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K2B FÂRO has been launched in Fonplata

An integrated, flexible and cost-efficient solution

 

 

Description

FONPLATA, based in Santa Cruz de la Sierra, is a multilateral organism formed by five countries: Argentina, Bolivia, Brazil, Paraguay and Uruguay. Their main goal is to support the integration of its member countries to achieve a harmonious and inclusive development, within and between the geographic areas of influence in Cuenca del Plata through credit and non-refundable operations in the public sector.

In general terms, FONPLATA’s requirement was to have a flexible and cost-efficient tool to enable the integration, organization and administration of the transactions and data which are used in their financial and administrative processes, including accounting, cash and cash resources, investments, loans, accounts receivable and payable, debts, fixed assets, budget, purchases, human resources and capital.

“We saw that K2B was a very friendly, intuitive and quick tool which would allow us to parameterize in a simple way. In addition, it took a very short time for the K2B employees to be able to understand our problem and adapt their software quickly”, said Daniel Cury, Information Technology Manager for FONPLATA.

 

Scope

With the contract signed with K2B and CPA Ferrere, K2B FÂRO was implemented in only 6 months, and the organization started using the ERP. A second phase included elaborating the loans module with agile methodologies fully integrated to the ERP. This system is used to manage the FONPLATA business and includes all of the operations, which mainly encompasses:

  • Loans – Borrowers

  • Expiration Date Notifications

  • Disbursements

  • Variable Rates – Price Management

  • Repayments – Interests – Commissions

  • Accrual Rates

  • Collections – Debt Calculation Service

  • Information output for the Bank and delivery to the countries

Gabriel Blanco, the Manager for the K2B project, said that “the most important challenge we had was to model everything related to the investment portfolio, and to be able to display debt and loan operations until the modules were not developed. Likewise, we were dealing with the FÂRO version for the first time, which is truly spectacular! There is a before and after in K2B with this new version.

 

Technology and Tools

  • Agile methodologies

  • GXflow (BPM)

  • GAM

  • K2BTools

 

Results

  • Integration of all of the different systems and platforms in the “financial core”.

  • Automatic accounting: operations and accounting simultaneously.

  • Reliable and timely information.

  • Elimination of record duplication.

  • Improvements in both the operational efficiency and the environment control.

 

We invite you to see more information in the following video:

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