The world of finance is evolving at breakneck speed, and Microsoft 2024 Release Wave 1 for Dynamics 365 Finance is here to equip you with the tools you need to stay ahead of the curve. This update packs a punch with innovative features designed to streamline processes, boost efficiency, and empower smarter financial decisions. 

Get ready to explore the top updates and enhancements: 

1. Expedite outputs with collections coordinator summary 

General availability Apr 2024 

Efficiency in collections management is paramount, especially when dealing with diverse customer records. In Dynamics 365 Finance, accessing critical information such as credit ratings, payment history, and communication logs typically demanded 15-30 minutes of valuable time earlier. 

But with this update comes an innovative Copilot-powered workspace in D365 Finance that revolutionises this process by consolidating essential customer data into a single, easily navigable interface. With Copilot, collections agents can enjoy expedited access to vital customer insights, empowering them to craft personalised, AI-enhanced communications swiftly.  

This not only streamlines collections efforts but also fosters healthier cash flow and strengthens customer relations. What’s more, the AI-driven summary feature intelligently distils pertinent information, while the new timeline view provides comprehensive details, facilitating informed decision-making and optimising account.

faster outputs collections coordinator summary

2. Generative AI for administrative tasks, information retrieval, and report generation 

General availability Jul 2024 

Tired of drowning in administrative tasks and battling with complex reports in Dynamics 365 Finance? Traditional methods are manual that eat up time, breed errors, and drain resources. But this new update brings generative AI to rescue you from the chaos of tedious admin work and inconsistent reports.

You can use conversational language to complete mundane tasks like generating, organising, and searching for reports, and creating new visuals. This saves you time, ensures accuracy, and cuts costs, empowering your team to focus on what truly matters—interpreting insights swiftly for strategic planning.  

Copilot generative AI MS Dynamics 365 Finance release Wave 1 Updates

3. Copilot-powered solution for receipt matching errors in vendor invoices 

Public Preview Jul 2024 

Within the Dynamics 365 Finance platform, the vendor invoice automation process may encounter exceptions at various junctures. These exceptions necessitate the AP clerk to undertake numerous corrective actions and data searches, resulting in inefficiencies.

However, the inclusion of Copilot within both the pending vendor invoice list and the vendor invoice centre streamlines this process. Copilot swiftly eliminates the need for repetitive and time-consuming navigation between the vendor invoice list and detailed pending invoice pages. It also empowers AP clerks to pinpoint invoices with errors, conduct comprehensive analyses, and rectify errors from a single location. 

Microsoft 2024 Dynamics 365 Finance Release Wave 1 Copilot Recipient Mathing 1
Microsoft 2024 Dynamics 365 Finance Release Wave 1 Copilot Recipient Mathing 2

4. Extended data models for improved operational visibility 

General availability Sep 2024 

By merging project operations, supply chain, and other essential data streams, this update helps you gain a comprehensive understanding of your entire operational ecosystem. That way you can easily identify bottlenecks, optimise resource allocation, and pinpoint areas for improvement.  

This useful functionality offers an intuitive dimensional model for supply chain and project operations, complemented by default reports tailored to your value chains. That extends your analytical reach by seamlessly incorporating external data into your models and reports 

This, in turn, not only helps you unlock the full potential of your business but also empowers your decision-making with a holistic perspective on operations and supply chain metrics. Whether reallocating resources, prioritising projects, or negotiating with suppliers, detailed insights pave the way for strategic choices. 

5. Prepayment sales invoice 

Public Preview Jul 2024 

Now you can empower your business with streamlined invoicing processes tailored to customers who make prepayments. This feature update for prepayment sales invoice streamlines your cash flow management, ensuring precise recording and tracking of prepayments. By optimising financial operations, it not only boosts efficiency but also mitigates risks, contributing significantly to overall business success. 

This update offers the flexibility to automatically issue invoices against prepayment sales order lines. Payments are securely collected prior to the delivery of goods or services, facilitating seamless transactional flow. Subsequently, the prepayment invoice is meticulously reconciled and settled with the final invoice, guaranteeing accurate allocation of payments. This helps you gain an unparalleled financial control and ensure customer satisfaction. 

6. Enhanced bank reconciliation reports for added efficiency 

Public Preview Jul 2024 

What this update does is enhance efficiency in bank reconciliation within Dynamics 365 Finance, empowering businesses to streamline their financial processes. Manual labour is minimised as automation takes centre stage, liberating cash management clerks’ time. By seamlessly aligning cash balances and bank statements, discrepancies are swiftly identified, ensuring meticulous financial reporting.

The revamped bank reconciliation statement report boasts an array of enhancements, from redesigned headers to comprehensive transaction breakdowns, facilitating clearer insights. Furthermore, the system captures report snapshots upon reconciliation, guaranteeing data accuracy for future reference and elevating your financial management with Dynamics 365 Finance. 

Microsoft 2024 Dynamics 365 Finance Release Wave 1 Efficient Banck reconciliation

What’s Next 

Understanding and leveraging these feature updates on your own can be time-intensive, pulling you away from your core tasks. But with Dogma’s expert help, you can make this process a breeze with less business disruptions.  

Microsoft 2024 First Release  Dynamics 365 Finance
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