Benefits DynaRent Adds to Dynamics 365 F&SCM as a Rental Software

There’s no news that leasing companies are adopting technology and software solutions to maintain extensive leasing operations – from the time a rental piece of equipment leaves the warehouse or workshop to the point when it’s back ready to be rented again.

To support this drive for technology, we at To-Improvement specialize in empowerment rental companies To automate their operations by providing leasing functionality built on the Microsoft Dynamics 365 platform such as Enterprise Resource Planning (ERP).

While interacting with thousands of customers over the course of 16 years, we’ve met many leasing companies that are keen to invest in our leasing solution but are first interested in understanding how it adds value to a Standard Dynamics 365 Finance and Supply Chain Management (formerly known as Microsoft Dynamics 365 Finance) solution. & Operations).

In this article, you’ll discover the benefits you can gain from our built-in ERP leasing software and the idea behind our leasing solution.

Before we get into the leasing program value details, let’s take a quick look at the ERP – Microsoft Dynamics 365 we’re discussing.

What is Microsoft Dynamics 365 Finance and Supply Chain Management?

Microsoft Dynamics 365 is an ERP software application used by many companies to manage and integrate business finance, supply chain, operations, human resources, etc. into a unified database. It allows a company to efficiently manage and integrate different parts of its business into a single system.

Within the Dynamics 365 environment, several products are offered, some of which are in To-Leverage, which are:

Some of the processes that Standard Dynamics 365 Finance and Supply Chain Management (F & SCM) can support are improved financial planning, process automation, faster billing, rapid planning, effective inventory management, and a centralized location for storing information.

What benefits does the leasing program bring to Standard Dynamics 365 F & SCM?

With the large number of capabilities that a standard solution can provide, you must be wondering: “This sounds great; why can’t I just use the standard Microsoft Dynamics 365 F & SCM solution for my rentals?”

The answer is simple – the Standard Dynamics 365 F & SCM solution does not support leases.

To understand this a bit more, let’s compare the rental process to the wholesaling process. The biggest difference between the wholesaling and leasing industry is – when you sell a product in the wholesale industry, you get the revenue, and the business process is short, because it’s like a one-time transaction. However, in the rental business, you rent a product and expect to return it after a certain period. This product or device will be rented multiple times, and each time, it will follow a certain cycle before it is ready to be rented again.

Here you can see an overview of what a typical rental process would look like, and the different stages that one piece of equipment generally follows:
An overview of the different stages in a typical rental process include lease, lease, workshop, and turnkey lease.

While the Microsoft Dynamics 365 F & SCM standard is a great out-of-the-box solution for businesses in wholesale, manufacturing, finance, inventory or project management, it cannot meet the needs of a rental business.

The standard solution by itself does not support leasing-specific processes such as equipment handling, rental invoicing, maintenance, parts forecasting, servicing, repair and rental amortization, all of which are important insights for anyone in the leasing business.

These unique needs call for a rental business solution, where you can efficiently rent, track, return, repair and maintain your rental fleet, in a unified platform – and the rental functionality built on the Dynamics 365 platform can rightly address this.

Leasing companies can take advantage of this solution by putting their standard processes in place, which are managed by a Standard Dynamics 365 F & SCM solution, catering to their leasing needs, and combining the functionality available in both solutions to improve the overall business process flow.

Spreading the same concept, we at To-India have designed a rental solution – DynaRent. We use the existing functionality available in Dynamics 365 F & SCM as much as possible, such as master planningInventory, resource planning, project management and then adding a leasing solution.

With the DynaRent solution, you can combine the functionality of both – the standard solution and the rental solution, for a complete management Rental life cycle Easily.

Guaranteed DynaRent benefits included with Dynamics 365 F & SCM:

In addition to what we discussed before, there are a few key advantages of choosing a rental solution like DynaRent built in the standard Dynamics 365 environment:

Target focus on rental operations: Since the standard solution takes care of all financial and supply chain operations, you can focus only on a more relevant part of your entire business process – the leasing part. This results in a fast development process, unlike other ISVs who may have to evaluate all software components.

Ongoing updates: Rental solution is Continuously updated In line with Microsoft’s release schedule, ensuring the integrity of customer data. Your software system will always be running the latest version of the software solution.

Legislation support and Emiratisation: The Microsoft standard covers compliance in over 43 countries and supports 48 languages, making meeting any tax regulations easier. Most changes in legislation can be reused in DynaRent, which means that DynaRent customers do not have to worry about whether or not they can meet local requirements (eg changes in VAT).

Ease of embedding: If you are currently using Microsoft Dynamics 365 as an ERP (already have a Dynamics 365 license), you can easily add DynaRent to your solution using similar principles. It is fully compatible with the full Microsoft Dynamics 365 strategy.

Fast scaling: Customers who use DynaRent with Standard Dynamics 365 F & SCM can use other components of Dynamics 365. For example, you can use Microsoft Power Apps to add a rental solution, such as Mobility, or create an app of your choice.

Take advantage of the full potential of the cloud: With DynaRent, you can take advantage of all the capabilities of Azure without any additional payments for your Azure subscriptions. This is because Dynamics 365 is a full cloud solution hosted in Azure, and this feature can be extended to a DynaRent solution.

Coherent user experience: Because the DynaRent solution is completely built into the Dynamics 365 software environment, no interface is required, which reduces back-and-forth transitions between the two solutions.

How DynaRent is seamlessly integrated into Dynamics 365 F & SCM

To be able to design and deliver a flexible and stable solution, we used the Dynamics 365 Finance and Supply Chain Management functions, which are ideal for an end-to-end solution that handles the end-to-end operations of the leasing business.

Because DynaRent is built on Microsoft Dynamics 365 as the standard ERP, it takes advantage of all the functionality and capabilities of a standard solution.

What does it mean?

This means that DynaRent has the same look and feel as the standard solution, and Microsoft Dynamics 365 tools are used to make the DynaRent solution more specific to rental operations. This is useful as it avoids the hassle of constantly switching between two different software systems, saving time and effort.

Simply put, DynaRent is a solution built on top of the standard solution and only serves as another module within Dynamics 365. It’s fully embedded and tightly interwoven into the Dynamics 365 environment, and we take care of the entire inclusion process.

Also, DynaRent is written in the same code that Microsoft uses to write its core products. All of this is handled efficiently in the background to provide a seamless experience for rental customers, so that you won’t discover the difference between a standard solution and a rental app.

Here you can visually understand how DynaRent benefits from Standard Dynamics 365 F & SCM modules:

DynaRent connects to standard Dynamics 365 finance and supply chain management and integrates seamlessly into Dynamics 365.

DynaRent’s suite of solutions is the rental segment, which includes asset Management, rental management, service management, mobile, transportation management, and business intelligence, to name a few.

Some of the functionality that is part of a standard Microsoft Dynamics 365 F & SCM solution: finance, accounts payable, accounts receivable, warehouse management, project management, manufacturing and assembly, human resource management (HRM), and fixed assets.

With DynaRent you will be able to experience the following, which is identical to Standard Dynamics 365 F & SCM:

  • User Experience

  • fields

  • Commercial Operations

  • user interface

  • Look at the screens

  • general planning

  • Database

  • tables

  • Dimensions

  • Financial preparation

Seamless inclusion paired with security compliance indicates transparency within the system, and all your data will be in the same location.

In the end, DynaRent is built following best practices and in-house Quality Guidelines, which have been tested and approved by Microsoft, making them a Microsoft Dynamics 365 certified solution.

Is DynaRent the Right Rental Solution for You?

While we firmly believe that DynaRent can excel as a software solution for rental companies, you should evaluate whether or not it is right for you.

If you are a rental company aiming to develop the game with rental software that has all the capabilities of the Microsoft Dynamics 365 F & SCM standard and more, then DynaRent might be the right choice for you.

The next step for you might be to explore the specific features that your DynaRent solution has to offer, so you can learn how to manage your rentals with our solution.

You can check out our DynaRent solution factsheet, which will provide you with useful information such as:

Key industries that the solution can support
Specific solution features that can take care of your rental needs

This will enable you to decide today on the rental program that best suits your business.

Curious to discover how a DynaRent solution can transform your rental business? Read our fact sheet now!

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