BORICA AD is at the basis of the technological infrastructure of the payment industry in Bulgaria. The company responds best to the needs of banks for modern and innovative technological solutions for the benefit of their final customers.
Electronic services for final customers – Qualified Electronic Signature (QES) B-Trust and Cloud Qualified Electronic Signature (CQES) B-Trust, electronic invoice E-faktura, Cash-M ATM money transfers and others play a predominant role in the portfolio of the company.
For more than 30 years, the company has been a leader in providing services for the financial sector and a trusted partner for banks and businesses.
In partnership with FTS Bulgaria, the following projects were implemented in BORICA AD with the Microsoft Dynamics AX ERP system and the Power BI business analysis tool:
• Structuring and formalizing business processes in the organization and using a centralized system
Given the many systems used by BORICA in the Company’s core business, it was necessary to summarize the information in a single software. Again, the need for centralized maintenance of the nomenclature of the services offered, as well as achieving flexible price and pricing policy management was also required.
Technical connectivity – due to specific security policies, the system is in an isolated environment and requires specific integration with other systems. In connection with these specific policies, the most automated solution for integration with BORICA’s internal systems has been implemented. The monthly invoicing process has been automated, with the results being the facilitated issuance of a great number of invoices – over 700 invoices in one day, as well as the facilitated sending of a great number of invoices to the e-faktura platform.
Daily integration with the B-Trust internal electronic signature system has been implemented.
Automation of the process of closing payments and invoices and reconciling bank statements has been implemented, both through the import of statements from Infobank and through various mechanisms for payment and invoice recognition and reconciliation.
• Improving operational and financial reporting
New Business Activity Benchmarks have been defined and maintained, and rules for their use and redistribution possibilities have been configured. Budgeting, budget control (at the purchase level) and tracking have been implemented, as well as automation and traceability of the entire request and purchase process. Policies, rules and levels of approval, timely notifications and approvals have been defined.
• Project and resource management
With the help of Microsoft Dynamics AX functionalities, project managers can plan project tasks and manage deadlines for stage completion. More flexible and timely operational resource management is carried out by keeping an up-to-date schedule for staff bookings for each project. Integration has been implemented with the HR system for synchronization of the planned absences of employees with the schedule of unbooked / booked resources. During absence, all approvals are automatically redirected to the alternate.
Time recording /timesheets/ by employees working on projects and specific tasks has been facilitated by the use of a self-service portal. Stricter control of timesheets is ensured by setting down rules for the types of projects and tasks on which each employee can record their hours of work. Through the system of rules and levels of approval, managers of different business units and departments within the organization have control over the recorded hours of work on their projects. The hierarchical structure of the projects allows for a different perspective for the analysis of the work performed and the comparison between the budget and project implementation.
• Power BI – Business Analyses for project and resource management
With the help of Power BI top management, BORICA AD has timely information on the number and type of hours registered, project revenues and costs. The control of missing hours and hours in approval has been facilitated, reports with up-to-date data are quickly generated for management boards.
We congratulate BORICA AD for their 30th anniversary and heartily wish them motivation for new successes, inspiration for new services and ambition for new projects! FTS Bulgaria team
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