Microsoft has announced that the finance insights features of Dynamics 365 Finance have now reached general availability. The tools include cash flow forecasting, intelligent business proposals, and customer payment insights.
The new features leverage Artificial Intelligence (AI) tools to assist D365 Finance customers "improve the efficiency and quality of financial processes by leveraging intelligent automation," according to Dynamics 365 GM Georg Glantschnig in a new blog post. These new capabilities will make error-prone and routine financial management tasks more accurate, focused, and efficient.
Two years back, Microsoft initiated the journey of branding these capabilities as a product in the Dynamics 365 suite that was to be called Finance Insights but has now classified the resulting work as a set of capabilities within Dynamics 365 Finance.
Customer payment insights can be leveraged to help predict when customers will pay their invoices. It analyses historical customer data and then "uses these insights to set up a more proactive collections process." To correctly train the model, at least a year's worth of customer invoices are required.
Cash flow forecasting can be used to improve forecast accuracy and it will automate data integration from external systems and reports. It will leverage machine learning to build better forecasts.
Intelligent budget proposals provide "a streamlined mechanism to prepare multiple years of history, analyse the data, and predict what the budget or forecast should look like based on what has happened over time," according to Microsoft.
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