VENZO is a digital garage and innovation company, organised as an ecosystem of innovators and expert teams specialising in human-centric digital transformation.
Yield
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Improved management of SKI subcontractors and automated reporting
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Customer dimension solution simplifies reporting
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Streamlining, optimising, and automating the dunning process.
The VENZO Group is a partnership consisting of a number of business units, each incorporated as an independent legal entity.
VENZO has recently transitioned from e-conomic to Microsoft Dynamics 365 Business Central (Business Central). The ERP migration was carried out by another, larger Danish ERP partner and, unfortunately, did not go entirely smoothly.
After nine months of operation, the organisation perceived Business Central as a step backwards compared to e-conomic, viewing it as an overly complex ERP system that required an unnecessary amount of effort. Corpital was contacted to provide a second opinion on whether Business Central truly was as complex and flawed as it seemed.
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"Show me your system," and then we were off.
Corpital and VENZO met to review VENZO’s system architecture and challenges. During the meeting, it was concluded that the system landscape had become unnecessarily complex due to a lack of understanding of VENZO’s business, combined with various quick fixes implemented just to keep daily operations running.
For VENZO to fully benefit from Business Central, we needed to establish the right architecture with clean interfaces, making it possible to simplify processes and thereby eliminate the need for temporary quick fixes.
Furthermore, VENZO handled documents and data multiple times throughout their workflows, requiring extensive subsequent reconciliations to ensure data accuracy. Corpital’s recommendation included revisiting and optimising all processes to ensure that data is captured and processed correctly the first time.
Based on the conclusions of the meeting, it was agreed to test the collaboration through a three-day consultancy trial, during which the technical team worked onsite at VENZO to resolve some of the most critical challenges alongside the VENZO team.
Payment to SKI subcontractors
Every year, the public sector purchases goods and services for approximately DKK 365 billion from private companies. Out of total public procurement, 3% is conducted through SKI framework agreements. VENZO is a public sector supplier, delivering services through SKI.
VENZO used to have many manual processes in connection with the re-invoicing and payment of SKI subcontractors. Reconciling payments involved manually updating Excel spreadsheets and subsequently handling the payments within Business Central.
In close collaboration with key employees at VENZO, Corpital developed a solution where purchase and sales invoices are linked even before posting. Consequently, purchase invoices are automatically released for payment once the customer has paid. This solution reduces both time consumption and errors within VENZO’s finance department.
Reporting to SKI
As a public sector supplier, turnover related to the SKI agreement must be reported on an ongoing basis.
VENZO wanted the required data to be captured naturally within Business Central, allowing these figures to be extracted directly from the system and reported to SKI via a CSV file.
Corpital therefore developed a report that extracts the required information from the various modules in Business Central, generating a file containing the data to be reported to SKI through BC. This significantly reduces the manual workload in the reporting process.
Customer dimension solution simplifies reporting
A key part of VENZO’s reporting relates to customers across multiple levels. VENZO’s challenge was that a significant amount of time was spent generating these reports manually, as the customer link naturally only applied directly to related customer ledger entries and not to all other postings.
Corpital extended Business Central’s standard dimension feature, allowing every single customer to now function as an independent dimension. In practice, this means that whenever a new customer is created, the dimension is automatically added and linked to that specific customer. In other words, there is now a 1:1 dimension for each individual customer. This information is subsequently carried throughout all of Business Central, making it possible to post all entries correctly so that reports can be generated precisely as required.
Streamlining, optimising, and automating the dunning process
Previously, VENZO reminded its customers of overdue payments manually and without a fixed procedure; consequently, VENZO wished to streamline, optimise, and automate the dunning process.
We held a high-level discussion on best practices regarding dunning procedures and reviewed the desired workflows. A number of questions were clarified relating to reminder levels, customer segmentation, fees, interest, and the phrasing of texts.
The entire dunning procedure was initiated, aligned internally within the organisation, and set up in BC in a single day. The dunning process now runs completely smoothly and automatically, saving a significant amount of time, eliminating late payment excuses from customers, and ensuring that VENZO’s customers now generally pay much faster.
References
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