomes that forge a real competitive edge.
The Wave 2 update elevates the reporting functionalities within Dynamics 365 Business Central, providing users with tools to gain deeper insights and conduct real-time data analysis. Both are essential for informed and timely decision-making.
Two of the key enhancements are:
These two features allow users to create reports tailored to their unique business needs, whether tracking intricate financial performance metrics, monitoring the supply chain, or assessing customer behaviour.
They are enhancements that go beyond mere aesthetics or convenience; they transform how businesses interact with their data. The update ensures that reports are more accurate, relevant, and actionable, facilitating better strategic planning and operational efficiency.
Armed with the ability to drill down into specific data points, you can uncover trends and anomalies that might have been overlooked with standard reporting tools. Such granularity turns data from a passive resource into an active growth driver, enabling faster reactions to emerging trends or potential issues.
It means you can track your current performance more effectively and forecast future developments more confidently.
Wave 2 introduces robust global expansion features that cater to businesses looking to expand their reach across borders. Features such as advanced multi-currency management tools allow transactions to be handled in different currencies, ensuring accurate conversion rates and simplified financial reporting.
The update also addresses the complexity of operating in multiple jurisdictions by offering localised compliance features which automatically adjust for region-specific regulations, tax laws, and financial reporting standards.
For companies operating internationally, these features are a game-changer.
Automating region-specific tasks means:
Through these tools, Wave 2 empowers you to scale your operations internationally, knowing that your financial and regulatory needs are managed by the platform. Besides saving valuable time and resources, this streamlined approach means you can focus on growth and expansion without being bogged down by manual administrative undertakings.
The Wave 2 update offers a suite of new tools designed to help you maintain strong governance and compliance practices with greater ease and precision.
For example, automated compliance tracking systems continuously monitor regulatory requirements and ensure that business operations remain within legal boundaries. This feature is particularly valuable in reducing manual effort and the potential for human error associated with compliance management.
Elsewhere, advanced audit trails provide comprehensive records of all transactions and changes within the system. This facilitates easier regulatory reporting and enhancing internal transparency so you can identify and address any discrepancies.
The inclusion of configurable approval workflows further strengthens governance by enabling you to set up multi-level approval processes tailored to your specific needs. These processes ensure that all critical decisions are vetted appropriately, reducing the risk of unauthorised actions and improving overall accountability.
For businesses looking to bolster their governance frameworks, these improved governance and compliance tools ensure regulatory alignment while helping to promote a culture of transparency and responsibility.
By automating and streamlining compliance processes, you can:
The Wave 2 update focuses on user experience, providing an updated Business Central interface that is more intuitive and user-friendly. This streamlined design simplifies navigation, ensuring that you can easily find and access the tools you need, regardless of the device you’re using, and feel at ease while doing so.
Moreover, the update includes new personalisation options that enable the interface to be tailored to specific roles and preferences. For example, users can customise their dashboards to highlight the data and functions most relevant to their daily tasks, enhancing productivity and reducing time spent on unnecessary navigation.
Aside from improving individual user satisfaction, this level of customisation aligns the user interface more closely with the unique workflows of different departments. By putting control in the hands of the users, Wave 2 ensures that the platform adapts to your business’s needs rather than forcing you to adapt to the platform.
From the AI integration with Copilot, which streamlines decision-making and automates routine tasks, to advanced reporting capabilities that offer granular insights, the Wave 2 update introduces a comprehensive set of features designed to enhance efficiency and drive business success.
With new global expansion features, improved governance and compliance tools, and user interface enhancements, you can operate more effectively and confidently.
BCN is your partner for optimising the transition and update to Dynamics 365 Business Central 2024 Wave 2.
With years of experience in delivering tailored Business Central solutions, we will ensure that your business fully leverages the new features and enhancements of Wave 2. Our UK-based teams specialise in integrating advanced technologies into your existing systems, making your digital transformation seamless and effective.
If you’re ready to harness the full potential of Wave 2, speak to us today to find out how we can support your journey.
