Dynamics 365 | Late Payment Predictions in Business Central (Demo)

I want to show you the late payment prediction functionality in Dynamics 365 Business Central. It’s really easy to set up, as it utilizes artificial intelligence to analyze your data and generate predictive models. In this demonstration, we’ll explore how to set it up and examine the results.

Setting Up Prediction Models

Selecting a Model

In Business Central, you have the option to select the model you want to use. A standard model comes with the system, which is based on data from various small and medium-sized businesses. Alternatively, you can create your own model tailored to your specific system, data, and business needs.

Creating Your Own Model

It’s easy to create your own model within Business Central. By analyzing the data in your system, it generates a model that fits your unique requirements. This model predicts the likelihood of open invoices being paid on time or not.

Analyzing Results

Viewing Predictions

After setting up the prediction model, we can examine the results. One way to do this is by navigating to the Role Center for Business Manager, where you’ll find a message indicating invoices predicted to be overdue. By reviewing these predictions, you can anticipate potential payment delays and take proactive measures.

Understanding Prediction Confidence

The system provides confidence levels to its predictions, indicating the reliability of the forecast. Before continuing, it’s essential to understand the confidence level associated with each prediction, which helps in decision-making processes.

Exploring Different Views

Another way to analyze predictions is to access the Customer Ledger Entry screen, where you can view all entries and sort them based on payment predictions. Additionally, Business Central provides an Analyze function that allows for a more detailed examination of payment predictions.

Leveraging Predictive Analytics

Utilizing Predictive Tools

Late payment prediction is just one of three predictive analytics and AI features available in Dynamics 365 Business Central. By leveraging these tools, including inventory forecast and cash flow forecasts, businesses can optimize their operations and improve financial management.

Calculating Payment Predictions

The payment predictions for individual customers and invoices are calculated using various criteria within the system. By understanding these criteria, businesses can better interpret and utilize the predictions to manage accounts receivable effectively.

Conclusion

Optimizing Financial Management

In conclusion, the late payment prediction functionality in Dynamics 365 Business Central offers valuable insights for managing accounts receivable and working capital. By utilizing predictive analytics, businesses can anticipate payment delays, take proactive measures, and optimize their financial processes.