ISM Project: optimisation of the financial management processes

ISM University of Management and Economics (private limited company) is an educational institution providing a range of educational services. The company has two divisions (campuses) located in Vilnius and Kaunas. ISM clients include businesses and individuals.

Initial situation

In order to optimize its operations, the International University of Economics and Management (ISM) has provided for installation of single management system, covering both operational and research management processes. Unfortunately, due to insufficient supplier's resources this two-year project has failed to be completed. In this situation, urgent solution must have been made in order to ensure further successful business of the University.
University management process optimization was entrusted to the "Blue solutions". The company’s professionals have evaluated needs and capabilities of the University, and recommended to choose MS Dynamics AX platform as the basis of IT system. Such solution was also determined by the fact that the University has provided for the use of a wide range of MS SharePoint technologies in its IT strategy.
Development and implementation of the single system, covering various activities of the University, is a complex task, thus it was decided to decompose the problem. The main concern of the client was ineffective financial accounting, thus it was decided to first implement the basic administrative information system covering financial accounting (general ledger, payables, receivables, cash management, interface with the existing education system, and the payroll accounting system).

What is done?

Following a detailed analysis of the situation the "Blue solutions" team carried out optimizing adjustments for ISM business processes and their supporting system, developed and integrated into the system the necessary modules extending functionality.  The following work was provided for and completed:
1.       Implementing of financial procedures;
2.       MS Dynamics AX integration with existing Study system;
3.       MS Dynamics AX integration with Lindorff Debt Management System;
4.       MS Dynamics AX integration with payroll system.
BLUEs Octopus module has been used for the integrations.

Benefit to the client

  • Stable financial accounting system;
  • The base for further development, as projected at the beginning of the project.