Microserfin marca un hito con K2B ERP

Soluciones de Microfinanzas S.A. (Microserfin), is an entity that is part of the BBVA Microfinance Foundation, internationally recognized as one of the philanthropic initiatives with the greatest impact in Latin America for its work through its entities in five countries in the region (Panama, Colombia, Chile, Peru and Dominican Republic).

Description

Microserfin was created with the purpose of supporting low-income microentrepreneurs, using a Productive Finance methodology that provides financial services, training and support so that urban and rural microentrepreneurs can progress through the surpluses generated by their productive activities.

“Microserfin went from having 7 branches to 28 in a very short time. It was a very abrupt growth, and this made it necessary to search for a management tool that would be competitive.” Obed Ramea, Microserfin Administration Supervisor

Scope

The project involved the implementation of several K2B ERP modules in order to improve the operational efficiency of the organization: Requisitions, Purchasing, Fixed Assets, Accounts Payable and Treasury.

In addition, the integration of Microserfin’s administrative and financial accounting processes generated by K2B into its Bantotal accounting core was highlighted. In this way, the cohesion and fluidity of the financial processes was strengthened, providing an integral and consolidated vision of all accounting operations.

The implementation of K2B ERP

The implementation of K2B ERP in Microserfin covered the following processes:

• Request for goods and services
• Purchasing Processes
• Receiving process and administration of Microserfin’s goods.
• Management of commercial documents and payment to suppliers.
• Generation of automatic accounting entries.
• Integration with Bantotal Core Banking.

The total solution was implemented in the framework of a 3 and a half month project, which included as main milestones a Master Plan, Design and Configuration, Training, Functional Testing and Validation, Data Migration, Operations Cutover, Production Start-up and Post Production Support.

The work team

We worked synergistically with a mixed multidisciplinary team composed of functional and technical staff, both from K2B and Microserfin, achieving a successful implementation in a few months.

The work team

We worked synergistically with a mixed multidisciplinary team composed of functional and technical staff, both from K2B and Microserfin, achieving a successful implementation in a few months.

Results

• They went from having all the administrative processes in Excels, and then manually uploading the entries in Bantotal, to having all the management and traceability in a single system.
• They were able to automatically make the corresponding accounting entries, integrating them with their core banking system, Bantotal.
• It facilitated the transformation of the organization, the adoption of better and more efficient practices.
• Integration with Bantotal.
• They automatically manage their fixed assets.

“The tool really had a high impact. It is a milestone within Microserfin. It has been months of hard work, but it was really worth the sacrifice. For Microserfin it will always be a before and after to have this tool, which we hope to keep expanding, getting many more modules, and keep growing with it.”

Obed Ramea, Microserfin Administration Supervisor