Dynamics AX 2012 R3 is the third of Microsoft's four ERP products that the company has made available for hosting on a Windows Server virtual machine on Azure. Like Dynamics GP and Dynamics NAV, Dynamics AX is available on Azure via Microsoft partners, and not directly from Microsoft.
Companion apps for Windows 8 and Windows Phone are part of the Dynamics AX 2012 R3 release, as well. Among the "Modern"/Windows Store deliverables are timesheet, expense, approvals, business analyzer and shop floor apps; the phone apps include time and expense and paystub apps.
Microsoft is continuing to license Dynamics AX using its server plus client-access license (CAL) model. Customers have a choice among four tiers of CALs with options to license by device or user. While Microsoft doesn't publish pricing for Dynamics AX, given it varies considerably by user, officials did note that there will be a price increase for the Server license with the latest release, given the addition of new capabilities.