Innovation: Lotteries are leading the charge to modernize & connect with Microsoft Dynamics 365
In the 1800’s burgeoning lotteries funded colony activities. This was followed by growth, concern about oversight and corruption, and eventually prohibition to all gambling operations. By the mid-20th century however, the United States witnessed a rebirth of the industry. With the new growth came growing pains and early financial solutions were siloed and data was disconnected. In an age where company data is a top asset, efficiency in the workplace is expected, and ease of use is growing more important, Lotteries understand that finding a one true source solution for their financial needs is critical.
Dynamics 365 is an end-to-end solution that can handle modern day complexities out of the box: global business processes, multiple business entities, commerce, customer portals, supply chain, all of which exist in the secure Azure cloud. In addition, Dynamics 365 leverages and works together with familiar Microsoft products that your organization most likely uses today, including Excel, Word, Outlook, and other Modern Workplace tools.
Dynamics 365 for Lotteries: Feature Overview
Financials and Reporting
Combine massive amounts of data into standard reporting formats with ease. The Power BI dashboards are native and customizable. The data can be sliced in ways that enable users to see what they want, when they want with easy to learn tools for flexible visualization results that can be period specific, look back, look forward or look in real time.
Accounting and Purchasing
Fund Accounting is made easy with breakouts of financial statements by fund dimension. The project module is equipped to handle the complexity of various grants. Streamline RFP, RFI, and procurement with integrated portals that handle sealed or open bids, comparison of responses, contract management, requisitions, and approvals.
Regulation and Compliance
Microsoft’s world class technology carries literally hundreds of certifications, not just GAAP. Everything from data security, auditability logs, operational & financial segregation of duties as well as just about any acronym your faced with. Hundreds are added on a monthly basis, ensuring your organization stays up to date.
Data and AI
With Data Lakes, an organization can “pool” multiple sources of data securely in one data repository for ease of control and access, creating more efficient consumption. Combined with Microsoft’s investment in AI, there are endless opportunities for how data can be used in the future.
D365 Success Story: The Kentucky Lottery
Microsoft Dynamics 365 was viewed as the ideal solution for the Kentucky Lottery Corporation, and Ellipse Solutions was chosen to lead the project. The scope of work included initial requirements gathering, project management, configurations, customizations, integrations, initial data loads, documentation and user training.
Why Microsoft Dynamics 365 for Lotteries?
Dynamics 365 is a flexible and customizable solution that can be adapted to meet the unique needs of state lottery commissions. Designed with security and compliance in mind, Microsoft Dynamics 365 is adheres to a range of Lottery standards and regulations - ensuring sensitive financial data is secure and compliant with relevant regulations.
With continuous updates, Dynamics 365 is always up to date on the latest version at no additional cost of upgrade. This is critical for states that require agencies to use a financial solution that has full support from the issuing software vendor. With the move of most software from an on-premises installation to the cloud, security is an utmost concern, especially for Lottery organizations protecting sensitive data.
Dynamics 365 Business Applications for Lotteries
Utilize world class financial capabilities with built-in predictive analytics and intelligence to set the pace in your industry by enabling better and quicker decision making.