FRACTAL implements consolidated treasury with IT-Enterprise, achieves annual savings of UAH 1.7 mln
The FRACTAL Group of Companies (formerly Netpeak Group), together with the Ukrainian IT company IT-Enterprise, implemented a consolidated treasury system that manages all financial transactions, and integrates with international payment systems and banks around the world. The system allows for approximately UAH 1.65 million ($40,000) in savings per year due to process automation.
"It is important for us to have a real-time, consolidated view of the entire group’s finances. For this reason, we have implemented a consolidated treasury based on IT-Enterprise’s ERP system, which allows us to centrally manage all cash flows and reconcile payments," Artem Borodatiuk, founder of the FRACTAL group of companies, said in a press release.
The release notes that implementing the consolidated treasury made it possible to create a process that tracks payments from application to confirmation and report generation.
"Our task is to provide clients with stable and effective automation products. Now, anyone who submits a payment request can see its status in real time, from submission to payment," says Oleh Scherbatenko, the CEO and founder of IT-Enterprise.
The FRACTAL group of companies unites 25 businesses in various areas: venture builders – Kiss My Apps and Tonti Laguna Group; a group of digital agencies – Netpeak Agencies Group; a group of social projects – 31 Group; SaaS companies – Serpstat, Ringostat, AcademyOcean, and Finerd; consulting companies – Netpeak Core, Netpeak Talent, and Netpeak New; a digital marketing agency – Inweb; and a career development company in the digital sphere, Choice 31.
FRACTAL declares its goal to increase the total income of the group to 1% of Ukraine’s GDP.
The Ukrainian IT product company IT-Enterprise carries out digital transformation of the real sector of the economy. Among its clients are Interpipe, Nibulon, DTEK, Public Broadcasting, the Come back Alive Foundation, Raiffeisen Bank, Ukrnafta, Ukrzaliznytsia and others. The IT company has been operating on the market for over 35 years.