Microsoft Dynamics 365 is a platform for enterprise resource and customer relationship management. With the advent of time, these two things have become important factors for the success of a business. While resource planning focuses on optimum usage of resources, customer relationship management helps businesses maintain a good relationship with the existing customers. Asking the existing buyers to purchase new products is more convenient for a business than finding new buyers for the products.
Microsoft Dynamics 365 platform helps a business to maintain a healthy retention rate through various CRM (Customer Relationship Management) activities. Businesses can use the platform to store valuable customer information and track customer activities, queries, and purchases to sell them more products. Overall, the platform brings your business and customers on the same page. Therefore, the decision-making process becomes easier and more accurate.
An Introduction to Microsoft Dynamics 365
Dynamic 365 has two editions: Enterprise and Business. The Business edition features many financial applications. Small and medium businesses will find this tool ideal for their organizations. The Enterprise version comes with dynamic Microsoft Power apps and CRM applications. This version is suitable for large-scale businesses.
A few years ago, Microsoft repackaged the Dynamics 365 platform, and the CRM applications are now known as Customer Engagement Plan. Dynamics 365 is a cloud-based platform, which is accessible through web browsers. Users do not need to install the application on their local devices. They need to login into their accounts and view the dashboard to find crucial customer information, data trends, charts, graphs, and many more.
Why Does a Business Need Microsoft Dynamics 365?
Various studies indicate that switching between different applications and documents leads to various mistakes for enterprises. Such mistakes are costly, as they have an impact on the decision-making process. Due to the errors in preparing the reports, business owners may make erroneous decisions, eventually leading to a significant financial loss.
If your business encounters the problems discussed above, it needs professional and experience powerful ERP solution providers. Microsoft Dynamics 365 comes with a robust platform that improves customer relationships through a set of productivity tools. Dynamics 365 acts as a unified platform that combines marketing, sales, and customer service applications.
The Benefits of Using Microsoft Dynamics 365
Microsoft Dynamics 365 has separate versions to aid small and large enterprises. Using this cloud-based platform is beneficial for your business for the following reasons.
- All Apps at One Place
The platform brings all business applications to one place. Thus, it is a unified platform to check sales and marketing data trends and make crucial decisions for the future of the business. The cloud-based platform is scalable. With the advent of time, more apps or tools may be required to monitor business trends and data. You can scale the storage to fit your requirements.
- Understand Your Customers
A business may get many queries regarding the products or services, but the queries do not convert into sales. In many cases, businesses have to deal with a poor retention rate. What causes the poor retention of the customers? You will find the answer through analyzing data and reports on the Microsoft Dynamics 365 CRM tools.
Additionally, CRM tools help your business to maintain customer profiles and databases. A flawless customer database helps an enterprise sell newly launched products and services in a more efficient manner. Many small enterprises fail to understand customer sentiment, and Microsoft Dynamics 365 helps businesses understand buyers’ sentiments through data, graphs, and analytics.
Using the Dynamics 365 applications is convenient due to the platform’s flexibility. The tool has an affordable subscription model for both small and large enterprises. Nevertheless, users can scale the storage according to their requirements. If you do not require a high amount of space, you do not need to pay for it.
- Cost-effective Business Management
Both large and small enterprises struggle to make the optimum use of the resources. Due to poor use of resources, businesses have to struggle with inflation. Nevertheless, poor use of resources reduces productivity and product quality. Microsoft Dynamics 365 comes with a set of robust resource planning tools that aid businesses in adopting better resource planning strategies. Thus, the operational cost of the businesses is reduced.
So, these are the benefits of using Microsoft Dynamic 365. The tool intends to create robust communication between buyers and sellers. Knowing the buyers better helps a business to adopt better selling strategies.