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Iveco Capital

Iveco Capital
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2012

IVECO Capital Russia (IVECO Capital) is the Russian financial unit of one of the largest European commercial vehicle manufacturers, the Italian concern IVECO Spa. The company was founded in 2003 and provides IVECO truck leasing services in Russia.

1C stopped supporting 1C:Accounting 8 version 1.6 in April 2011. Therefore, IVECO Capital Russia decided to move to the new version of Homnet Leasing 8 software containing the Leasing Company Accounting module, built on the current 1C:Accounting 8 version 2.0. It was also necessary to increase system functionality in terms of management accounting. Having many years of cooperation experience with Homnet Leasing, IVECO Capital Russia decided to start a parallel project for management accounting development and moving to the new accounting system.

A special feature of the project was that new version of the Homnet Leasing 8 solution has a distributed architecture: one database for local and IFRS accounting, and the other for management and operational accounting. The two parts of the system, accounting and operational, are interconnected by an integration module for data exchange. The advantages of this approach are reduced load on the operational accounting system, and the unit requiring regular updates to new versions of the 1C:Accounting configuration was separated into an individual system.

A project for developing management settlements and upgrading local and tax accounting to the new solution began in the middle of 2011. Accordingly, a separate and one of the most challenging tasks of the project was moving accounting data to the new accounting module, in particular, opening balances as of the beginning of 2011, and documentation for January – November of 2011.

The project for moving the system to a distributed architecture included:

  • developing mechanisms for automatic data transfer and validation;
  • regular set-up was implemented for data exchange between the management and accounting parts of the Homnet Leasing 8 system and for management settlements;
  • the Homnet Leasing IFRS module was moved from the management part of the Homnet Leasing 8 system to the Leasing Company Accounting module, and all IFRS data were moved from the management part of the system to the accounting part. The adjustment module for closed periods was embedded;
  • the local accounting system functionality was expanded: item records of fixed assets on the lessee’s balance sheet, and a procedure for fixed asset payback from the lessee’s balance sheet.

The project for implementing management settlements included:

  • a schedule generating functionality was developed for the following stages: contract conclusion and termination, charging, remission and discounting of penalties, and management reconciliation statements;
  • recovery of management settlements was carried out for 4 years of the company's operation.

The system was put into commercial operation in December 2011.

Additional Homnet Leasing 8 functionality development was carried out within the industrial approach and was issued as a new software release. As a result of the project, the information system remained completely standard; therefore, the system can be easily updated, significantly reducing the cost of supporting it. For all matters arising during system operation (including the need for configuration modifications), IVECO Capital Russia staff is linked with a special support service expert. In this way, they do not have to depend on the availability of specialists who previously completed the information system setup during automation projects.

"After seven years of fruitful cooperation, the Homnet Leasing team reaffirmed its professional level. Two large-scale projects were completed in the shortest possible time and practically without interfering in the company’s daily operation. The new system version remained fully standard, and allows us to update rapidly and to expand a functionality systematically by installing new modules," said Tatiana Goncharova, IVECO Capital Russia’s General Director, in commenting on the project results.

2007

Afin Leasing Vostok is the Russian subsidiary of the international corporation Afin Leasing AG, set up by the IVECO concern, one of Europe’s largest manufacturers of transport vehicles. Afin Leasing Vostok was founded in 2003 and provides leasing services and sales of IVECO vehicles in Russia.

Afin Leasing Vostok has been using an integrated information system since 2005. Following a failed attempt at automation using a Western system, the company successfully implemented Homnet Leasing, a specialized solution for leasing companies on a 1C:Enterprise 7.7 platform. However, within a year, owing to an increase in the number of transactions being processed and the need for more in-depth analysis of the company’s activities, the decision was made to shift the company to a 1C:Enterprise 8 platform. The Homnet Leasing solution on the most modern, high-capacity 1C:Enterprise 8 platform was actually the next step in system development. The results of cooperation with Homnet Leasing experts fully met the requirements of Afin Leasing Vostok’s management, and no other suppliers of automation systems for leasing companies were considered.

Implementation of Homnet Leasing 8 continued from July 2006 through July 2007. The lengthy automation period was due to the fact that the project proceeded at the same time as restructuring and split-up of Afin Vostok into two independent organizations — Afin Leasing Vostok and Afin Trade Vostok — which use a single accounting and management system. The following activities were automated in the course of the project:

  • Statutory accounting,
  • Registration of operative data flows with data on the entire range of leased vehicles, which makes it possible to obtain data on composite deliveries in any profiles,
  • IFRS accounting,
  • the full cycle of customer relations (from the customer’s first contact to signing of an agreement, delivery of vehicles, and receipt of lease payments),
  • calculation of leasing schedules using a specially developed lease calculator.

A logistics module and a cession (assignment of right of claim) automation subsystem were additionally developed.

As a result of the project, Homnet Leasing system has been installed at 15 workstations and supports the business processes of all departments of Afin Leasing Vostok.

“Homnet:Leasing 8 system at Afin Leasing Vostok has resulted in the implementation of efficient, maximally automated processes, which minimizes the probability of user errors,” says Oleg Titkov, senior manager responsible for Afin Leasing AG’s Eastern markets. “Thanks to the consolidation of data on the activities of all departments in the system, the company management system has been substantially simplified and improved. The system is reliable and makes it possible to process large amounts of information, which is very important for us, since the company is continuously expanding.”

Jean Durand-Ruel, the General Director of Afin Leasing AG, also rates the results Afin Leasing Vostok’s automation positively: “The level of automation of the Russian office meets the European quality level for automation of leasing operations management. Afin Leasing Vostok is expanding quite rapidly and we believe that Homnet Leasing system is playing an important role in this expansion.”


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