Dynamics 365: Expense Management and Power BI
Today we will see some news from the point of view of the needs that the management of the organization has of a control at a higher level, be it budgetary, process optimization or merely informative. It is at this point that the concept of Business Intelligence (BI) appears, and to fit with Dynamics as a precision mechanism, Microsoft generates information content with Power BI.
Power BI reports give managers and supervisors the perfect tool for controlling their budgeted expenses. In addition to being able to visualize the trends and to have a general idea of the budgetary evolution, these reports can highlight the exceptions and the outliers, fundamental for the understanding of the situation and the planning of corrective actions, as the case may be.
Thus, concrete cases that need attention are not drowned out by the generality and managers can use their efforts to improving those specific cases without having to devote resources to finding them or, worse, to assume the loses because the effort of locating the cases would outweigh the benefits of correcting them.
The reports also allow the directors to understand the seasonality of expenses by categories or departments, allowing a better prediction of the mismatches between budgeted and actual expenses over time. This knowledge of the seasonality of expenditures makes it possible to predict and control nonlinear spending trends before they pose a problem.
As a form of savings, the knowledge of expense seasonality and trends in each area of the organization makes it possible to negotiate better contracts with recurring suppliers on materials and services. Another benefit of this knowledge is the improvement in the coordination capacity of the entire process, eliminating unnecessary delays.
The knowledge gained from the reports will help managers understand spending patterns and improve future budgets.
From the technical point of view, the reports and the instrumentation are integrated into Power BI, and this way managers can proactively manage their lines of expenses. They will also be able to generate their own reports and KPIs (key performance indicators) without the help of the IT department, having the information that most facilitate their work available at all times.