Dynamics NAV accounting documents archiving with EverSuite SharePoint Edition

MIF

MIF decided at the beginning of 2009 to optimize the efficiency of the finance department by implementing an enterprise content management solution that will ensure the dematerialization of accounting records and automate the entire accounting content lifecycle. With its rich set of features, EverSuite SharePoint Edition was the adequate solution for MIF.

Challenges

MIF, a Family-office independent Swiss financial institution, is present in different regions throughout the world such as the United States, Middle-East and Europe…
As a financial institution, MIF is subjected to regular audits, requiring long searches and expensive transfers of documents between Switzerland and local establishments.
This is why the company decided by early 2009, to optimize its finance department efficiency, guaranteeing traceability, and facilitating the internal audit procedures.
Moreover, MIF wanted to secure and ensure instant access to documents and content related to accounting whenever needed, while dematerializing the different pieces related to accounting entries.

Solution Description: EverSuite SharePoint Edition

MIF, as well as the group of companies it is part of, use Microsoft Dynamics NAV as their accounting system.  To reach its objectives, all accounting content generated from accounting entries (transactions, account statements, exchanges…) are scanned and stored in a SharePoint repository, using EverSuite Document Management SharePoint Edition. Accounting documents are therefore attached to accounting transaction records in Dynamics NAV.
Solesteam, EVER TEAM’s partner in Switzerland, has deployed this solution interfacing with Microsoft Dynamics NAV and SharePoint.
The finance department ensures in an operational mode, the streamlined electronic transformation of all accounting pieces. Once all documents are scanned, they are identified with the transaction barcode identifier assigned by Dynamics NAV. These documents are then automatically archived in SharePoint with metadata information fed from the accounting system (account number, currency, amount, document type etc…) then automatically categorized in the filing plan without any manual intervention.

Benefits of the solution

With this solution, the finance department users can directly and seamlessly consult from within Dynamics NAV the corresponding transaction documents, statements or other related documents stored in SharePoint, from the comfort of their business application.
On the other hand, supervisors and managers accessing SharePoint can seamlessly retrieve these documents, and view their related transactions and records data, without having to go to the accounting system on Dynamics NAV.
These users are provided with advanced search interfaces, allowing them to query information with business specific attributes retrieved from the accounting system (account number, currencies, amount, document types…).
Moreover, EverSuite made it possible to provide access to auditors who can easily access documents, necessary for them to complete their missions, from the web browser.
Thus, endless and time consuming searches for paper documents, in addition to the expensive transfers of paper documents between branches due to MIF’s geographical dispersion, were no longer an issue.

About MIF

MIF is an independent and privately-owned family-office financial institution established in Geneva 12 years ago. It has spread its presence throughout the world (USA, Middle East, Europe….).
The team consists of experienced financial consultant serving families, foundations and non-profit organizations, by providing solutions to protect and grow their wealth, while saving time and enjoying total peace of mind.