07.08.2018

Development of the Microsoft Dynamics NAV for automation of treasury processes

Consyst Business Group has completed the automation project in a number of functional blocks of the treasury based on Microsoft Dynamics NAV in Hoffmann Professional Tool Ltd. The implemented solution at times increased the speed of the documentation movement and allowed the company's financial service to abandon the internal paperwork.

 

Hoffmann Group is a German supplier of professional tools and equipment for the industry. The company began its activities with a small family business in 1919. Currently, the group is represented in more than 50 countries around the world. More than 20 German suppliers of professional tools and equipment for the branch industry have been opened in Russia. Product catalog Hoffmann Group has about 40 thousand names of cutting, clamping, measuring, grinding and hand tools, furniture and inventories, including own brands – GARANT and HOLEX.

Consyst Business Group and the Russian subdivision of Hoffmann Professional Tool Ltd. have been working for many years in the direction of optimizing business processes. Experts of Consyst Business Group have implemented and are developing the ERP system of Microsoft Dynamics NAV. Within the framework of development, it was decided to automate a number of functional blocks of the “Treasury”, in particular, document circulation of applications for payment and expenses. At the same time, development from scratch was not required for most of tasks: Consyst Business Group offered a ready-made solution that met the customer’s requirements. This significantly affected the cost of the whole project. Updates were required only in part of requests for expenditure in connection with the specifics of business processes of Hoffmann Professional Tool Ltd.

Thanks to the implementation of new functionality, communication between the company’s divisions located in different cities has improved, the processes with the coordination of financial documents have been facilitated. Now employees of Hoffmann can automatically submit and approve applications for payment and expenses through the ERP system, check their compliance with the budget. In addition to this, the automation touched the formation of the budget for the movement of funds for the calendar year and the execution of applications for payment and expenditure.

As a result of the project, Hoffmann optimized the work of the accounting department in the processing of bank statements, creating payment orders and carrying out cost accounting operations. An additional advantage of the implementation was the automation of the process for writing off expenses. This allows you to clearly follow the rules regarding the spacing of expenses by cost objects and cost centers adopted by the company and promptly coordinate them with the financial service.

Dmitry Shutov, Financial Director of Hoffmann Professional Tool Ltd.:
“The need to automate internal workflow is long overdue. During the year, we tried to find a ready-made solution that automates the workflow and is not connected with our ERP system, but could not decide. All the software products considered were either too bulky for us, or did not meet our business processes, and besides they were quite expensive. After a year of unsuccessful searches, we turned to our long-time partner Consyst Business Group to help us solve this issue. The specialists of Consyst Business Group suggested to consider the “Treasury” module for Microsoft Dynamics NAV developed by them, and it fully met our needs. The implementation was, as always, at the highest professional level”.
Ekaterina Nesterova, Project Manager of Consyst Business Group:
“Our decision to automate the treasury has been successfully tested already in many companies. A similar project in the Hoffmann company was the continuation of a long-term, almost 10-year, cooperation. It is important to note that the customer clearly formulated the requirements for the functional. This helped in a timely manner to make the correct configuration of the module “Treasury” and carry out the necessary improvements related to the specifics of Hoffmann Professional Tool Ltd”.


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