Standardise and control processes across multiple locations.
Optimised budget management of all projects with financial visibility for all stakeholders.
In a nutshell
Bad communication, no standardised processes, and limited accounting system
Lack of control in their processes
Administration control of endowment funds and other donations programs
96%+ regained time on bank accounts control and on donor & audit report construction
FMCN it’s a nonprofit private institution that its objective is to finance and strengthen strategic activities for the conservation of the natural capital of Mexico. This is achieved through the creation of public – private alliances, learning and co – branding networks, and the development and financing of formulas and innovative projects for the conservation and sustainable use of our natural resources.
The FMCN has two different localities (Mexico City, and Veracruz) but the communication among them was not enough, not good at all. That is why it was so important to have a solution that would allow them to standardize their processes, maximize their resources and reduce the time and effort of the co-workers.
Also, accounting is managed from the central offices in Mexico City, and one of their principles responsibilities is to manage the budget of all the projects that are running and give the financial statements to the donors.
The lack of control in this process showed a big part of the failure and loses in the institution. This problem, the geographical barriers and the limited accountability system where the causative that the same information was being managed in 8 different sources of information, multiplying the work and the accounting and administrative processes.
Tired of operating with these administrative and operational flaws, the FMCN decided to evaluate several options that would let them improve their operation processes and information flows.
“We had already evaluated three different options, but it was a nightmare because we had to invest in infrastructure and the implementation was going to take a lot of time. That is why we decided that LOVIS was the best option; apart from offering more benefits compared to the other options its cloud offer and methodology would also help us to substantially improve the operations.”Ximena Yáñez, CFO
Once the implementation process began, the company had its first barrier in its way to productivity: the resistance to change from the co-workers.
A fundamental piece in order to break the barrier was that the CEO got involved. He boosted his collaborators to forget the old processes and promulgated the LOVIS processes as institutional, achieving an implementation on time and in 19 weeks.
Once the implementation process was finished, the FMCN had a big improvement in all the areas of opportunity that LOVIS had detected since the beginning, for example, being able to monitor the budget and cash flow of each project, which could now be monitored and analyzed online and on real time while perfectly controlling bank accounts and generating financial statements every morning.
Also, with the reduction of effort that LOVIS generated inside the company, it had an impact in another critical areas for the correct operation for:
- Timely decision making
- Easy data extraction
- More time for the analysis of information
- The collaborators can invest more time in the planning and execution of projects
- More transparency for the donors.
- Accountability connected with the corporative accountability which was something they have searched for long time.
- They have automated their financial statements from their daily corporate operation.
In addition to the achievements in operational control LOVIS has given the collaborators of the FMCN a better quality of life. Nowadays the information of both localities (Mexico City and Veracruz) are centralized in one data base, making the information flow, the generation of reports and the online registration easier. Allowing a decrease in the consumption of time in daily activities.