Success Stories - Agricover
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Agricover achieves operational efficiencies thanks to the introduction of a responsive and highly integrated business solutions platform.
Leading group of companies in the agricultural sector improves performance metrics and increases speed to market allowing it to cast a wider net.
Increased Operational Efficiency, reduced associated costs, itncreased transparency
BPM-driven business processes that manage all key steps and resources
Greater speed to market for new product types and market segments
In order to continue to respond quickly and efficiently to an ever-increasing volume of customers, we have been focusing on projects aimed at digitising and automating our operations to streamline lending processes. The new loans SAP solution, covering everything related to contract and collateral management, including accounting and comprehensive reports development, has significantly increased agility in developing new products and responding to farmers' needs.
Oana Tătar
Deputy CEO Agricover Credit IFN
Agricover reinvigorates its core business offering through SAP and Noema expertise
Agricover is a major player in Romanian agriculture, with its financing subsidiary ranking as the country's 3rd largest non-banking financial institution. Over the past 20 years, Agricover has developed an innovative business model. Through a visionary approach to agriculture, the company strives to improve the performance of the entire field and generate social prosperity at scale by adopting modern digital ecosystems and the latest digital technologies in the service of its clients.
The Challenge
Agricover's aspirations were dampened by its aging IT infrastructure and limited ability to iterate on the back of its systems quickly. As a result, it suffered in terms of:
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Speed - monthly closing processes took too long (with some of them running overnight, limiting the growth possibilities for the portfolio) - Connectivity & interfaces – difficult to support; attempts to integrate new interfaces, such as APIs, required an ERP version upgrade and extensive development time.
- Slow bug -fixing and support for day-to-day operations.
- Reliability - due to unreliable support, the need to develop new products and stay competitive was challenged.
The Solution
Agricover adopted SAP ERP (implemented by NTT Data Romania) while specialist Noema Consulting provided the Loans Servicing solution:
- The solution delivered is easy to use, placing priority on user engagement and step-by-step guidance.
- The new solution significantly increased agility in developing new products and responding to market needs.
- Significant support for process automation and data-validations.
- Reporting, both ad-hoc as well as regulatory compliance, has significantly improved.
- Manual end-of-month processes have been eliminated.
The Implementation
Thanks to the extensive experience in the delivery of similar projects, the implementation team managed the whole process with a minimum of disruption for the client:
- Migration of legacy data: The migration was contacted efficiently and speedily, with all the legacy data moved to the new data structures.
- End User Training: Noema trained all Agricover users in their respective roles, while some of the users were trained in all roles due to the nature of their work in Agricover.
- Overall Operation efficiency: Operations and Reporting have realised considerable efficiency gains. The next steps agreed upon between Agricover and Noema will bring additional enhancements to make the operations side much smoother and more transparent.