FLOCK Specialty Finance Counts on its Flexible Microsoft Dynamics Solution
Company Size
11-200
Region
- America
Country
- United States
Product
- Microsoft Dynamics 365 Business Central
- Microsoft Office 365
- Power BI
- SharePoint
Tech Stack
- Cloud-based Financial Management
- Microsoft Excel Integration
- Power BI Dashboards
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Visualization
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Quality Assurance
Services
- System Integration
- Training
About The Customer
FLOCK Finance is a specialty finance company based in Atlanta, Georgia, that provides access to capital outside the traditional banking system. The company has expertise in mitigating risks associated with underserved markets and asset classes, allowing it to fund areas where traditional capital sources are unwilling to extend credit. FLOCK’s proprietary funding solutions are based on the projected value of a portfolio’s anticipated liquidation over time. Since its founding in 2009, FLOCK has funded over 675 transactions for over $13 billion in consumer receivables. The company has grown significantly and required a more robust financial management system to support its operations and investor requirements.
The Challenge
FLOCK Specialty Finance was outgrowing QuickBooks for financial management and received pressure from potential investors to manage portfolios with a more robust, secure, cloud-based solution. The company faced challenges with limited logins, potential data loss, and the need for a more sophisticated system to handle its growing number of financial portfolios. Additionally, FLOCK needed a solution that could integrate seamlessly with its existing Microsoft Office 365 and SharePoint systems, and provide better financial control and streamlined portfolio management.
The Solution
FLOCK selected Microsoft Dynamics 365 Business Central to gain better financial control and streamline portfolio management. The implementation began in December and was completed within five months, despite year-end audits and closing activities. The new system allowed FLOCK to reduce its number of general ledger accounts significantly, utilizing dimensions within Dynamics 365 to manage each portfolio. This provided a rich opportunity for analysis without creating a complicated chart of accounts. The sales journal feature within Dynamics 365 also saved time by allowing quick adjustments to vendor or customer balances without needing formatted documents. Additionally, the cloud-based nature of Dynamics 365 provided security and remote work capabilities, enabling the entire team to log in simultaneously and eliminating concerns about data loss due to hardware failure.
Operational Impact
Quantitative Benefit
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