Provide a new corporate asset tracking system that was mirrored on another physical site to act as a trans-Atlantic Disaster Recovery (DR) backup system to allow reports on all assets in the event that any unforeseen catastrophic loss occurred at either site

To change over from the existing manual and disconnected existing process’s and implement a full command and control system recording all company purchases in a central database

To provide a web–based electronic audit trail of line-management approvals and sign-offs and to allow for multiple approvals, requisition entry and goods receiving on the company Intranet

To provide accurate multi-currency financial reporting, project costing, cost code-split analysis and accruals

To interactively pass purchase and invoice data to Oracle Financials and to receive payment information back from it so original budgeted figures could be monitored against actual cashflows.

Initially the system was to be implemented in both London and New York and cross-connected as mirrors of each other for the DR backup.

Working closely with the clients project management team in both London and New York, Mikrofax took their existing Buyers Assistant ™ suite of eProcurement software and redeveloped it to design a client specific "closed-loop" procurement system using existing client company IT infrastructure to meet all the main 5 objectives listed above; This required the client to develop new methods of operation with respect to the capture of its requisitions, its electronic order placement, its invoice payment and its financial reporting through to senior management.

Additionally the business also required provision of custom financial reports to pull-off ad-hoc database enquiries with on-line good receiving and a comprehensive invoice-matching system that would eventually feed Oracle nightly raw data ensuring that suppliers were paid on time.

New systems were built by Mikrofax to utilize the corporate intranet and existing MS-Exchange system to ensure all decision makers were in the loop when any financial approvals were required. The system affected many key areas of the business from data-entry clerks, to line-management to senior VP’s in the business who could now have access to accurate financials e.g. Accruals reports, expense reports, asset report before the main accounting system was even updated.

Having such a deep impact on many people desktops could have been a politically sensitive issue as people’s daily work practices were changed. It was a testament to the entire professional partnership that this large impacting system was introduced into the business in a seamless and pain free way.

As the system was initially implemented it was realized that the client could benefit in other areas of the business not initially identified at the outset – especially in the areas of internal cost-code accounting and splitting expenses across departments together with providing interfaces to external systems – so changes were made to the project plan which was kept fluid ; From inception Mikrofax had kept the core system design flexible so that the physical system could adapt to the clients logical business change requirements.

We contacted Mikrofax after examining the marketplace for available solutions and requesting product demonstrations from all large eProcurement suppliers

The system was developed within the existing IT hardware infrastructure. It linked a newly developed SQL-Server 2000 database via an OfficeXP based development using AccessXP, MS-Exchange, VB.NET and ASP.NET for the web based modules – New hardware specifically introduced included bar code printers, and Psion handheld bar code scanners.

There were about 10 key individuals in the combined management team together with many ancillary staff used from both sides.

We spent 3 months planning and then 3 months implementation and modification

The system is currently in London and New York and 3 other locations are proposed in Hong Kong, Singapore and Sydney

We set both the business objectives and goals to achieve : Mikrofax spent much time analyzing the requirements and came up with software and new process solutions to resolve the business issues raised. The final product developed is well supported by Mikrofax with any issues being resolved within a short timeframe. The proof of the systems success and excellence is the response seen from ICAP’s senior management and the eagerness with which the system is now used and relied upon.

The system has enabled the delivery of faster and real time tracking of PO’s, projects and asset tracking. It has been modified locally but equally can take a global view of all purchases, enabling better control of invoices and overall client activity.

Due to the penetration the system had within the business it affected many different people – the essential element of the team was to be empathic to the differing (and sometimes competing) needs within this large organization – typical challenges were how to reflect UK process and different US process’s within the same single software solution.

By implementing Mikrofax's solution we have moved away from a paper based system to every order being tracked electronically. We also have electronic proof of all authorisations and ensure that they are signed at the correct level of authority. Thus leads to greater productivity and accountability of all purchases.

Increased accuracy in business decision making Client breakdown and the ability to track all orders with each client has been seen a significant business benefit with much tighter control. This is a tangible benefit but also has intangible benefits. All orders are now electronically tagged, backed up and secure.

Prior to the system the client was losing orders, or misplacing them as in a paper based system further more there was no accountable and auditable asset tracking system.

Innovation - Mikrofax have released a new web based version for easy deployment over a browser. This will enable straightforward access into the system for key managers and decision makers from overseas offices.

All expected benefits were met and all goals were reached.

None difficulties were found that that were insurmountable. Different regional offices within ICAP worked differently. This is an internal issue but it meant that the final role-out took longer than anticipated. The TBA-Power product is very customizable so was it able to be enhanced for each way our regions operated.

Comparing our initial goals to where we are today we have achieved our aims. What remains is better integration of our other internal systems ; we see Mikrofax's system as a key product and part of our strategy going forward.