The Largest in Bulgaria, Sofia Ring Mall Utilizes a Dedicated FTS Property Solution - FTS

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Success Story

The Largest in Bulgaria, Sofia Ring Mall Utilizes a Dedicated FTS Property Solution

Key metrics

150 000

sq. m. rental area

40 000

visitors daily

Summary

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. and together with IKEA store forms the biggest retail and entertaining destination in Bulgaria. IKEA and Sofia Ring Mall together are expected to attract about 40,000 visitors daily.

ABOUT THE CHALLENGES AND NEEDS

  • Generation of numerous management reports required preplanned data analytics
  • The process of sending invoices to end customers in accordance with contracts needed to be automated
  • Incorporation of the predevelopment stage in Microsoft Dynamics AX and formation of assets from construction in line with applicable accounting standards

ABOUT THE SOLUTION

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 (now known as Business Central).

In order to meet the specific requirements and scale of the project, the system was upgraded with the specialized vertical solution for property management. The advantages that FTS Property Solution provided 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 email 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.

IMPLEMENTATION RESULTS & BENEFITS

  • Real-time monitoring of budget implementation to predefined requirements in management reports
  • Automated processes for generating and sending reminder emails
  • Optimization of the data entry process and employees’ working time
  • More control and detailed monitoring of accounts receivable by different criteria
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ABOUT SOFIA SOUTH RING MALL

Sofia South Ring Mall, a joint stock company owned by two major investors – FOURLIS GROUP & DANAOS GROUP, is a company, active in the investment, lease and management of the commercial center Sofia Ring Mall.

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