Dynamics GP is an enterprise resource planning tool developed by Microsoft. It is best suited to small to medium sized businesses who want greater control over their finances and operations. It allows businesses to improve visibility around core processes and assess how they are currently working. Data analysis provides insights which can help companies to trends and react to market changes faster.
The core functionality of Dynamics GP allows businesses to improve information storage and access across an organization. Having a centralized place to store all operational data can help a business to gain a more complete picture of business health. This can help improve forecasting, analysis and budgeting. The platform is designed to be scalable and is flexible when it comes to increasing demands, particularly from a pricing perspective.
Dynamics GP licensing
There are two main licensing options for Dynamics GP. Both options come with built-in functionality to allow your business to get up and running quickly. Subscriptions are also flexible in that different users can have different levels of access (at varying price points).
Perpetual licensing — License up front (e.g. 1 year) and access to that functionality is secured by licensing users. A yearly maintenance renewal is available.
Subscription licensing — This allows businesses to pay monthly and get started with a low initial cost. New users can be added whenever they are needed by adding extra licenses.
Dynamics GP end of life
Microsoft has now announced the end of support for Microsoft Dynamics GP 2015, one of the older Dynamics GP versions. This means that security updates and bug fixes will cease after April 14th, 2020. To ensure your organization is prepared, consider transitioning to a newer version of the product such as Dynamics GP 2019 as soon as possible.
Dynamics GP cloud
Your business can run Dynamics GP Azure (in the cloud). Users can pay a monthly subscription fee to access the software.
Dynamics GP is sold through Dynamics partners. These are Microsoft service providers who are considered experts in these technologies. You can find selected Dynamics experts who can help your business implement, customize or transition your solution, depending on your needs.
Dynamics GP features
- Financial management and accounting
- Inventory management and operations
- Sales and service
- Human resources and payroll
- Business intelligence and reporting
Integration with other Microsoft tools
Dynamics GP is a Microsoft tool which means it can integrate out-of-the-box with a range of other popular tools including Microsoft Office 365 and Power BI.
Dynamics AX vs GP vs Nav
Dynamics AX is developed for larger companies. It competes regularly with solutions such as SAP and Oracle – implementations generally take longer. For SMBs, Dynamics GP or Dynamics 365 are the most suitable options – soon Dynamics Nav will be unavailable since Dynamics 365 if the newest version. These solutions overlap in terms of functionality with small differences that cater for specific use-cases.
How to use Dynamics 365 GP
Plan – Schedule finances, create budgets and plan spending ahead of time.
Report – Create custom reports to understand your business from different perspectives.
Optimize – Fine-tune operational processes and drive performance gains.