30 Jul 2014 3 MIN READ

Microsoft Dynamics NAV Implementation at SimCorp

  • Microsoft Dynamics NAV

Danish company SimCorp is a leading software supplier for the largest financial institutions around the world.

Danish company SimCorp is a leading software supplier for the largest financial institutions around the world. During the forty years of the company’s development it managed to become a leader in the sphere. Today more than 160 world financial organizations are SimCorp clients.

The company is represented on the markets of the European countries, North American countries and the countries of the Asia-Pacific region. The number of employees is more than 1100. Total SimCorp revenue in 2009 was 180 million euros.


At first operating activities of the Ukrainian SimCorp subsidiary were carried out in different systems. While the company was gradually developing on the Ukrainian market arose a question about the installation of the system that would create a single information environment for the conduct of financial tasks considering the national legislation.

Microsoft Dynamics NAV was chosen as a corporate standard for all its subsidiaries.

The key objective of the project was to create a single information environment for financial activities and to form complete and accurate reporting promptly.


SimCorp chose SMART business as a localization partner, because it is experienced in the automation on Microsoft Dynamics platform, what is verified by the Microsoft Gold Certified Partner, Microsoft Partner of the year 2008 —2009 in Ukraine (Microsoft Dynamics ERP) statuses.

«We decided to cooperate with SMART business as it has significant experience in the implementation of Microsoft Dynamics products and because its employees are highly qualified».

Alex Matyukhin
Financial director, Ukrainian subsidiary of SimCorp

SMART accounting and Smart Payroll solutions on the Microsoft Dynamics NAV platform were chosen as the most corresponding with the needs of the company.

SMART accounting is a system providing contracts, money and fixed assets accounting, calculation of intangible assets, reserves, bookkeeping and fiscal accounting, reporting formation.

Smart Payroll is a system providing automation of human resources, time management reporting, payroll, staff recruitment and development.

«Offered solutions are powerful and flexible instruments helping in the preparation of consolidated financial reporting, they meet the requirements of the Ukrainian legislation. The solutions noticeably reduce amount of work needed to be done due to the crucial business processes automation».

Kirill Rudnev
Sales Director, SMART business


Due to the implemented solution appeared the opportunity to analyze weak and strong points of the enterprise based on the received full and reliable information about the financial state of the company. Automation of payroll allowed to make information on charges and deductions more detailed and to form reports based on necessary analytical features. Optimization of the routine procedures of storage and HR management documentation circulation allowed to focus on more important tasks, such as staff development in accordance with business objectives of the company.

«This project was very important for our company and for the head office, too. The time needed to prepare financial reporting reduced significantly. Head office management now has the opportunity to analyze our results, because information is displayed in the system in real time».

Alex Matyukhin
Financial director, Ukrainian subsidiary of SimCorp

Additional information

SimCorp is a leading software supplier for the financial institutions. The company is developing comprehensive investment management system called SimCorp Dimension.

For more details on products and services of the company SimCorp please visit the site www.simcorp.com.

SMART business is a rapidly growing consulting company that provides modern solutions for the effective business management, services in the sphere of implementation and development of the business systems by Microsoft company on Microsoft Dynamics platform for the enterprises of different spheres and types of ownership.

For more details on products and services of SMART business company please call +38 (044) 585-35-50 or on the site smart-it.com.