Less Manual Work and Enhancing Financial Management with a New Cloud-Based Solution
Hekotek is an internationally recognized designer and manufacturer of technology equipment for the timber industry and bioenergy sector. Founded in 1992, Hekotek now employs 115 employees.
In 2009, Hekotek was faced with the need to upgrade its ERP system. The previously self-developed solution, Hekman, could no longer support the growth of the company and needed to be replaced with more scalable business software.
The goal was to find a better solution that is faster, scalable and convenient to use.
The reason for considering a business-critical decision such as ERP software replacement, was the exhaustion of the self-developed ERP Hekman. As the company’s ambitions grew, limitations became more evident; the old software served mainly for reporting, lacking the functionality needed to support rapid growth.
So, they decided to implement the Microsoft Dynamics AX 2009 solution, which is essentially the predecessor for Dynamics 365 Finance & Operations (FO).
In 2020, Hekotek made a forward-looking decision to transition to a modern cloud-based solution. Since Hekotek was already familiar with AX 2009, it was convenient to continue with the Microsoft Dynamics product family, making Microsoft Dynamics 365 FO their first choice.
The goal
The goal of the project was to move to a cloud-based solution, in the first stage, and create a basis for a new leap in growth and development.
Main benefits
Hekotek’s accountant, Tiina Jõeveer, highlights several improvements from this implementation on the financial side:
- Together with FO, the FO-integrated purchase invoice management program Envoice was introduced, and the processing of purchase invoices became faster.
- The introduction of e-invoices (both purchase and sales invoices).
- Automation of banking transactions (banking interface, automatic reconciliation of bank statements).
- All modules are integrated with the ledger.
Hekotek’s development project demonstrates how Dynamics 365 FO can help companies optimize their financial processes and create a more comprehensive and efficient business software ecosystem. The development process is still underway, and several of the features that the company’s employees were using in the older AX 2009 are still waiting to be transferred to the new solution. In the future, the manufacturing company could also adopt other of Microsoft’s newest solutions.
OIXIO Group