Brief Summary
Balkan Services has implemented key digitalisation projects at Management Financial Group (MFG).
MFG has implemented Lucanet, a specialised CFO solution platform, which the group uses to automate and significantly streamline financial consolidation and planning processes.
Balkan Services has also successfully implemented the Enterpoint ERP solution across 9 companies within the MFG group.
About the company
MFG is a leading fintech and insurance group uniting providers of non-bank financial services in Europe and North America. The company has more than 8,300 employees and associates in over 450 offices in Bulgaria, Ukraine, Romania, Poland, Spain, North Macedonia, Croatia, and Mexico. The group manages a diverse portfolio of businesses, including consumer loans, micro- and small-business financing, credit cards, P2P lending, general insurance, and digital financial products and services.
The Need for new software
As MFG adds more companies, it requires faster, more efficient management and consolidation of financial information to ensure greater reporting reliability.
Additionally, the group needs a unified ERP software to standardise accounting processes across nine companies, provide a common chart of accounts, improve coordination between business lines, and achieve greater operational efficiency amid rapid growth.
Objectives of the Lucanet implementation project
- Automate and accelerate financial consolidation and planning processes;
- Ensure centralised management and consolidation of financial data from all companies;
- Improve the traceability and comparability of intra-group transactions;
- Creating a unified and reliable foundation for management reporting and analysis;
- Facilitating the tracking of key financial indicators (KPIs) by company and business line;
- Standardising accounting processes and working with a unified chart of accounts across nine companies;
- Optimising operational processes and increasing work efficiency;
- Ensuring a flexible and scalable system to support the group’s growth.
ERP Project Objectives
- Covering and standardising processes across nine companies with different business lines;
- Standardising accounting processes and working with a unified chart of accounts;
- Optimising and streamlining key business operations;
- Ensuring centralised and efficient data management;
- Increasing flexibility and opportunities for future system upgrades;
- Supporting a rapidly growing business with a scalable solution.
Solutions
The two software solutions enhance MFG’s financial management and operational efficiency by improving data accuracy, reducing manual tasks, and enabling faster business decisions.
A specialised Lucanet module has also been implemented within the Group, which consolidates and loads company-specific financial data into the system. It enables traceability and comparability of transactions between related parties.
Statistical data integrated into Lucanet supports the creation of company-specific KPIs to measure business performance.
In parallel, Enterpoint ERP has been implemented in nine companies within the group, standardising accounting and operational processes, introducing a unified chart of accounts, and creating a more flexible and efficient business management environment. Together, the two solutions give MFG better control, faster data access, and a stable foundation for sustainable growth.
Results of the Lucanet Implementation
- Simplified and accelerated financial consolidation and management reporting processes;
- Significantly expanded capabilities for financial data analysis;
- Quick comparison of transactions carried out during the year.
- Improved accuracy of financial information and minimisation of errors;
- A single version of the truth;
- Freeing up time for key employees to focus on strategic activities;
- Accelerated and simplified tracking and comparison of financial results across Group companies.
Results of the Enterpoint ERP implementation
- Fast and effective implementation of the ERP solution without delays;
- Optimisation of key business processes;
- Faster start-up of the system;
- Simplified business management through an intuitive interface;
- Support for multi-company operation;
- Easier management of a unified chart of accounts;
- Ability to easily customise and upgrade the system;
- Increased flexibility to meet the needs of a dynamically growing organisation;
- Accelerated business transformation through a well-planned and expertly; implemented solution.
