The National Development Bank, Findeter, was created by the central Government in Columbia to finance and promote the development of sustainable infrastructure. It supports both public and private projects by providing rediscount loans, issuing guarantees, managing public funds and facilitating project structuring services. It also supports the regions with comprehensive and sustainable solutions for projects that are focused on the welfare of the local population.
To handle large volumes of funds and the related processes involved, Findeter was using multiple specialised systems provided by different suppliers operating on a mixture of systems architecture and platforms. The organisation wanted to simplify and streamline its technical support structure in order to carry out more efficient processes, reduce administration costs as well as support improved technical integration and maintenance.
Findeter began to search for a flexible, cost-effective and practical solution to meet their needs and address a number of tactical issues, many of which stemmed from the process of unifying data from the various systems and which had even, on occasion, caused financial discrepancies. There was also a need for the business to generate improved, timely information to feed into and aid decision-making.
The new solution would encompass and integrate financial process in the areas of Accounting, Financial, Fixed Assets and Banks. This would also help to produce real-time information, reducing risk and errors, improve controls and ensure that Findeter was fully compliant with Columbian public budget law.