Updated: Jul 29, 2021
FYI: Microsoft Dynamics 365 for Financials has been rebranded into Microsoft Dynamics 365 Business Central.
Microsoft Dynamics 365 for Financials will offer the full functionality of the regular Dynamics NAV by the end of the year!
Until the functionality update take effect, if you signed up for Dynamics 365 for Financials you will only receive limited functionalities for within the Dynamics NAV product. The area available are mainly in the finance and order fulfillment areas.
After the update, which is promised to be by the end of the year, you will receive the full functionality as if you purchased Dynamics NAV. This includes manufacturing and WMS functionalities.
What will be the difference?
This is the first question that everyone will ask. Why does my company want to purchase a full Dynamics NAV license instead of just signing up for Dynamics 365 for Financials?
The answers is Customization.
For Dynamics 365, the way to "customize" what's available out of the box is to implement extensions available from the Microsoft AppSource. This means that if you need a one-off change because you provide a differentiating service than your competitors, you will need a work around.
Whereas if you purchased Dynamics NAV product, you will be able to make these types of changes.
Extensions for Dynamics NAV (and Dynamics 365 for Financials) is ever changing. With each release, Microsoft introduces new features and expanding on the previous release. So it's tough to say whether the paths for Dynamics 365 for Financials and Dynamics NAV will truly converge.
I'm just glad the customers do not have to sign up for the complex Azure infrastructure if they want their solution to be truly on the cloud.