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Microsoft has recently released the 2021 wave 1 updates for Dynamics 365. This wave 1 release comprises all the features that would be released from April 2021 to September 2021.

The new features introduced in the first wave of 2021 will help you enable innovation and improve critical capabilities. By providing improvements to vital business functions, these updates will further empower your business' digital transformation.

This release saw new features across various Dynamics 365 applications— Finance, Supply Chain Management, Business Central, etc.

Let us go through the Dynamics 365 updates 2021 in each of these applications:

Microsoft Dynamics 365 Finance

Intelligence and automation are the overarching themes of the 2021 wave 1 release of Dynamics 365 Finance. From cash flow automation based on predictive results to out-of-the-box machine learning for financial operations, this release has fingerprints of advanced technology all over it. Critical improvements to Dynamics 365 Finance in this release include:

  • Cash flow forecasting- project integration: The project forecast model's cost forecasts were earlier shown in project management and accounting. These forecasts are now also available in cash and bank management. As this information includes predictable project costs and revenues, you can now generate a more complete cash flow forecast.
  • Better performance with AI and automation: Microsoft has harnessed the power of AI into finance processes to help organizations make quick and informed business decisions. By using configurable and extensible models, 2021 wave 1 updates provide intelligent and accurate cash flow predictions. Here are Dynamics 365 updates 2021 for financial insights:
    • Customer payment predictions
    • External data for cashflow forecasting
    • Forecast bank balance
    • Intelligent budget proposal
    • Treasurer workspace

Microsoft Dynamics 365 Supply Chain Management

Dynamics 365 Supply Chain Management 2021 release wave 1 will help you maximize the utilization and minimize inefficiencies. With a host of improvements in this release, 2021 wave 1 for Dynamics 365 SCM has focused on enabling overall visibility and empowering users with better control. Microsoft dynamics 365 updates for supply chain management can be classified into:

  • Asset management: If you use the asset management plug-in for asset maintenance efforts, this release will offer you improved efficiency and transparency. This wave also includes incremental improvements to simplify and enhance scheduling and executing planned maintenance work. It also helps you in making sure that the maintenance work is performed at the right time.
    • Apply rules for grouping work orders while running a maintenance plan
    • Bill customers for maintenance work
    • Plan maintenance based on accumulated asset counter values
    • Track asset usage based on IoT signals
  • Inventory and logistics: With several new inventory and logistics features in this release, you can gain resiliency, visibility and efficiency in your supply chain. Wave 1 strengthened the warehouse management mobile application with a better user experience.
    • Landed cost
    • Schedule warehouse work creation
    • Set default financial dimensions for inventory standard cost revaluation vouchers
    • Warehouse execution with scale units in the cloud
    • Warehouse management mobile application
  • Manufacturing: New features in manufacturing will enable you to carry out scalable and resilient mission-critical manufacturing processes without interruption. This release also focuses on enhancing and innovating the production floor execution interface.
    • Saved views for production control
    • Worker sign-in with face recognition
    • Manufacturing execution with scale units in the cloud
    • Manufacturing execution with edge scale units on your computer hardware
    • Enhanced production floor execution interface for manufacturing
  • Planning: The planning optimization add-in Dynamics 365 Supply Chain Management will now see the introduction of material requirements planning II (MRP II). This capability assists in planning production schedules and determining delivery lead times. 2021 wave 1 release has the following supports for planning optimization:
    • Coverage time fence support
    • Purchase requisition support
    • Forecast submodel support
    • Schedule with infinity capacity support
    • Reorder margin and issue support

Microsoft Dynamics 365 Business Central

The wave 1 release has made considerable improvements to help you become more productive, efficient, and accurate. By enhancing the performance, usability, and printing, the in-app improvements help new and existing customers alike. A few key highlights of Dynamics 365 Business Central Wave 1 are:

  • Most-awaited changes: Business Central 2021 release wave 1 will see some most-requested improvements in critical areas like banking, payments, and performance.
    • Move task of adjusting item costs to the background with assisted setup
    • Automatically create lot and serial number information cards
    • Improvements in bank and payment reconciliation
    • Dimension corrections for G/L entries
    • Simplified bank statement file import
  • Better collaboration with Microsoft 365: With the 2021 release, Microsoft has improved the processes between Business Central and Microsoft Teams. It has also strengthened the Excel and Outlook plug-ins in the solution.
    • Lookup Business Central contact from Microsoft Teams
    • Enabled Word merge in Business Central
    • Now supports cloud printing through Microsoft Universal Print
  • Faster onboarding: Through the following enhancements to the process of setup, Microsoft has made onboarding faster and seamless.
    • Checklist for guided initial setup
    • Improved setup experience with Power BI
  • In-app contextual help enhancements
  • Integration with Microsoft Dataverse and Power Platform

Regardless of your company’s size and industry, Microsoft dynamics 365 updates 2021 wave 1 has something for everyone. Ensure you optimize the utilization of these new features to promote efficiency and growth in your business.

Are you utilizing your Microsoft Dynamics 365 ERP to its full potential? If not, learn how your company can leverage the power of this technology to overcome the challenges that were presented by the crisis.

Next Read: [Ebook] How Microsoft Dynamics can Help Businesses Pivot During Crisis

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