What is Dynamics 365 Business Central? How different is it from Dynamics NAV?

If you are using Dynamics NAV, you would have heard about its latest incarnation- Dynamics 365 Business Central. Other then the name change, what else is new? Let’s start with a brief history of NAV, for better understanding:-

Dynamics NAV was initially known as Navision, a suite of accounting software developed by PC&C A/S (Personal Computing and Consulting), an IT developer in Denmark. It became so successful, that PC&C A/S renamed itself to Navision Software A/S in 1995 and Navision became the company’s main product. Microsoft then acquired Navision in 2002 and renamed it to Microsoft Dynamics NAV.

Through the years, Microsoft has developed Dynamics NAV from its single-user accounting application to multi-user and network on-premise, and expanded it from its native accounting capability to include operations, sales support, warehouse management, project management, etc.. And last year, in 2018, Microsoft released its latest version of Dynamics NAV and renamed it to Dynamics 365 Business Central. As the new name indicates, this latest version focuses on business operations and its new or enhanced features are developed for the company management to have an instant, up-to-date view at its various operations via a customizable dashboard. Below are the key upgrades and new features at Dynamics 365 Business Central:

Microsoft Dynamics 365 Business Central offers:

• Tighter integration with other Microsoft apps, without traditional silos that hinder efficiency
• A complete view of your business using real-time data and business analytics (dashboard) to generate actionable insights through embedded Power BI
• Option of hosting on Cloud: it is available as both a Cloud-based SaaS solution or on-premise hosted solution, while Dynamics NAV is only available on-premise or private data center hosting
• Creation and automation of workflows, with Microsoft Flow, to improve efficiency
• Seamless data sharing with the Microsoft CRM platform, Dynamics 365 for Sales
• Subscription and annual license purchase (Dynamics NAV is only available as an annual license purchase)
• Easy upgrades with a bi-annual release cadence

Transitioning from Dynamics NAV to Dynamics 365 Business Central

Existing Microsoft Dynamics NAV customers may still be unclear whether they should upgrade their current ERP solution. They may be unsure about how much an upgrade will cost, who can upgrade and when they should make the change. If you are a business owner and still reflecting on whether to upgrade, please take note on below 3 important points:

1. There will be no new versions and updates for Dynamics NAV after December 31, 2018. Microsoft has also stopped the sales of Dynamics NAV in April 2019.
2. Microsoft is decommissioning old operating systems and businesses should upgrade to Windows 10 Professional or Enterprise editions by 2020. Older versions of Dynamics NAV would not be able to function properly on Windows 10.
3. Due to Singapore Go Digital campaign, IMDA is making it mandatory for businesses to switch to E-Invoicing. Older versions of Dynamics NAV would not have the updates required to connect to the AP interface for E-Invoicing. While Dynamics 365 Business Central is E-Invoicing ready.

Microsoft is committed to delivering up-to-date solutions that help its users streamline their business processes, enhance customer interactions, and stimulate growth. Hence Microsoft is offering time-sensitive, discount pricing for existing Dynamics NAV customers to upgrade to Business Central. Customers that qualify for this discount are those that have been running any solution from the Dynamics ERP family, before October 1, 2018.

Customers can enjoy a discount of up to 40% off. However, this discounted price ends on June 30, 2021. From that date, new and existing customers will pay full price for Microsoft Dynamics Business Central licenses.

Please contact us at sales@microlabs.com.sg or call 6844 0558 for further discussion, and fix a meeting with our consultants who can better advice you on the appropriate upgrade or migration plan.