It’s no secret that AI (Artificial Intelligence) is a hot topic right now. It’s an exciting time in the evolution of technology, and there are plenty of stories about how AI alters the world. You’re probably already using it. But are you making the most of AI in Microsoft Dynamics 365 Business Central?

Read on to find out more.

From powerful machine learning models to breakthrough natural language technologies, new ways to use AI to improve our work emerge regularly. AI innovation can liberate employees from mundane and repetitive chores. It allows them to focus on the most critical work and improve their job satisfaction and productivity.

Individuals with access to automation and AI-powered solutions generally feel more fulfilled because they can devote more time to meaningful work.

Microsoft Dynamics 365 Business Central can empower small and medium-sized enterprises with AI-powered capabilities that help them work smarter, adapt faster, and perform better. Let’s look at some of the ways AI in Business Central is improving work processes, such as:

• Automating repetitive chores
• Improving customer service
• Anticipating business challenges
• Improving decision-making

Automate repetitive processes with Copilot in Business Central

With this technology innovation, all Microsoft Dynamics 365 business applications now feature Copilot, which introduces the next generation of AI-powered experiences across the Microsoft stack.

It uses natural language technology to deliver AI support in the workplace, automating monotonous chores and unlocking creativity. Dynamics 365 Copilot is the world’s first for CRM and ERP, ushering in a new era of productivity for organizations of all sizes.

Who Can Benefit from Using Copilot?

• Product managers: Use Copilot in Business Central to create exciting and engaging AI-generated product descriptions, saving time and increasing sales.
• Marketers and Content Creators: Eliminate writer’s block in seconds by creating unique, appealing marketing language using product attributes like color, material, and size.
• Executives and Managers: Customize your brand descriptions by selecting a tone of voice, structure, and copy length. Then, publish to Shopify or other e-commerce sites with a few clicks.

Copilot in Business Central enables the release of new products quickly and easily, allowing you to focus on building your business.

Improve customer service through sales and inventory forecasting

In today’s highly competitive business environment, good inventory management can be the difference between a successful organization and one that struggles to retain customers and stay profitable. Inventory management involves balancing customer service and cost management.

While less inventory requires less working capital, it can result in missed sales. The Sales and Inventory Forecast add-on uses artificial intelligence to anticipate future sales based on historical data, allowing you to minimize stockouts. Based on the forecast provided and your current inventory levels, the extension generates replenishment requests to your vendors, saving you time and improving inventory availability to satisfy your customers.

Anticipate business issues with Late Payment Predictions

Effective receivable management is crucial to a business’s overall financial health. The Late Payment Prediction add-on helps you identify payment issues and reduce outstanding receivables without digging through invoices to determine what remains unpaid.

That means you can improve your collection approach by predicting the timely payment of sales invoices. For example, if you anticipate a payment will be late, you may change the payment conditions or method for the consumer. Anticipating late fees and making modifications allows you to manage better and eventually minimize overdue receivables.

Improve decision-making with Cash Flow Analysis

Imagine the benefits of understanding your company’s financial future. Azure AI in Business Central can help you achieve that. It assists you in developing a complete cash flow projection, improving your decision-making, and allowing you to control your cash flow. Cash flow reflects a company’s financial soundness and ability to satisfy its financial obligations on schedule.

A forward-thinking planning tool is required to ensure your company’s financial stability. With AI insights, you may make proactive changes to safeguard your company’s financial health, such as cutting credit when you have a cash surplus or borrowing to cover a cash shortage.

Innovate with Business Central

In today’s fast-paced industry, AI has become a critical tool for businesses that plan to stay ahead of their competition. The AI technologies included in Business Central can help you improve the end-to-end client experience, cut costs, and increase financial performance.

Business Central can help you run your business more efficiently and prosper by automating monotonous operations, analyzing data, and providing targeted advice.

The Power of AI in Dynamics 365 Business Central

Copilot: get to know your new AI assistant

Microsoft Copilot for Microsoft 365 allows you to transform your words into one of the most effective productivity tools available.

External artificial intelligence engines or platforms

Data can be exported from Business Central, used by online services, or stored externally, such as in a data warehouse. From there, an AI model consumes the data to learn or deliver results, which are loaded back into Business Central. That also applies to Azure AI, which enables developers and data scientists to build, deploy, and manage AI applications at scale while using diverse AI capabilities.

External Applications

Microsoft Dynamics 365 Business Central may integrate with various Microsoft technologies, utilizing AI capabilities in applications such as Outlook, Office 365, Viva Sales, and others. AI improves Business Central’s operation by providing intelligent insights, automation, and better decision-making.

5 Advantages of Using AI in Dynamics 365 Business Central

1. Customer insights

AI can help companies better understand client behavior and preferences. Business Central enables you to evaluate your customer data and provides critical insights that help you customize offers and improve the customer experience.

2. Automate repeated processes

With Dynamics 365 Copilot, AI directly contributes to the flow of work by automating monotonous tasks and unleashing creativity. It is the world’s first for CRM and ERP, ushering in a new era of productivity for organizations of all sizes.

3. Automatic Data Entry

AI-powered solutions can assist with data entry by automatically extracting information from documents like invoices or receipts, helping to reduce human data entry and errors.

4. Improve Inventory Management

The Sales and Inventory Forecast add-on uses artificial intelligence to estimate future sales, allowing you to minimize stockouts. This plugin generates replenishment requests for your vendors based on your forecast and inventory levels, enabling you to save time while keeping your customers delighted.

5. Intelligent Search & Recommendations

AI algorithms improve search functionality in Business Central by making intelligent suggestions and recommendations based on user behavior and historical data.

Are You Making the Most of AI in Business Central?

Liberty Grove can help you use many tools and services to derive the most from your technology investment, improve your organization’s productivity, and increase your bottom line.

Contact Liberty Grove for a complimentary consultation on how you can use AI in Business Central to boost your competitive edge.

Related reading:

Business Central 2023 Wave 2 Update: What Matters?

Top 6 Advantages of Business Process Automation

About the author

Liberty Grove Software is an established Microsoft Partner that focuses on providing customers with sales, service, and support for Microsoft Dynamics 365 Business Central and Microsoft Dynamics NAV solutions and training and upgrades.

Liberty Grove Software helps manufacturing firms compete by automating tedious operations with Microsoft technologies. Our extensive manufacturing knowledge has established us as the preferred Microsoft partner for assisting mid-sized manufacturers in increasing production.

Over more than 25 years, Liberty Grove has assisted hundreds of customers with businesses ranging from small to mid-sized to Microsoft Partners in implementing, training, customization, and upgrading Microsoft Dynamics ERP solutions.

The organization is one of only a few companies worldwide that Microsoft recognizes as qualified to provide Business Central/NAV Upgrade Service Centers.

You already know how powerful Microsoft Business Central can be for optimizing your business processes. So, are you interested in how AI can be used within Business Central to take your business to new heights? Let us introduce your new business partner: Dynamics Copilot.

This blog will explore Microsoft Dynamics Copilot and highlight how businesses can use it for increased flexibility and efficiency.

A little history

• The concept of using computer power emerged in the 1940s-1950s (think about how computers were used to decode messages during WWII)
• 1960s – the first use of Materials Requirements Planning (MRP) – helping people to use computing power to assess inventory levels
• 1980s – Oliver Wight introduced MRP II to enrich supply chain planning processes
• 1990s – Enterprise Resource Planning (ERP) systems emerged
• 2010s – Mobile computing integrated into ERP and the addition of Public Cloud – Microsoft began investing in technology infrastructure and laid the foundation for the technical functionality we all enjoy today
• At its inception in 1984, Business Central had a different name and was a single-user entity
• Re-branded to Business Central, it was officially launched in 2018 – look how far it’s come!

How can you use Microsoft Dynamics 365 Business Central Copilot?

Microsoft Dynamics 365 Business Central is rapidly using AI, or artificial intelligence, in a number of its features to improve it and give users wise insights. The following are some significant applications of Copilot in Business Central:

• Development of Marketing Text: imagine the time savings when you can produce concise information that will explain your products’ features and benefits to prospective customers
• Cash Flow Projections: knowing when a customer will pay based on their payment terms gives you insight into monies you can expect to leverage when needed.
• Late Payment Predictions: even though they’re not ideal, knowing when payments might be delayed is vital to business planning.
• Data Analysis and Reporting: Business Central analyzes a lot of data using AI algorithms. Businesses can make wise judgments based on precise insights thanks to their assistance in identifying patterns, trends, and anomalies.
• Intelligent Forecasts: Predictive analytics driven by AI can evaluate historical data and forecast future events. AI algorithms in Business Central can estimate sales, inventory levels, cash flows, and other critical performance metrics, assisting in improved resource allocation and planning.
• Process Automation: AI can automate tedious and repetitive operations, giving people more time to concentrate on strategic duties. For instance, Business Central can employ AI to automate expenditure management, invoice processing, and other typical administrative processes, saving time and increasing productivity.
• Customer relationship management (CRM): Business Central uses AI to improve CRM features. It can evaluate customer data, interactions, and purchase history to make personalized recommendations, improve marketing campaigns, and increase customer happiness and retention.
• Natural Language Processing (NLP): Business Central uses NLP to support commands and inquiries in natural language. Users can communicate with the system using voice or text to ask questions, give directions, or seek information. Business Central can process and reply to these interactions utilizing AI-based language comprehension capabilities.
• Fraud detection: AI algorithms can examine Business Central transactional data to detect fraud. It can assist companies in preventing financial losses brought on by fraudulent transactions by identifying patterns and abnormalities.
• Supply Chain Optimization: Using historical and current data on inventory levels, demand, and supplier performance, AI may improve Business Central’s supply chain operations. It can help with supply chain planning, inventory optimization, and demand forecasting, increasing productivity and lowering costs.
• Intelligent Document Management: Business Central’s AI-powered document management tools can automatically extract pertinent data from receipts, purchase orders, and invoices. Data entry is made more straightforward, there are fewer mistakes, and document processing is quicker, thanks to automation.

Future areas of Microsoft Dynamics 365 Business Central Copilot’s capabilities include creating extended text, generating copy in multiple languages to facilitate international business endeavors, seasonal forecasting to assist production and sales teams, monitoring operational KPIs, and code creation.

It’s vital to remember that the specific AI capabilities offered by Business Central may change based on the software’s version, updates, and configuration. Microsoft is still investing in AI research and development, so additional AI capabilities and improvements will eventually be available.

Conclusion

Liberty Grove can help companies identify areas where a solution like Microsoft Dynamics 365 Business Central Copilot can make business administration a breeze, freeing time for more critical tasks and increasing profitability.

Contact Liberty Grove for a complimentary consultation on implementing Copilot into your ERP system for greater flexibility and functionality.

About the author

Liberty Grove Software is an established Microsoft Partner that focuses on providing customers with sales, service, and support for Microsoft Dynamics 365 Business Central/NAV solutions and training and upgrades.

Over more than 25 years, Liberty Grove has assisted hundreds of customers with businesses ranging from small to mid-sized to Microsoft Partners in implementing, training, customization, and upgrading Microsoft Dynamics ERP solutions. The organization is one of only a few companies worldwide that Microsoft recognizes as qualified to provide Business Central/NAV Upgrade Service Centers.