Dynamics 365 Wave 1 2022: What’s new?

Microsoft Dynamics 365 is now an integral part of many an IT landscape. The platform offers a versatile portfolio of intelligent Business Applications for the various business units of an enterprise. Microsoft releases two major updates to Dynamics 365 in April and October of each year. These are known as ‘Waves’. In these Waves new features, functionalities and improvements are introduced.

In this article, we’ll tell you more about the first Wave of 2022 and the biggest changes for Dynamics 365 Finance and Supply Chain Management (also known as Finance & Operations). What is changing and what does that mean for you? 

What about updates again?

In terms of updates, Dynamics 365 Finance and Supply Chain Management work slightly differently than other Dynamics products. You are not bound to two major update moments per year. Throughout the year there are several small updates and two major ones (the Waves). As an organization, you decide for yourself which updates are interesting for you.

You are therefore not obliged to purchase updates. Microsoft does have the rule that every customer must update two to eight times a year. Between two updates, you can skip up to three. In this blog you will find more information about Microsoft’s rules and practices regarding updating 365 Finance & Supply Chain Management

On January 25 of this year, Microsoft published the documentation of the first Wave for Dynamics and the Power Platform of 2022. Early access for some of the features in Wave 1 went live on January 31, 2022. The features will be generally available from April 1, 2022.

Dynamics 365 Finance

Let’s start with a brief overview of the most important novelties in Dynamics 365 Finance.

• Create invoice lines based on the quantity option parameter in Vendors. This feature reduces the number of tasks an administrative assistant must perform when he adds additional line items to invoices. By automating the process of adding line items, companies efficiently adapt to changing circumstances with this feature.
• 1099 report revisions for 2021. With this improvement, you comply with the current regulations, which apply to 1099 processing for the 2021 tax year.
• Make invoice numbers longer. This feature makes invoice numbers in “Vendors” longer, giving you more flexibility to customize invoice numbers in ways that better suit the needs of your own organization.
• Ap invoice automation. This feature, which is part of the automation of vendor invoices, saves administrative staff time and also helps reduce errors caused by manual processing.

Dynamics 365 Supply Chain Management

Dynamics 365 Supply Chain Management has also been enriched with a number of interesting improvements. Here are the main ones:

• Share product information across borders. Companies with many legal entities and a large product portfolio (such as large sales and distribution networks) often have to deal with a significant amount of duplicated product data. This feature allows you to share released product data between legal entities, reducing the amount of data to track. At the same time, the maintenance of product master data is simplified.
• Support the planning optimization. Priority-based scheduling prioritizes additional orders so that an urgent request takes priority over less important requests. This allows companies to increase their service levels, maintain less inventory, and prioritize the use of materials provided and available.

This article only deals globally with Finance & Supply Chain Management. For all the information and the new functionalities of the other Dynamics products, we would like to refer you to: https://docs.microsoft.com/en-us/dynamics365-release-plan/2022wave1/.

Managed Applications to help you

Focus Enterprise Solutions is happy to help you get the best out of Dynamics 365 Finance and Supply Chain Management. That is why we offer Managed Applications, which means extra support, even after the implementation.  Our experienced consultants take care of your environment after the implementation. They maintain the knowledge and all possible adjustments that you want to make over time and help with updates.  This way they manage your entire lifecycle management.

You can count on us for support and consultancy on the standard and custom adjustments. In addition, through our Managed Applications you also have access to the best support (premium support) from Microsoft and you get even faster help with incidents in your cloud environment. An important part of the concept of Managed Applications is our Business Continuity Program. This maps the impact of the latest releases from Microsoft for your environment. We test in time and adjust your environment where necessary, so that you can take full advantage of the latest release, and the continuity of your 365 environment is guaranteed.

Want to know more?

Do you have any questions about this article? And do you want to know more about our Managed Applications, and continue to get the best out of Dynamics 365 Finance and Supply Chain Management? Please feel free to contact Focus Enterprise Solutions without obligation.