Financeria de Desarrollo Nacional
Major Colombian financial corporation streamlines contract processes to meet service level agreements
Financiera de Desarrollo Nacional improves risk management, compliance and operational efficiency with OpenText Extended ECM for SAP Solutions
The drafting of supplier contracts, with multiple versions, many individuals and departments being involved, numerous reviews and approvals etc., used to take anything up to six months to complete. With OpenText we have now reduced this to typically just five days, a massive efficiency gain.
Challenge
- Paper documents and manual processes caused delays
- Need for a streamlined process that would help manage and mitigate risk
- Former systems lacked efficient supplier documentation handling
Product(s)
- OpenText Extended ECM for SAP® Solutions
- OpenText Intelligent Capture for SAP Solutions
- OpenText Vendor Invoice Management for SAP® Solutions
Value
- Mitigated risk through business process consistency with full audit trails
- Reduced operational costs, eliminating 25% of paper usage
- Facilitated home working during pandemic lockdown with zero paper usage
- Improved operational efficiency with automation, reducing contract drafting from up to six months to five days
About Financeria de Desarrollo Nacional
Financiera de Desarrollo Nacional (FDN), is a unique financial corporation in Colombia, specializing in infrastructure project financing and structuring, benefitting Colombian citizens and local industry. Focused on overcoming gaps in the market, FDN mobilizes financing sources through direct financing and by attracting investment from the private sector and overseas. Large infrastructure projects in areas including road, maritime, energy, education and health have been successfully structured or financed through its activities.