Navicon внедрил Microsoft Dynamics 365 Finance в BCS Global Markets

2021: Automation of financial accounting

On April 20, 2021, Navicon announced the completion of the BCS Global Markets financial accounting automation project. In four months, thanks to the Microsoft Dynamics 365 Finance cloud platform, as well as a Power BI-based reporting solution, financial reporting processes have been automated throughout the company's offices.

At the end of 2020, BCS Global Markets management decided to implement an ERP system for financial accounting. With its help, the company planned to automate all aspects of non-trading activities, effectively interact with trading systems, thereby automating financial and tax accounting of the group - both at the level of individual companies and for the formation of consolidated statements.

After analyzing several systems, the company chose the Microsoft Dynamics 365 Finance cloud platform as the most appropriate one.

In just three months, IT specialists have deployed an ERP system in the Microsoft cloud and connected three BCS Global Markets offices to it.

During the project, Navicon integrated the solution with the company's trading systems, which allowed BCS Global Markets to issue financial statements both for individual companies and for the group of companies as a whole, in any of three currencies: in transaction currency, in functional and reporting currencies. In turn, the expansion of the set of supported analytical information greatly simplified the preparation of the company's management reports.

Another objective of the project is to provide users with a flexible mechanism to extract the necessary information from available financial data and to present it in an analytical and decision-making format. To do this, the Power BI functionality was used. With this tool, any employee of BCS Global Markets can independently generate the required analytical report or expand the reports intended during the project with the necessary analytics.

For this project, we were looking for a partner with experience in implementing similar solutions from Microsoft in financial institutions. The Navicon team was able to quickly dive into the specifics of our work, understand the peculiarities of business processes and take them into account when implementing the ERP system. The result of our work with Navicon was the launch of the solution into industrial operation in a short time. As of April 2021, we are actively working with Navicon to implement the next stage of the project, which includes expanding integration mechanisms with other systems of our company, as well as considering the introduction of additional functional modules of the system, "comments Elena Basco, project manager, BCS Global Markets.

The project with BCS Global Markets was very important and interesting for us for several reasons. Firstly, in Russia, cloud ERP systems are chosen much less often than abroad, although they have advantages, such as flexibility, faster deployment, and lower infrastructure costs. Secondly, the introduction of the Microsoft cloud solution allows you to use all the capabilities of the Microsoft cloud, from Power BI to artificial intelligence. Using these capabilities allows you to reduce the launch time of the necessary functionality at times, allowing the company to develop more dynamically and receive the associated business advantages, "said Sergey Belsky, project director, Navicon.