Operational Financial Planning App: Simplifying Invoicing and Improving Efficiency
Overview
Acrontum developed an Operational Financial Planning (OFP) application to make the complex approval process for incoming invoices of a corporate department more transparent and easier. The invoices from countless suppliers had to be checked accordingly and booked against the available budget. In doing so, the application solution automated central tasks and integrated into existing systems and processes to improve both security and efficiency.
Client need
The client needed a solution to handle manual, error-prone invoicing processes for hundreds of suppliers, which consumed too much staff time and thuus valuable resources.
Highlight
The team was able to deliver an MVP (Minimum Viable Product) for operational financial planning in just three months, significantly optimizing the process for the client.
Solution built
Through an application that centralizes and automates the approval process for incoming invoices, information for operational financial planning is transparently presented.
Services Used
Stakeholder Analysis, Requirements Elicitation, Solution Conceptualization, Strategic Planning, Security Conceptualization, Web Application Development, Back-End Systems, API Development and Integration
Client Situation
Approach
Outcome
Client Situation
To manage the multitude of incoming invoices, including their approvals and releases, the client relied on classic spreadsheets. Due to a lack of a permissions system and single-user access, this became a bottleneck for the incoming volume of documents.
Approach
Acrontum partnered closely with the client to thoroughly understand the financial management process they were following. The acrontum team identified the challenges they were facing as well as their needs. Following a collaborative solution proposal and approval, a fully functional MVP was delivered within three months. The application was designed to integrate with the client’s existing SAP system, ensuring compatibility and extended functionality. This development process aimed to create a robust and scalable solution that could adapt to the client’s evolving requirements.
Outcome
The OFP application centralized and automated invoice approval processes, improving efficiency and security right away. This allowed the team to refocus on more strategic tasks, as manual work was reduced, thereby strengthening and enhancing relationships with suppliers.
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