The 2024 Wave 2 update for Microsoft Dynamics 365 Business Central introduces a wealth of powerful features and enhancements designed to empower small and mid-sized businesses. As your trusted partner in delivering bespoke business solutions, Monpellier is excited to share the key updates from this release and provide expert insight into how these innovations can benefit your organisation.

In this blog post, we will break down the most important updates, focusing on their impact, how they streamline business processes, and why they position Business Central as a leader in business management solutions.

What is the Business Central Wave 2 Update 2024?

Microsoft Dynamics 365 Business Central is a comprehensive business management solution that automates and streamlines operations such as finance, supply chain, manufacturing, projects, and services. The Wave 2 2024 update introduces numerous new features, AI-driven capabilities, and integrations that help businesses work more efficiently and remain competitive.

Here are the key areas where the 2024 Wave 2 update will have a significant impact:

Optimising Business Processes with Copilot

One of the standout updates in the 2024 Wave 2 release is the expanded role of Copilot, an AI-powered assistant designed to help businesses streamline tasks and make better decisions more quickly. By leveraging the capabilities of Copilot, organisations can optimise their workflows and enhance overall productivity. Here are some key functionalities introduced in this update:

Create Sales Orders via Chat

Imagine being able to complete a sales order simply by chatting with Copilot. This innovative feature allows businesses to automate the creation of sales orders directly from chat interactions, revolutionising how customer service representatives and sales teams engage with clients.

• Seamless Integration with Chat Interfaces: Whether it’s through Microsoft Teams or another chat platform, users can now initiate sales orders using natural language commands. For example, a representative might say, “Create a sales order for 100 units of Product X for Customer Y,” and Copilot will automatically generate the order in Business Central.
• Enhanced Customer Interactions: By streamlining the sales order process, teams can respond to customer inquiries more swiftly, improving overall customer satisfaction. This not only speeds up the sales cycle but also allows for a more conversational and engaging interaction, which can lead to increased sales opportunities.
• Reduction of Human Error: Automating sales order creation reduces the likelihood of errors associated with manual entry, ensuring that orders are accurate and complete. This is particularly crucial in high-volume environments where mistakes can lead to costly delays and customer dissatisfaction.

Generate Product Information

Another significant enhancement of Copilot is the ability to generate detailed product information efficiently. Users can now create product details, including variants and units of measure, through simple commands, which streamlines the product management process.

• Minimising Manual Data Entry: Instead of spending time inputting product details manually, users can prompt Copilot to generate this information. For instance, a user can ask, “Create a new product variant for Product Z with dimensions X, Y, and Z,” and Copilot will populate the necessary fields in Business Central.
• Ensuring Data Accuracy: By reducing the reliance on manual entry, the likelihood of errors is significantly diminished. This ensures that product information is accurate and up to date, which is vital for inventory management, sales, and customer satisfaction.
• Time Savings: With the ability to quickly generate product information, teams can focus on more strategic tasks rather than getting bogged down with data entry. This efficiency allows organisations to bring products to market faster and respond to changes in demand swiftly.

Reducing Repetitive Tasks with Business Central 2024 Wave 2 Update

By automating these critical tasks, the Business Central Wave 2 update enables businesses to work smarter, reducing repetitive tasks that can drain time and resources.

• Increased Overall Productivity: With Copilot handling routine tasks like sales order creation and product information generation, employees can devote more time to higher-value activities such as strategic planning, customer relationship building, and innovation. This shift not only boosts morale but also contributes to the overall growth and efficiency of the organisation.
• Empowering Employees: Copilot’s intuitive interface and natural language processing capabilities empower employees at all levels to interact with Business Central without needing extensive technical knowledge. This democratisation of technology enables a broader range of staff to utilise advanced tools effectively, fostering a culture of innovation and continuous improvement.
• Real-Time Insights and Decision-Making: With Copilot’s capabilities, businesses can access real-time data and insights that support informed decision-making. For example, as sales orders are generated, teams can immediately analyse trends and customer preferences, allowing for agile responses to market demands.

Seamless Integration with Power Platform

The 2024 Wave 2 update significantly enhances Business Central’s integration with the Power Platform, providing businesses with a robust toolkit for automating workflows and streamlining operations. This seamless connection between Business Central and the Power Platform empowers organisations to customise and optimise their unique business processes effectively. Here’s how this integration transforms operational efficiency:

Automating Workflows with Power Automate Templates

The integration with Power Automate allows businesses to automate repetitive tasks and create efficient workflows through pre-built templates. These templates are designed to cater to various business functions, from sales and customer service to inventory management and reporting.

• Customisation of Business Processes: With Power Automate, organisations can easily tailor workflows to meet their specific operational needs. For example, a company might set up a workflow that automatically notifies team members when stock levels drop below a certain threshold or triggers approval processes for purchase orders. This flexibility ensures that businesses can adapt the tools to fit their unique requirements.
• Ease of Use: Power Automate’s user-friendly interface means that employees with little to no coding experience can create and manage their workflows. By simplifying the automation process, businesses can empower their teams to take the initiative in optimising their workflows without heavy reliance on IT support.
• Increased Productivity: Automating routine tasks frees employees to focus on higher-value activities. For instance, instead of manually tracking approvals, staff can concentrate on strategy development and customer engagement, leading to improved productivity and job satisfaction.

Natural Language Processing with Copilot

The inclusion of Copilot within the Power Platform’s cloud flows enhances the user experience by enabling straightforward, natural language expressions for creating connected workflows.

• Intuitive Workflow Creation: Users can leverage Copilot to generate workflows using simple commands. For example, a user can say, “Create a workflow to send an email notification when a sales order is approved,” and Copilot will facilitate the setup, reducing the technical barriers often associated with workflow automation.
• Enhanced Accessibility: By utilising natural language processing, Copilot makes it easier for all employees, regardless of their technical proficiency, to engage with the Power Platform. This accessibility encourages a broader adoption of automation tools across the organisation.
• Faster Implementation: The ability to quickly set up workflows means that businesses can react promptly to changing circumstances. Whether responding to market shifts or internal operational needs, the integration of Copilot allows for agile and efficient responses.

Regulatory Compliance Made Easy with Business Central 2024 Wave 2 Update

In today’s complex regulatory landscape, ensuring compliance is a top priority for businesses. The 2024 Wave 2 update simplifies this process through several key features designed to automate compliance-related tasks, making it easier for organisations to adhere to local and international regulations.

Managing Installments on Sales Documents

The update introduces functionality that allows businesses to manage instalments on sales documents seamlessly. This is particularly beneficial for organisations that offer payment plans or financing options.

• Simplified Payment Structures: Businesses can now set up payment schedules directly within Business Central, ensuring that sales documents reflect accurate instalment terms. This feature helps mitigate errors associated with manual entry and enhances customer transparency regarding payment obligations.
• Streamlined Financial Operations: Automating the management of instalments not only saves time but also improves cash flow forecasting. Businesses can track payment schedules effectively, ensuring timely collections and reducing the risk of overdue payments.

Handling Multiple VAT Numbers

For organisations operating across borders, the ability to manage multiple VAT numbers is crucial. The 2024 Wave 2 update addresses this need by providing tools that facilitate VAT compliance for businesses with international operations.

• Reduced Complexity: Managing VAT across different jurisdictions can be a daunting task. With Business Central, organisations can easily input and manage multiple VAT numbers, ensuring compliance with various tax regulations without overwhelming administrative burdens.
• Automatic Calculations: The update automates VAT calculations based on the applicable rates for each jurisdiction, reducing the risk of errors and ensuring accurate reporting. This functionality streamlines the reconciliation process and provides peace of mind that financial operations remain compliant.
• Enhanced Reporting: With features that simplify VAT management, businesses can generate accurate reports needed for compliance audits, ensuring that they can provide documentation required by regulatory bodies with ease.

Expanded Global Reach and Localisation

Business Central continues to grow in global reach, now available in over 170 countries and regions. This expansion is particularly beneficial for businesses looking to expand internationally. By offering robust support for local regulations through partner-led localisations, Business Central ensures that companies in various regions can operate seamlessly.

Additionally, regulatory features are continuously updated to meet local compliance standards, providing businesses with peace of mind that they are always aligned with the latest legal requirements.

Improved Reporting and Data Analysis

The ability to make data-driven decisions is crucial to any business’s success, and the 2024 Wave 2 update includes over 70 new Power BI reports. These reports provide businesses with greater insight into their operations, helping them track performance, monitor KPIs, and uncover growth opportunities.

Enhanced Reporting Capabilities

1. Comprehensive Dashboard Access: With the introduction of these new reports, users can easily access a wide range of analytics right from their Business Central dashboard. This eliminates the need for switching between different applications, allowing for a more streamlined workflow. The dashboards are designed to be user-friendly, making it easy for all team members to access key metrics and insights.
2. Custom Reporting Options: The new reporting features allow for customisation based on specific business needs. Users can create tailored reports that focus on the metrics that matter most to their organisation, enabling targeted analysis and decision-making. This flexibility ensures that businesses can adapt their reporting to meet changing market conditions and internal objectives.
3. Real-Time Insights: The new Power BI reports provide real-time insights into business performance. This means that companies can quickly identify trends, respond to issues as they arise, and make informed decisions based on up-to-date data. The ability to view data in real-time enhances agility and supports proactive management.

Conclusion

The Microsoft Dynamics 365 Business Central Wave 2 Update 2024 presents an incredible opportunity for businesses to enhance their operations through innovative features, streamlined processes, and improved decision-making capabilities. By embracing these advancements, organisations can optimise their workflows, enhance compliance, and leverage the power of data to drive growth.

At Monpellier, we are committed to helping businesses unlock the full potential of Business Central. If you’d like to learn more about how these new features can be integrated into your organisation or to discuss your specific business needs, don’t hesitate to reach out to our expert team.