You already know how powerful Microsoft Business Central can be for optimizing your business processes. So, are you interested in how AI can be used within Business Central to take your business to new heights? Let us introduce your new business partner: Dynamics Copilot.

This blog will explore Microsoft Dynamics Copilot and highlight how businesses can use it for increased flexibility and efficiency.

A little history

• The concept of using computer power emerged in the 1940s-1950s (think about how computers were used to decode messages during WWII)
• 1960s – the first use of Materials Requirements Planning (MRP) – helping people to use computing power to assess inventory levels
• 1980s – Oliver Wight introduced MRP II to enrich supply chain planning processes
• 1990s – Enterprise Resource Planning (ERP) systems emerged
• 2010s – Mobile computing integrated into ERP and the addition of Public Cloud – Microsoft began investing in technology infrastructure and laid the foundation for the technical functionality we all enjoy today
• At its inception in 1984, Business Central had a different name and was a single-user entity
• Re-branded to Business Central, it was officially launched in 2018 – look how far it's come!

How can you use Microsoft Dynamics 365 Business Central Copilot?

Microsoft Dynamics 365 Business Central is rapidly using AI, or artificial intelligence, in a number of its features to improve it and give users wise insights. The following are some significant applications of Copilot in Business Central:

• Development of Marketing Text: imagine the time savings when you can produce concise information that will explain your products' features and benefits to prospective customers
• Cash Flow Projections: knowing when a customer will pay based on their payment terms gives you insight into monies you can expect to leverage when needed.
• Late Payment Predictions: even though they're not ideal, knowing when payments might be delayed is vital to business planning.
• Data Analysis and Reporting: Business Central analyzes a lot of data using AI algorithms. Businesses can make wise judgments based on precise insights thanks to their assistance in identifying patterns, trends, and anomalies.
• Intelligent Forecasts: Predictive analytics driven by AI can evaluate historical data and forecast future events. AI algorithms in Business Central can estimate sales, inventory levels, cash flows, and other critical performance metrics, assisting in improved resource allocation and planning.
• Process Automation: AI can automate tedious and repetitive operations, giving people more time to concentrate on strategic duties. For instance, Business Central can employ AI to automate expenditure management, invoice processing, and other typical administrative processes, saving time and increasing productivity.
• Customer relationship management (CRM): Business Central uses AI to improve CRM features. It can evaluate customer data, interactions, and purchase history to make personalized recommendations, improve marketing campaigns, and increase customer happiness and retention.
• Natural Language Processing (NLP): Business Central uses NLP to support commands and inquiries in natural language. Users can communicate with the system using voice or text to ask questions, give directions, or seek information. Business Central can process and reply to these interactions utilizing AI-based language comprehension capabilities.
• Fraud detection: AI algorithms can examine Business Central transactional data to detect fraud. It can assist companies in preventing financial losses brought on by fraudulent transactions by identifying patterns and abnormalities.
• Supply Chain Optimization: Using historical and current data on inventory levels, demand, and supplier performance, AI may improve Business Central's supply chain operations. It can help with supply chain planning, inventory optimization, and demand forecasting, increasing productivity and lowering costs.
• Intelligent Document Management: Business Central's AI-powered document management tools can automatically extract pertinent data from receipts, purchase orders, and invoices. Data entry is made more straightforward, there are fewer mistakes, and document processing is quicker, thanks to automation.

Future areas of Microsoft Dynamics 365 Business Central Copilot's capabilities include creating extended text, generating copy in multiple languages to facilitate international business endeavors, seasonal forecasting to assist production and sales teams, monitoring operational KPIs, and code creation.

It's vital to remember that the specific AI capabilities offered by Business Central may change based on the software's version, updates, and configuration. Microsoft is still investing in AI research and development, so additional AI capabilities and improvements will eventually be available.

Conclusion

Liberty Grove can help companies identify areas where a solution like Microsoft Dynamics 365 Business Central Copilot can make business administration a breeze, freeing time for more critical tasks and increasing profitability.

Contact Liberty Grove for a complimentary consultation on implementing Copilot into your ERP system for greater flexibility and functionality.

About the author

Liberty Grove Software is an established Microsoft Partner that focuses on providing customers with sales, service, and support for Microsoft Dynamics 365 Business Central/NAV solutions and training and upgrades.

Over more than 25 years, Liberty Grove has assisted hundreds of customers with businesses ranging from small to mid-sized to Microsoft Partners in implementing, training, customization, and upgrading Microsoft Dynamics ERP solutions. The organization is one of only a few companies worldwide that Microsoft recognizes as qualified to provide Business Central/NAV Upgrade Service Centers.