Unpacking the 2023 Microsoft Dynamics 365 Release Wave 2: Key Innovations in Commerce, Finance, and Supply Chain Management
The Microsoft Dynamics 365 2023 Release Wave 2, scheduled from October 2023 to March 2024, includes a range of new functionalities and improvements. In this post, we’ll take a closer look at the updates included for Commerce, Finance, and Supply Chain Management.
Updates in Commerce
AI innovation with copilot
The update integrates AI tools aimed at improving content quality on e-commerce platforms.
B2B Ordering Process
Distributors will have the option to manage orders more efficiently (view, accept, reject), and the registration process for buyers has been simplified.
Inventory and Pricing Information
Real-time inventory status is integrated with Dynamics 365 Supply Chain’s Inventory Visibility Service. Additionally, new pricing capabilities have been added.
New markets, starting with Sweden and Eastern Europe, will be easier to access due to localization features.
Highlights Commerce Release Wave 2 (watch video):
Extended Planning and Analysis
Operational and financial planning are integrated to provide a more comprehensive planning tool.
General availability of business performance analytics, which streamlines financial reporting by centralizing data from multiple business processes and in an easy-to-use interface.
Invoice and AP Process
A new workspace for AP clerks and enhanced invoice journal support are included.
Global and Regulatory Compliance
Expanded features for more Latin American countries and various tax-related updates are part of the release.
Highlights Finance Release Wave 2 (watch video):
Supply Chain Management Updates
Sales Process Adaptability
The release introduces new functionalities like compound charges and advanced order holds. This increases the agility of the sales process.
Additional capabilities for managing export restrictions have been included.
Sales and SCM Cohesion
Businesses with sales processes spanning Dynamics 365 Sales and Supply Chain Management benefit from these being expanded to include the management of prospects.
A revised approval process for purchase orders and requisitions aims to increase procurement efficiency.
Warehouse Operations Efficiency
Optimizations in warehouse procedures focus on key processes such as counting, customer returns, and product receipts to increase overall efficiency.
Global Inventory Accounting Add-in
Manufacturers dealing with multi-currency inventory accounting will continue to find updates to the Global Inventory Accounting Add-in useful.
Material Handling and Manufacturing Changes
Improvements in the processes for material picking and making last-minute changes in manufacturing aim to enhance agility on the shop floor.
Warehouse Management Capabilities for Third-Party Systems
The update includes new interfaces that allow companies to use Dynamics 365 Supply Chain Management’s warehouse management features while operating with third-party ERP or order management systems.
Highlights Supply Chain Release Wave 2 (watch video):
The second release wave of 2023 for Dynamics 365 introduces substantial enhancements designed to offer transformative features for your enterprise. This rollout incorporates an extensive array of updates that span multiple Dynamics 365 modules such as Marketing, Sales, Customer Service, Field Service, Finance, Supply Chain Management, Project Operations, cross-app capabilities between Finance and Operations, Human Resources, Commerce, Business Central, Guides, and Customer Insights. Additionally, it extends to Microsoft Viva Sales and the Microsoft supply chain platform, along with their complementary products.
In case of questions, please do not hesitate to contact us.