GN Store Nord A/S Invests in Fintech Solution from SKG Services Europe.
GN Store Nord, the Danish NASDAQ-listed manufacturer of hearing aids and headsets, invests in the banking- and treasury solution from SKG Services Europe to automate and optimize financial operations in their ERP system, Microsoft Dynamics 365.
It was the outlook of less manual work, fewer internal audits and thus more human resources for development that made GN Store Nord want to expand the existing collaboration with the fintech software provider SKG Services Europe.
As the manufacturing giant is growing their international presence, they are entering an extended collaboration with SKG Services Europe to streamline internal operations and automate processes with international banks.
“We’re a very international organization that operates across four continents. That creates advanced banking system capabilities, e.g., handling currency risks, acquisitions of companies as well as handling debt and loans abroad. With the SKG Banking and Treasury Automation Suite, we now get a significantly stronger tool that works on top of our Microsoft Dynamics 365 ERP system. It increases the transparency of our processes, reduces the risk of errors in manual data transfers and creates more efficiency in our organization, says Senior Director, Head of Group Treasury & Insurance at GN, Arne From.
A major reason why GN Store Nord has chosen to expand its collaboration with SKG Services Europe is because they are a certified partner with GN’s existing business platform, Microsoft Dynamics 365. In practice this means that updates from Microsoft are proactively implemented in SKG’s solutions and automatically made ajour, so GN employees no longer must keep an eye on whether changes unfold correctly in several systems -what is usually a sensitive task.
Employees will spend more time on development
Regarding process optimizations, GN assesses the new solution will free up human resources:
“Today our employees spend a lot of time checking and ensuring the quality of our data. Going forward, we can mainly automate this work which will free up additional resources for more important strategic tasks. In the long run, it is neither productive nor beneficial for GN that our highly trained, skilled employees perform manual tasks. Instead, it provides more value for the employees and the entire company that we spend their time on development and value-adding activities, says Arne From.
GN made the decision to convert to the new SKG system in the fourth quarter of 2022. The new solution is expected to be fully implemented in the second quarter of 2023, where the old system will shut down.
About SKG Services Europe
SK Global Software is a certified Microsoft Dynamics ISV offering specialized in Banking and Treasury Automation for the Microsoft Dynamics 365 / Dynamics AX ERP platforms. The solution covers more than 17 unique modules and has +1600 users worldwide.
