We wish you all a great summer!
It is July and the summer is in full swing and if you have not already gone on holiday, then the summer holidays are surely approaching with rapid steps. For most, it means time with family and friends and not least time to relax and fill up the energy depots.
We at Active Business Solutions hope that all our customers and partners will have a great summer and we look forward to continue the good cooperation after the summer holidays.
On this page, we look back at the past spring, which has unfortunately been marked by the war in Ukraine, high inflation and gloomy prospects for the European and international economy.
Reduced staffing in the office
When summer is upon us, it means that the holiday season is just around the corner and that we, like other companies, have vacation that need to be held. That is why we will be working with reduced staffing for the next few months. This does not mean that you can not get in touch with us, but it does mean that urgent tasks during the holiday period will of course be performed, to the extent and at the pace that is possible.
We were just beginning to sense the end of a long and tough corona crisis when Russia invaded Ukraine, an invasion that has already had major consequences for both the international and European economies.
The Danish and Norwegian economies and to a large extent the European economy in general comes from a strong starting point, but nevertheless the economic development in Europe can be felt by both companies and private individuals. And we are not going to see financial compensation to the extent we saw during the corona crisis.
As private individuals, we already feel it when we shop, refuel our car or when we heat our homes. Companies are already experiencing a decline in order books and rising costs of producing their goods. This trend will almost certainly continue and even worsen in the time to come.
The war in Ukraine slows the growth in the European economy
The spring of 2022 was largely marked by Russia's invasion of Ukraine, which in a short time entailed great human costs for the Ukrainian population and has in a short time become a new, destabilizing factor for the world community and to a large extent also for the international economy. This can be clearly felt throughout Europe, where the war is already having a direct negative effect on the growth of the European economy.
Due to imbalances between supply and demand due to the corona pandemic, there has been rising inflation since the beginning of 2021, primarily driven by the rising energy prices. As societies reopened after the corona shutdowns and energy production picked up again, which in many cases exceeded pre-crisis levels, energy prices rose, and already last autumn and winter electricity and gas prices in particular set new records. Inflation intensified in the spring, and as a result of Russia's invasion of Ukraine, the inflation increased even further.
Rising energy prices
Prices of electricity and natural gas already increased significantly in 2021. The Russian invasion of Ukraine and subsequent sanctions have further weakened the supply of energy and other raw materials, leading to increased supply problems, not least in Europe. We see this being expressed in the form of further, significant price increases for gas, oil and electricity. Economists point out that the consequences of the significant price increases and the rising uncertainty about the further course of the world situation, will be a reduced global consumption and fewer investments. For many production companies, production is tied up in the forms of energy, which means that it will be far more expensive to produce their goods.
What does the future hold?
The future is, of course, difficult to predict, but some economists have tried anyway. It is estimated that the European economy will be significantly affected by less growth in the export markets and higher energy prices. GDP growth this year will be reduced and inflation will increase.
It goes without saying that if, for example, the conflict in Ukraine escalates further and Russia shuts off gas to Europe, we are looking into a completely different and far worse scenario for the future. Conversely, a faster deflection of energy prices and a deescalation of the conflict in Ukraine could create a brighter scenario.
Dynamics 365 2022 Release Wave 1 / Business Central 20
As usual, the first 2022 Release Wave upgrade of the year was rolled out in April, where a new version of Business Central was also launched, this time with version number 20. Improvements in Business Central 20 include a number of improvements to the finance and supply chain functions, so that users of Business Central can execute business processes more efficiently and increase productivity. In addition, the integration with Power Platform has been improved, which for example makes it much easier for business users to set up workflows that match a company's specific needs and requirements in Power Automate.
2022 Release Wave 2 and Business Central 21
Already after the summer holidays, Microsoft will probably release news about the next upgrade waves for Dynamics 365 and Power Platform, which will be rolled out from October 2022. Here, among other things, upgraded versions of Power BI, Power Automate and Dynamics 365 Sales and Business Central 21 will be released. You will of course be able to read more about all this on our news pages.
Finally, once again and with the hope of good weather, we would like to wish all our customers, business partners, employees and their families a fantastic and sunny summer. See you after the summer holidays.
Have a great summer!