Hot Off the Press, Microsoft Dynamics 365 & Industries 2022 Release Wave 1 Plan
Microsoft periodically delivers automatic Dynamics 365 Updates. This keeps your ERP system up to date with the latest and greatest software. There are several new features, particularly the Finance features, that I find interesting with Dynamics 365 Finance & Industry clouds: 2022 Release Wave1.
My new feature highlights:
Globalization Studio will be released enhancing the low-code tax compliance and globalization capabilities and make the globalization services and multi-country content available for any first- and third-party app and extended with prebuilt ISV connectors.
Microsoft will continue to extend and enhance globalization services in Globalization Studio, such as Tax Calculation and Electronic Invoicing.
Public preview of Tax Audit and Reporting Service. It will enhance and scale the existing tax audit and reporting content and capabilities of Electronic Reporting to the enterprise level. This service is an evolution of Electronic Reporting into a low-code microservice and leveraging capabilities of Azure Data Lake Storage and Azure Synapse Analytics.
Financial tags let organizations track user-defined fields on accounting entries posted to the general ledger, eliminating the need to create financial dimensions that contain values that are not reusable. Additional financial dimensions increase the size of an organization's chart of accounts, causing a negative impact on system performance during processes such as the year-end close. The financial tag values can be used for reporting purposes or ledger settlement. For example, you can create a financial tag to track payment references used for ledger settlements, making it easier to match transactions.
Full, comprehensive subscription billing solution to organizations engaging in recurring subscription revenue opportunities, including handling complex pricing, consumption, and milestone billing, managing large volume customer contracts, and automating the complexity around the financial impact of recurring revenue.
Enabling power finance users to have analytical insights into their financial and operating data using the preferred tool of choice, Excel or Power BI, by providing a financial analytical data model that is denormalized, reliable, scalable, and extensible.
Automate the reading and recognition of vendor invoices by providing OCR capabilities to complete the full end-to-end automation of accounts payable. By creating a continuous, intelligent automation solution with Azure Form Recognizer, AI Builder, and Power Platform, Dynamics 365 Finance will create out-of-the-box vendor invoice models and a framework for continuous learning for invoice exceptions in an easily deployed, intuitive user experience.