Leveraging IT to enhance competitive advantage
Volvo Group is a world leader at the commercial vehicles market. The company employs about 100,000 people, has manufacturing sites in 18 countries, and is represented at 190 markets. Volvo Financial Services is a provider of financial services in 40 countries of its presence.
The company cares for its customers by providing a very high level of service and demonstrating customer focus. When requesting for financial services, customers enter into a long-term relationship with the financial service solutions provider (average financing term is from 3 to 5 years). A good IT system and its high quality support make it possible to avoid financial losses as a result of human errors as well as to form a positive impression from interaction with the financial institution.
The company made a decision to focus on the IT-based strategy as a key tool for supporting its business development and enhancing the competitive advantage.
In the process of decision making the IT market was carefully studied. As a result of the analysis, the choice was made in favour of the industrial solution Homnet Leasing 14 built on 1C:Enterprise platform.
Having a considerable experience on the market, specialists from Homnet Leasing made an assessment of the project requirements and gave recommendations on what could be done to achieve the primary goals:
Homnet Leasing 14 covers all of the key business processes including support for leasing contracts from the moment of their issue and activation and until termination, plus local accounting and reporting. Product subsystems include:
The ERP solution project was organized and documented in accordance with Volvo Group requirements and approved by the Headquarters of Volvo Financial Services in Carolina, USA. It was taken under special control of the Headquarters through appointed advisors who took part in weekly project management meetings.
To quickly obtain the first results for business and reduce risks, the launch was divided into two stages:
Operation and customer service desk — in 12 months after the functional analysis and development
Operation and collection — in 4 months after the 1st stage
Flexible solution to scale up business and speed up processes
The project was completed on time and within the initially planned budget. Deep integration of the system based on 1C:Enterprise into the company's IT landscape, including interfaces with the international corporate CRM system, the Exchange mail server, and the insurance broker system, helped to minimize manual input and increase transparency.
Considerable results were achieved right after the initial launch:
Related Customer Stories
Optimization of financial planning and cost control with 1C:ERP.
Unification and standardization of business processes by creating a centralized management system based on 1C:Enterprise and 1C:ERP.
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“If you need results do not hesitate to invest into IT projects. Our example is a good answer to the question "Are there any good European level quality solutions?" Don't be afraid of involving colleagues into the process. It will bring really satisfying results.”
COO at Volvo Finance Services Vostok