Microsoft Dynamics 365 Finance unifies and optimizes financial operations while integrating financials into core business processes to maximize financial performance and boost operational productivity.
Dynamics 365 Finance Implementation is an ultra- connected Enterprise Resource Planning (ERP) cloud solution designed to help enterprises monitor, manage, and monetize organization- wide finance functions. The application allows businesses to minimize operational costs and optimize spending across business geographies, leveraging process automation, budget control, financial planning and deep analysis. All the capabilities and features were originally available with Dynamics 365 Finance and Operations solution before Microsoft separated the finance and operations functionalities.
The blog discusses the steps for Dynamics 365 Finance (formerly Microsoft Dynamics AX) implementation and installation. However, before starting implementing Dynamics 365 Finance, map out various best practices and critical business elements, including – project scope, budget estimates, project completion timelines, and project risks. In addition, finance teams must be familiar with different roles involved in Dynamics 365 Finance implementation projects.
Finance managers must identify the right skill sets and expertise of the existing groups while assigning tasks or roles.
It would include:
- Business Decision Maker decides whether to invest in new Dynamics 365 Finance solution;
- Project Manager oversees the Dynamics 365 Finance implementation project;
- Subject Matter Experts (or SMEs) specialize in managing specific company processes;
- Business Users access and operate the Dynamics 365 Finance solution post the planned implementation;
- Developers build a new Dynamics 365 Finance application or extend the core functionality of an existing solution.
Partners would primarily comprise:
- Functional Consultant understands the business needs and translates those into business policies and solutions that comply with prevailing industry best practices.
- Solutions Architect leads the Dynamics 365 Finance implementation team that typically includes Developers.
How to Proceed with Dynamics 365 Finance Implementation
Post understanding the general scope of the solution and deciding whom to assign the requisite roles, businesses can move further to implementing Dynamics 365 Finance.
Here are the major considerations to initiate the implementation project:
Complete Lifecycle Services (or LCS) Configuration
Follow the below steps to complete the LCS configuration
>> Go to LCS, select sign in, and then Log In using the subscription account.
>> Select the plus (+) sign to create a new project.
>> Select Migrate >> Create Solutions >> Learn for your project type.
>> Name the project, and then pick Finance to choose a product name.
>> Select a methodology and industry, and then click Create.
Perform a System Analysis
The functional consultant would help document the business requirements while working closely with the solution architect, responsible for the needs analysis. The architect would collaborate with team members and suggest workarounds or develop extensions to ensure the smooth functioning of Dynamics 365 Finance modules. To implement and access on- premises projects, users must enter the license serial number mentioned under the Project >> Organization and Ownership option. Finance managers may also plan a demo environment to familiarize users with Dynamics 365 Finance.
To manage an on- premises implementation project, users must download relevant data configuration templates, complete required signoffs, access business processes, and browse through customers’ needs. Finally, estimate the effort required to set up the infrastructure for the on- premises deployment.
Design and Develop
Customize development and test environment with Dynamics 365 Finance, define test cases and write test scripts based on the business requirements, test plugins or third- party applications for compatibility and security, and access automated tools to identify and resolve issues with the code and customizations. Finance teams can select a build for the relevant production release and upload that to the LCS asset library, tagging it as a release candidate. Next, upload deployment packages to the asset library and update project milestone dates as needed.
In addition, system owners need to complete signoffs for Functional Design Documents (or FDD) and Technical Design Documents (or TDD) created during the implementation process.
Test the Implementation
On- premises deployment requires users to set up an on- premises connector by navigating to Project Settings under the On- premises Connectors tab and following the instructions. Next, create a sandbox environment that comprises the core Dynamics 365 Finance functionalities. Later, test- run the customized scripts in the environment to confirm everything works as designed and estimate efforts and time for identified alteration and system issues.
Business users must test- run the application before initiating User Acceptance Testing (UAT) with customers. In addition, users need to sign off on all testing scenarios before moving the code to production.
Deploy and Run Implementation
Complete the provisioning checklist before deploying the production environment through LCS. Project Owner must complete the required signoffs and perform a mock of the run to check for issues before the final deployment.
Finally, perform a go- live health check to ensure everything in production functions as designed.
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