This week Microsoft dropped the plans for this year's 2nd wave and it's time to look at the features I'm most exited about. See the entire list here: 2023 Release Wave 2.
Over the past few years, Microsoft has slowly been improving the multi-company functionality. As a long-time user and supporter of this under-utilized area of Business Central, these changes are much needed and appreciated.
Which brings us to our first improvement: Cross Environment Intercompany Transactions. Company limits and localizations mean today's complex organizational structure and global entities often require multiple environments. While Business Central has long had the ability to transact between versions and environments, it did require extra steps to create emails and/or files which needed to be imported. This new functionality is going to provide a previously missing efficiency in cross-environment transactions.
Up next, more multi-company functionality with: Intercompany Journal Approvals. A sure fire way to reduce the number of errors and audit risk for companies is to implement review and approval processes. Now those multi-entity companies can bring their best practices into the system instead of managing them outside the system with email chains and paper.
To close out the multi-company improvements: Cross Environment Consolidations. Just like our previously mentioned intercompany transactions, consolidations across environments will be many clicks easier. In addition to the efficiencies gained with this ability, companies concerned with SOX compliance can breathe a sigh of relief for at least one critical financial reporting aspect of their business. Direct connection across environments provides a more secure consolidation process as there is no file that can be manipulated between companies.
To say that I'm looking forward to this wave's improvements are an understatement. Will we see companies stay on Business Central longer rather than moving to larger products if their size is driven by company number versus size and transactions of each company? The next few years will be an interesting ride for those growing entities.
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