RNL Leasing (Prime Finance: FinOffice)

2023: Optimizing the company's financial flows

About the Company

The company RNL Leasing"" is engaged in: leasing cars by order of the client buys the necessary for him transport and rents it to the client. When the lease period ends, the client can buy the cars into the property.

The project was to optimize the company's financial flows.

About the project

What problems did the client face?

The company has already worked with the product 1C: Accounting"." Since accounting leasing is specific, in ": 1C Accounting" there is an add-on for accounting for leasing operations, but the company still had a number of difficulties:

• The payment calendar was compiled manually in Excel tables and in paper version
• Each manager for each customer prepares a separate package of documents based on invoices for payment
• The managers also agreed the accounts manually: they put visas on paper

Solution: To simplify the process of approval of applications for payment, we offered the client a bundle of FinOffice modules: "Treasurer" + "Processes"

Treasury automation

• Installation of a separate FinOffice base;
• Integration with 1C: Accounting;
• Creation of payment orders based on requests;
• Synchronization of directories, contracts, counterparties, bank accounts and cash balances on them.

Setting Up Process Participants' Workplaces

• Access to the database;
• The ability to make an application, see the application, see the approval;
• Set up and route the request approval process electronically.

Implementation: The implementation of the "Treasurer" and "Processes" modules took 35 working days. During this time, the project went through several stages:

• Sprint 1. Installing and Configuring the Program
• Sprint 2. Testing and Refinement of the Solution
• Sprint 3. Employee training
• Sprint 4. Operation in pilot operation mode, testing by the customer
• Sprint 5. Put into commercial operation

Results

What did the customer get?

Digitized process for creating purchase requisitions

• Requests for payment are drawn up and agreed in the program
• Payment registers are formed on the basis of applications
• Cash receipt forecasts are generated based on payment schedules

Automatic generation of payment documents

• Payment documents are generated automatically in "1C: Accounting" on the basis of the requests reflected in the FinOffice

Improve the requisition process

• Manager creates electronic request in FinOffice and can attach all necessary documents to it
• The employee can check if all the necessary papers are collected

Document Approval Process Optimization

• Upon receipt of a request for payment from the manager, the responsible person receives a notification on email
• With this, the agreement can be not just linear, but with the verification of different conditions

Verification of compliance with the conditions when approving documents

• For example, check the settlement limit for a specific counterparty

Automatic generation of payment calendar

• The created request is included in the company's payment calendar
• The CFO sees the payment calendar online, checks the bank account, the balance on it, and throws out applications for payment if the company has several bills

Key improvements:

• The payment management process has become much more transparent
• Time of employees for preparation and approval of documents decreased by 80%
• Errors in the approval of documents decreased by 90%