Volvo Finance Service Vostok LLC: faster work of the back office with a system on 1C:Enterprise

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October 30, 2019

Volvo Group is a world leader on the market of commercial transport. About 100 000 employees work for the company in 18 different countries, and its products are presented in 190 markets.

Volvo Financial Services Vostok is one of the Volvo Group’s activities, engaged in providing financial services on the Russian market since 2003.

In order to reinforce the company’s competitive advantage within the strategy of business growth maintenance, it was decided to integrate into the system software on the 1C:Enterprise platform from the Russian developer Homnet Leasing.

The architecture of the Homnet Leasing 14 solution consists of two information bases that interact with each other through the integration module:

  • regulated accounting and reporting information base
  •  back office information base

Regulated accounting and reporting information base is a software developed by Homnet Leasing on the basis of the out-of-the-box solution 1C:Accounting that serves for the automation of bookkeeping and tax accounting, as well as accounting in compliance with IFRS. It involves the following functional modules:

  • Leasing company accounting
  • IFRS

Back office information base is an industrial solution Homnet Leasing 14 for the managerial accounting in leasing companies. The following functional modules were implemented:

  1. Management of leasing transactions portfolio

  2. Provision management

  3. Reciprocal payment accounting

  4. Leasing items accounting

  5. Payment schedules accounting

  6. Leasing items insurance

  7. Leasing calculator (a tool for calculating and restructuring a leasing transaction)

  8. Customer Service Desk (CSD)

Such a corporate information system was intended for covering the key business processes of lease agreement activity from the moment of their activation, including subsequent administration throughout the validity period, as well as accounting and reporting.

Key project results

1)        The system helped to speed up the transaction formalization and request processing by 2 times

2)        Scaled up business with the same number of personnel

3)        Achieved high system flexibility, compliance with the standards and requirements of the Volvo Group, a unified information space for keeping the data

4)        Increased quality of customer relations

5)        Ensured reliability and transparency of processed and provided data

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