Data is the New Oil: How Dynamics 365 accelerates digital transformation

Digital disruption changed the conversation between businesses and their customers forever. Customers used to just need information but now are looking for experiences and outcomes. New digital-native competitors are taking advantage of the new technologies to better serve customers while traditional businesses are often tangled in poorly integrated systems.

As you know by now, Microsoft Dynamics 365 is making ERP and CRM one application. This concept isn’t necessarily revolutionary, but what Microsoft has done is quite a bit different. It’s evolutionary. Dynamics 365 gives people a platform to get untangled and digitally transform their business.

Similar to back in 2000, the time of Y2K, we’re experiencing another industrial revolution of sorts. Data is becoming the new oil.  Companies that are embracing digital make almost 70% of market share and 77% of the money – that says that if you’re not embracing digital, you’re losing market share and fast.

New technologies to hit the market separately haven’t really changed things, but by combining them and building your business on applications in the cloud allows for a more elegant business model built around the customer’s needs. With this newfound flexibility, businesses can build experiences and outcomes that older, more traditional companies cannot.

Dynamics 365 doesn’t just bring ERP and CRM together, it connects many more components in a business that were previously disconnected. It’s a whole new way of doing business. It will change your operations, yes. It will change how you work with employees, yes. It may even change your entire business model and how you serve customers. Change is in the air with Dynamics 365. This is not a time to be afraid of it, rather it is a time to embrace it and make your company the best it can be in this digital age.

Okay, now you should be excited and raring to meet the digital transformation head on! But what are the next steps? It’s time to deconstruct your business.

  1. Start by how you serve your customers currently. Map out the process you go through as well as the steps your customer takes. How can you transform that customer experience in a way that speaks to them and provides value very early on, if not immediately?
  2. Then tackle how you handle your employees. Digitizing operations can dramatically boost morale in places you never would usually think of and the obvious benefit is you’ll be able to better serve customers quickly and more efficiently.
  3. Ask whether a different business model, say moving to a subscription-based set up vs. contractual, makes better sense to meet the digital expectations of your customers and employees. The Dynamics 365 platform allows you to be more flexible and meet demands that change all the time instead of staying in a linear mindset.

Once you pick these areas apart, it’s time to identify the right cloud strategy. If you have your data on premise, your concerns may differ than those who are already in the cloud.

Then, it’s onto licensing, which isn’t as complicated as it once was. Licensing is an easier conversation than it was 10 years ago. People don’t expect to pay all at once and own it anymore and not many have the capital to do this. Companies have a better handle on cash management, which makes paying x dollars per month versus a lot of capital all at once much more of the norm. This scenario is exactly what you get with Dynamics 365.

Migration to Dynamics 365 is more of an upgrade for current Microsoft Dynamics CRM users and we’ve done hundreds of migrations from other systems into CRM as well as hundreds of versions to the next version. It takes a little more legwork to move other products into CRM, but we set it up right so users are ready to digitize moving forward, whether that means cloud today or five years from now.

Contact Tribridge to schedule an assessment. Part of this assessment is technical and the other is all about your business.

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