Microsoft Dynamics NAV in United Capital Partners group

Main objective of the project is business process automation for all legal entities of the UCP group that will allow to simplify significantly preparation of daily operations reports in the company and also will accelerate preparation of the consolidated statements of holding according to the IFRS standards.

United Capital Partners (UCP) is the independent private investment company working with the Russian and international clients. As of January 1, 2010 UCP manages assets which aggregate value exceeds $1 billion.

Main objective of the project is business process automation for all legal entities of the UCP group that will allow to simplify significantly preparation of daily operations reports in the company and also will accelerate preparation of the consolidated statements of holding according to the IFRS standards. During the project a number of important tasks will be solved:

• systematization of data and their reduction to the uniform standard both for the purpose of operational accounting, and for the purpose of preparation of financial statements according to the IFRS standards;
• operational receiving reliable up-to-date data;
• drawing up the consolidated financial and managerial statements of any degree of complexity;
• exception of duplicative functions (the principle of one input will be used);
• simplification of work of personnel on input and information processing;
• optimization of control of financial flows and document flow.

Today accounting reports and treasurer transactions are already automated.

As a result of the implementing solution Treasury developed by WillMore company control of cash flow of group in holding is automated, namely:

• the organization of process of management of cash flows in the company;
• drawing up the daily report on the consolidated monetary position by currencies, accounts, banks and legal entities;
• control of payments;
• calculation of necessary KPIs for acceptance of finance and investment solutions.

Microsoft Dynamics NAV allows to implement and support the transactions necessary for activity of United Capital Partners. In particular:

• loading of currency rates from different sources for automation of accounting of currency transactions;
• automation of daily revaluation of a securities portfolio by unloading of market quotations from an information resource of Bloomberg in the Microsoft Dynamics NAV system).

At the moment the WillMore company implements the block of the transactions "Back Office" for operational accounting of own and client portfolio of securities. These transactions will be unloaded afterwards in ledgers and to be carried on accounts of accounting in the automatic mode that will allow to exclude risk of incorrect unloading of data in case of use of the different systems for the purposes of accounting and transactions of back-office. This solution will also allow to save significantly time by preparation of accounting records as the principle of one input at the level of the module "Back Office" will be implemented. After implementation of all necessary completions reflecting specifics of activity United Capital Partners, the company will have an opportunity to receive on a daily basis reports on own and client portfolio of securities, information on balances in cash, incomplete settlings with partners and also it is essential to save time by preparation of consolidated financial statements according to the IFRS standards. Thanks to this information the management of UCP group will have an opportunity to quickly make investment decisions and to react timely to the arising business risks. "The Russian economy continues to grow and develop including due to the investment attraction. Our market is still rather young in comparison with western, but at the same time it very promptly increases pace. Therefore we should monitor constantly last modifications and react quickly. And it cannot be made without use of the flexible and powerful ERP tool. After market research we stopped the choice on Microsoft Dynamics NAV, and entrusted implementation to consultants of WillMore. A decisive factor their advantage was played by demonstration of an existing solution at the client working in the similar industry. Today the main routine work is already made and it is possible to speak about some outputs. During our cooperation consultants of WillMore proved to be as highly professional experts with profound knowledge in the field of finance and accounting. There are all bases to consider that we were not mistaken with the choice of the partner". Alexander Grigoriev, chief financial officer of United Capital Partners.