The Grand SOFIA RING MALL with a Specialized Solution for Commercial Property Management from FTS Bulgaria

The newest commercial center in Sofia, SOFIA RING MALL, which was officially opened in 2014, is the largest in the country with a total rental area of over 150 000 sq.m. IKEA and SOFIA RING MALL together are expected to attract about 40,000 visitors daily.

The challenges

• Numerous management reports requiring preplanned data analytics.
• The process of sending invoices to end customers needs to be automated.
• Incorporation of the predevelopment stage in AX and formation of assets from construction in line with applicable accounting standards.

The solution

In order to meet the specific requirements and scale of the project, Microsoft Dynamics AX is upgraded with a specialized vertical solution for property management of large commercial centers – PMAx.

The benefits

• Real-time monitoring of budget implementation to predefined requirements in management reports.
• Automated processes for generating and sending reminder letters
• Capabilities for tracking accounts receivable against different criteria.
• Optimization of the data entry process.

After a thorough research of several competitive solutions, the management of SOFIA RING MALL eventually opted for the latest version of the high-end system Microsoft Dynamics AX from FTS Bulgaria. In order to meet the specific requirements and scale of the project, the system was upgraded with the specialized vertical solution for property management of large commercial centers – PMAx.

Among the main challenges that required the selection of an information solution were the need of automatic calculation and sending of invoices to customers in accordance with available contracts, generation of various management reports with preplanned data analytics, optimization of users’ working time, detailed monitoring of accounts receivable, incorporation of the predevelopment stage in AX and formation of assets from construction in line with applicable accounting standards.

The advantages that the selected Microsoft Dynamics AX system provided, upgraded with the vertical solution for property management of large commercial centers PMAx, were real-time monitoring of budget implementation to predefined requirements, fast and accurate calculation of customer invoices against predefined contract terms.

It is also worth mentioning the capabilities for real-time management report generation, automated generation and sending of reminder letters under the individual contracts down to predefined deadlines, monitoring accounts receivable against different criteria, data entry optimization, realization of asset acquisition processes with the analytics necessary for their tracking.

The main benefits of implementing the complete ERP solution in SOFIA RING MALL include: optimization of business processes, precise control of costs, document issuance being automated, real-time data and reports, etc.