Global market research agency modernizes project cost calculation

The client

GfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. More than 13,000 market research experts combine their passion with GfK’s long-standing data science experience. This allows GfK to deliver vital global insights matched with local market intelligence from more than 100 countries.

Issues encountered

With the rapid growth and increase in the number of clients, the management of GfK Ukraine needed to quickly assess the importance of each project for the company.
On a global level, GfK is a corporate user of Microsoft Dynamics NAV system. An important factor for the project implementation was to comply with all GfK global standards and requirements without interrupting the production process.

Ways out

To implement the project, the main objectives of the project were defined, which helped the client to achieve the main goal.

Keeping accounting records in accordance with IFRS standards
Keeping managerial and accounting records in a single system.
Financial accounting in accordance with requirements of Ukrainian legislation.
Possibility to estimate cost price of projects.
Analysis of project profitability.
Ability to generate diversified reports.

To solve the tasks set, Innoware implemented the Microsoft Dynamics NAV system, which consisted of the following modules:

management accounting;
accounting and tax accounting;
fixed assets accounting;
purchase management (accounts payable);
sales management (accounts receivable);
projects management.

The outcomes

As a result of the rapid implementation of Microsoft Dynamics NAV, GfK Ukraine received a product for high-quality financial accounting and management. The standard functions of the Microsoft Dynamics NAV system werecouldly comply with the specific norms of management policies used by GfK Group all over the world. This allowed not to make unnecessary modifications to the system and, therefore, reduced the risks of the project and significantly reduced its duration.

What we achieved

Project management of different directions and calculation of their actual cost thanks to the correct distribution of indirect costs and determination of the profitability of the project.
Fast production of different report types

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Our Mission Is to Empower

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Years Microsoft Gold Partner

For over 20 years, Innoware has been transforming enterprises around the globe, optimizing business processes, implementing and supporting ERP and CRM systems for business process management, AZURE cloud solutions, Microsoft 365 for business, and Microsoft Dynamics 365.

Thanks to our unique project methodology we know exactly how to manage complex projects while ensuring high-quality implementation services are delivered to all clients.

Innoware has fulfilled more than 400 ERP projects in the manufacturing, distribution, and retail business. Our implementation management methodology is a key to achieving defined business value depending on business size, operational processes, and business niche.