March 5, 2021

We transformed the management process for “Banco Central del Paraguay”

After a rigorous selection process, “Banco Central del Paraguay” chose K2B to carry out the implementation of our Government Resource Planning (GRP) solution to automate their accounting, financial, administrative and human resources processes.

The main objective of the project, which has been underway since March 2020, is to implement a management system which fosters a more connected, dynamic and efficient Bank.

The project started by the end of 2019, when, together with CPA Ferrere, we started working with the BCP team. It was there that we presented the multidisciplinary team, which included a project manager, a change management manager, functional leaders and key users.

The scope of the project included Financial Management, Accounting, Human Talent Management, Administrative Management, Purchases and Procurement, and Documentation Management. It is estimated that the implementation of the system will take two years, prioritizing the needs of the organization and the optimization of its resources.

A noteworthy fact is that, ever since March 11th, 2020, the operation has been carried out remotely. This decision was made to look after the health of both BCP employees and the rest of the team.

However, and in spite of the challenge posed by working in a “new normal”, the team adapted their strategy, increased their coordination efforts, and, because of constant communication instances, the project was able to go forward seamlessly.

During this first phase, the record modules (K2B GESDOC) were implemented along with the corresponding Purchase and Procurements and Provider Payment processes (Requests, Purchases, Agreements, Accounts Payable, Treasury). It should be noted that K2B GESDOC is a module transversal to all of the Bank, and, during the first month, more than 1,200 records were added using the new system.

On the other hand, the Purchase and Procurement process starts with the creation of the draft for the Procurement Annual Plan (PREPAC for its acronym in Spanish) and ends with the payment of the invoice presented to the attached Provider, moving through all of the process: from the first call to the acquisition, assignment, control, and tracking of the contract, and the payment to providers.

Finally, two large modules were put into production on February 1st, 2021: Budget and Accounting for the Central Bank.

This milestone is the first step towards a more efficient Bank, optimizing times, human resources, and reducing the use of paper. We replaced 17 systems with a single one, allowing for the integrated management of operations, for more control and transparency regarding processes, thus improving the quality of the information and, subsequently, the decision-making process.

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