However, industries usually have to deal with a wide range of delicate tasks when it comes to fuel their online e-commerce retail with appropriate functionalities. Online businesses have occupied the leading platform of business since the rapid growth of internet usage daily. In this era of modern technological advances, it's highly unlikely you can ensure the maximum revenue of your organization without having an online platform. Today, you can get your hands on top-notch commercial solutions in the form of integrated software suits that take care of your business from top to bottom. Microsoft Dynamics 365, known as Axapta worldwide, is one of the most prominent such applications that increases both the conversion rate and user convenience of your business at the same time. It's one of the go-to solutions when building complex e-commerce systems that operate under different geographical spheres. Microsoft Axapta lets organizations curate unique solutions to every complication they might face along the way to a successful fiscal year. We, at Netcore, have been utilizing this awe-inspiring commercial platform to curate customized online e-commerce solutions for clients across the globe for a long time now. We feel it necessary to enlighten our clients why Microsoft Axapta is the way to go when developing your next online business. Bear us throughout this lengthy article in order to find out the ins and outs of this gigantic corporate solution. We'll try to provide you with all the essential insights you need to curate a highly successful online business.
Why do you need solutions like Axapta?
Axapta, like any other ERP(Enterprise Resource Planning) software, is a collection of integrated programs that work seamlessly with one another in a mission to make the manufacturer's life easier. It does so by incorporating highly modular computer applications for every primary level task, from globalization to human resource. The core integrated system operates in almost real-time with a shared global database, accessible from every retailer. It makes the task of managing different online stores for different volatile markets with a universal backend possible. Applications like Axapta are behind every single corporate giant you can name right now. What they do might seem pretty simple at first glance. However, you shouldn't get deceived by looks when it comes to managing online e-commerce retails. Like any other financial organizations, online businesses are very susceptible to rapid changes and have a very high volatility rate. You need to work on your shortcomings pretty fast; else customers will get the service elsewhere. So, a highly integrated solution, trusted by the major industries around the world seems to be a legit approach to us.
Components of an online business fueled by Axapta
Before delving directly into the features, let us discuss the structure of modern online businesses that employ ERP solutions like Microsoft Axapta. Every major ERP application consists primarily of 4 components. These are a transactional database, a dashboard for managing retails conveniently, the system itself(Axapta), and the people who are associated with the business. You can run separate stores for different customers groups in different countries. The transactional database will take care of the financial management of different regional stores. The dashboard is also unique for each store but can be made universal. However, they need to be more user-centric. So, different admin portals are a common characteristic of different regional stores. As we've said already, the central ERP system(Axapta) is an integrated set of different programs. It manages every other program or database associated with every single store. This is the software component in itself. Moreover, people like you and I are those who'd buy something from a given store. The team members that operate the said store, along with us, finalizes the last component. Below, we're outlining some of the most anticipated functionalities you'll get with Microsoft Axapta. They are already capable enough to take on Fortune 1000 companies. Plus, additional updates will always continue to hit the shelf.
Finance & Accounting
Axapta comes in service with general ledgers for keeping track of your sales as a core feature. It gives you the ability to monitor and measure sales tax conveniently. These features aim at enabling you the power to compute your assets, liability, and revenue much more efficiently. You'll get dedicated features for accepting and managing currencies from different geo-regions. Fixed assets feature will take care of managing both solid and fluid assets. You'll be able to administer every single process associated with finance without any uncertainty, all thanks to Axapta's modern accounting features.
Axapta's advance bank management feature lets you manage the account of the legal entity of your organization without a single issue. You can choose and manage other bank accounts and instruments associated with your online e-commerce solution. The devices that you will have access to are deposit slips, checks, bills of exchange, and promissory notes. The Axapta system even lets you reconcile and print out both bank statements and data on standard reports. You can request and issue letters of guarantee by a single click. Axapta comes pre-occupied with advanced modules and Microsoft products that manage to integrate cash and bank management very efficiently.
Customer Relationship Management (CRM)
Microsoft Axapta comes pre-packaged with a built-in CRM(Customer Relationship Management) tool for managing your users much more conveniently. You can configure the utility very quickly, all thanks to its intuitive interface. It will help companies generate leads with a very high conversion rate. The quotation feature allows administrators to provide highly competitive quotes in a mission to attract more customers. It offers a proactive help server to manage any issues your users might face with their product or service. Tools like compliance manager, compensation and benefits manager, customer service representative let you keep a high satisfaction rate in your clients.
This feature lets you develop and keep legally enforceable claims for payments that are held by a client and vendor. This is a fundamental feature for every e-commerce business as customers will often order products without prior payments. This feature controls such payments and can cancel orders automatically if their due has not been cleared within a pre-agreed date. This feature lets you keep track of every account receivable and gives you the ability to convert them into legal debts by commisioning promissory notes. These accounts receivables can be used as collateral when applying for bank loans.
Axapta aims at curating a highly flexible yet advanced solution to inventory management. It comes pre-packaged with highly capable modules for controlling inventory management with built-in support for forecasting, purchasing, classifying, and tracking. The integration of the inventory management utility with the CRM utility is seamless and provides you the ability to exchange information between them. Corporations can quickly optimize their inventory by matching the supply with customer demand. You can classify your inventories based on available storage and item characteristics, allowing for a far optimized stock. Microsoft Axapta also lets you create and manage Bills of Materials (BOMs) quickly with a convenient graphical user interface.
Human Resources Management
This particular utility helps corporations manage all of their human resources, a process which aims at increasing the talent and creativity of your employees while minimizing the cost and resources. This tool also helps you get rid of unnecessary complexities when processing worker and organizational information. You can efficiently manage the corporate hierarchy and position management of your company with the help of Axapta's human resource management feature. From the day an employee joins to their retirement, it will help your business maintain the worker information seamlessly. All in all, the utility not only provide a path to a better workplace environment, but it also increases productivity at the same time.
The administration module of the Axapta is adept at managing the logistics, sales, purchasing, controlling, production and quality of your online e-commerce platform. It lets you easily trace orders and process different triggers as necessary. The application is highly flexible when it comes to the system's ease of use. It enables administrators to generate invoices and manage general accounting transactions efficiently. The natural and intuitive interface is something our analysts also fell for. Even if you need additional advanced features, its module organization will help you integrate customized programs.
Procurement and Sourcing
In this business process, you create purchasing policies to control the purchasing process of your organization. Microsoft Axapta helps you identify suppliers, lets you onboard them as new vendors, and maintain their information. The program allows you to browse and select categories and procure them as you see fit. You can import new catalogs as per your requirements. You'll also be able to negotiate much effectively when it comes to quotation. The utility also allows for efficient purchasing agreements in order to help your business manage the purchase orders much more constructively. Both the procurement workflow and purchase requisition workflow is suitable for a modern day office environment and aims at increasing productivity at a much larger scale.
Sales and Marketing
The mighty powerful sales and marketing module of Microsoft Axapta lets you increase sales and help to build and strengthen customer relationships at the same time. It gives you access to a real-time overview of customer data which allows you to identify customer needs much more accurately. The application collects continuous data on customer purchasing patterns, in an attempt to help you better visualize the trends. Creating and managing a campaign is very simple yet elegant. The application also lets you leverage your ERP data into managing statistical feedback. The capability of monitoring individual sales personnel and sales teams helps you associate the necessary costs and asses the feasibility checking process.
Customization and Extendibility
Although the Microsoft Axapta is based on industry practices and is meant for being used "as is", you can easily modify the software suite according to your need. This ERP software can be adapted to a highly customized top-end e-commerce platform by incorporating newer modules into your business. Though this aspect of the software is optional, it can arm you with powerful features that may open up potential business opportunities for your online business. Axapta is designed to work in a varying degree of configs and behaves the same in any customized business setting. Advanced customization of your existing ERP solution might provide you with a significant boost over your competitors. The Axapta system is very much extendable, thanks to a ready-made list of highly flexible third-party modules. You can even customize the source and metadata supplied by Microsoft if you want - but we'll suggest against it. Axapta extensions let you create new types of models based on your requirements and needs. You can overlay these extensions on top of the original functionalities. New plugins can also be developed by incorporating third-party hooks into the application suite.
This is the process of copying, and restructuring data from legacy systems to modern Axapta systems. This is often credited as a redundant task and can be crucial to the success of your online e-commerce business. In the case of migrating data from an already existing system to Axapta, you have to identify first the data that you're planning to relocate. Generate the migration template for key components as per requirements and define every necessary archiving procedures before you actually start to migrate data between systems.
All in all, Microsoft Axapta provides a full-fledged commercial software suite that's highly transparent in nature, yet a monolith performer. It is suitable for even the largest businesses, making it capable enough to handle your e-commerce solution. If you have got an already developed online retail that you want to add functionalities to or unlock newer feature sets, we highly encourage you to incorporate Axapta into your ever-growing business.