Microsoft has this week rolled out new enhanced features to its Dynamics 365 ERP solutions, aiming to fundamentally change the way businesses handle project management, finance, and supply chain tasks. The newly updated capabilities reflect Dynamics 365 Copilot’s mission of empowering business users through the integration of CRM and ERP to spur innovation and improve outcomes in every business sector.
The corporate world is increasingly relying on AI to optimize processes from planning to forecasting. Now, the spotlight is on generative AI, a groundbreaking technology that’s set to revolutionize work methodologies by inspiring innovation throughout ERP. This can range from simplifying operations to hastening the generation of actionable insights.
Dynamics 365 Copilot
First announced in March, the Dynamics 365 Copilot takes advantage of cutting-edge developments in generative AI to automate mundane tasks and unleash the full potential of the workforce. We’ve previously illustrated how generative AI can be applied to critical supply chain processes. Now, we’re thrilled to introduce more AI-assisted features across our ERP portfolio, included in Microsoft Dynamics 365 Finance, Dynamics 365 Project Operations, and Dynamics 365 Supply Chain Management. To enable these fresh Copilot features within your Dynamics 365 products, you’ll need to collaborate with your IT admin.
Using Copilot to simplify project management
With Copilot, project managers can swiftly generate new project plans for fresh engagements in mere minutes instead of hours. How? Simply by outlining project specifics using natural language. Copilot then produces a project plan that can be further tweaked by the project manager.
If you’re a project manager constantly battling to complete projects on schedule and within budget, you’ll be pleased to know that we’re rolling out Copilot features for Dynamics 365 Project Operations. These significantly cut down time spent on project status reports, task planning, and risk assessments. With the added benefit of familiar tools like Microsoft Power BI and Excel integrated with Copilot capabilities, you can:
- Use natural language to bring data to life. By simply explaining the visuals and insights you want, Copilot can craft a Microsoft Power BI dashboard or report—complete with visualizations and summaries—and assist in refining it. Want to delve deeper into the data? Ask questions and let Copilot fetch the correct answers.
- Collaboratively align plans, budgets, and forecasts with business strategy.
- Streamline sales and operations planning.
- Automate financial consolidation for seamless book closing.
- Strategically close talent gaps for a more empowered workforce, gain a comprehensive perspective of cash flow dynamics, and access highly precise predictions through advanced predictive analytics powered by machine learning and AI.
Project status reports and more with Copilot
Once the project is in progress, the project manager can use Copilot to create a project status report, which Copilot will help generate in a matter of moments—significantly reducing the hours often spent manually researching and writing. For ensuring project success, Copilot can be utilized to identify risks and propose mitigation strategies continuously. For instance, the project manager can instruct Copilot to search across all open projects to spot common project risks that could destabilize a project, such as substantial delays or budget overruns.
In conclusion, the recently announced enhancements to Dynamics 365 Copilot aim to bring about a significant transformation in how businesses handle project management, finance, and supply chain operations by capitalizing on the power of AI.
Source: Microsoft
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