For years now, the solution implemented in 2010 has ensured the flawless transfer of MTV Ltd’s journals all the way to the financial management application. The most significant improvement has taken place in the working methods of financial service provider’s accountants.
“Aico brings us savings in numerous ways, electronic vouchers being the most important improvement. Certain work phases, such as printing paper journals, mandatory manual approval by an auditor, as well as filing and archiving have disappeared altogether”, says Arja Pennala, MTV Ltd’s financial manager.
The solution has improved working methods at many levels. Among the most significant benefits are the increase of essential information and the ease of finding data.
”In Aico Journals, we can see directly if everyone has processed the journals related to their responsibility area on time. Creating journals is also much easier now when you can select the accounts and other codes used in journal entries from a drop-down list. All journals are archived in the application and they can be easily found using various search criteria.”
Comprehensive general view effortlessly
According to Pennala, Aico Journals offers a comprehensive general view, for example, on the number of journals created in different companies and on the content of the journals.
“Accountants no longer need to remember to reverse journal entries, because there is a specific journal type that automatically takes care of the reversal in the next month. This has significantly decreased the number of journals containing incorrect data.”
The system also allows adding attachments, so other related documents can be stored electronically in the same location and they can be easily found.
”The application deployment in December 2010 went according to the plans, even though not entirely without obstacles. However, a positive aspect was that the problems were addressed and fixed fast. Although we have outsourced our financial functions, the integration to the service provider’s financial management application went well”, Pennala says.
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