Barter Trader Integrates Barter Management and Accounting Processes



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Microsoft Business Solutions

Customer Solution Case Study
















Barter Trader Integrates Barter Management and Accounting Processes




Reduces operating costs by 40 percent




Overview

Country or Region: India

Industry: Professional Services
Customer Profile

Net4Barter, an Indian trade exchange firm, facilitates trading transactions through a member network. It also markets products and services to its members, as well as maintaining records and accounts, and underwriting transactions.


Business Situation

With the absence of an integrated business solution it was impossible to monitor and manage the business efficiently. Consequently, Net4Barter needed a solution to manage the barter exchange and monitor the transactions of each member.


Solution

Net4Barter deployed Microsoft® Business Solutions-Navision®, with the help of Headstart Business Solutions, to manage its commissions, barter balances, and credit management processes.


Benefits

  • Accurate barter statements.

  • Barter transactions managed more efficiently.

  • Consolidated business processes

  • Reduced operating costs by 40 percent










“Microsoft Business Solutions–Navision has provided us excellent integration between our barter transaction management and accounting.”

Rakesh Bhatnagar, Chief Executive Officer, Net4Barter










Net4Barter pioneered the Indian corporate barter industry, when it commenced operations in June 2000. The company developed a huge opportunity for barter transactions among Indian companies. It enabled companies to buy products and services—without spending cash— by paying in kind, which in turn can resolve their excess stock problems.
The solution Net4Barter needed revolved around the creation of an organized trade exchange at a national level which facilitates trade among a network of companies.
The implementation of Microsoft® Business Solutions–Navision® has helped Net4Barter to restructure business processes. It has enabled the company to automate its bartering transaction processes and also to integrate transaction workflow and processes with accounting. The company is now competent to maintain its barter balances and manage transaction status updates in real time, which has helped the company to save as much as 40 percent on operating costs.


























Situation



Net4Barter is an Indian barter and trade exchange where buyers and sellers can meet and exchange their product and services, as barter and cash transactions. Net4Barter acts as an exchange and collects commissions on the transactions.
A typical example of barter would be Dainik Jagaran, India's most read daily newspaper. Dainik Jagaran buys products for running reader contests, incentives for distributors, gifts for advertisers in its newspaper. It also buys services such as conference facilities, hotel rooms for internal consumption. All it has to offer is advertising space which is what it sells on a daily basis. It chooses products and services from any of the thousands of members of Net4barter and in return offers similar value of advertising in Dainik Jagaran.
It has built a strong base of loyal and satisfied clients across a number of industries over the years, which include well known Indian and international companies such as Business India, Business World, Godrej, Grand Hyatt, Hindustan Times, Hotel Radisson, Helene Curtis, MTV, Kinetic, Sahara Airlines, Timex, Indian Express, Britannia, Monte Carlo, Amar Ujala, Cadila (EverYuth), Epson, Eureka Forbes, CavinKare, G.M. Pens (Reynolds), Vijay Karnataka, Polar, Nomarks, Nike, Oyzterbay, Symphony, and Rasna.
With its corporate office in New Delhi, the company has grown to an 80-member strong team of sales and marketing professionals over the last three years, with operations across 14 locations in India including New Delhi, Mumbai (Bombay), Bangalore, Chennai (Madras), Kolkata (Calcutta), Chandigarh, Ahmedabad, Cochin, and Hyderabad.
The company was using Tally, a financial package by an Indian software company and the Microsoft® Office Excel® spreadsheet software for managing accounts.
Each member’s transactions were recorded on Microsoft Office Excel to track their barter balance. Net4Barter has to ensure that no one company buys too much in comparison to its sales. It is critical to monitor the process of barter transactions and to ensure that there are no violations in the nature of exchange.
The challenge with such a process was that the company was unable to track the transactions effectively. The barter processes could get skewed in favor of some customers if not monitored closely, because it was difficult to track the buying, selling, and customer balances.
In addition, Net4Barter used to provide statements to its members giving transaction details of both the buying and selling. In the future, it wanted this information to be available in real time to its members as well as to its employees so that it could check the buy versus sell limits, and take corrective steps.
The second issue that faced the organization was billing its members for the services of the exchange. Net4Barter charges a fee for each transaction. This was managed using the financial solution, Tally. There was a need to provide a single solution that integrated the sales, finance and barter balance all into a single solution. Thereby, the company could monitor each transaction at every stage of a transaction. The company could then raise invoices for the fee as soon as the transaction is completed.
An efficient control and process monitoring was required to create checks and balances for healthy barter exchange.

Solution


The company evaluated several products, including 3i’s Orion and Computer Associates product ACCPAC.

“We chose Microsoft Business Solutions–Navision instead of the other products due its flexibility, scalability, and the Microsoft brand, which ensures that the product will have longevity and a clear product plan.”

Name, Designation, Net4Barter




“We chose Microsoft Business Solutions–Navision® instead of the other products due its flexibility, scalability, and the Microsoft brand, which ensures that the product will have longevity and a clear product plan,” points out Manish Dutta, Chief Operating Officer, Net4Barter.
Headstart Business Solutions, a Microsoft Business Partner, customized Microsoft Business Solutions–Navision to create a bartering-focused solution that would manage the needs of bartering transaction accounting and also build a deal approval and management process. The solution helps in monitoring the transactions, acquiring updated information on buyers and sellers, applying set buying and selling limits, and generating accurate transaction statements.
The company implemented the Microsoft Navision modules for sales and receivables, purchasing and accounts payable, fixed assets, general ledger, inventory, human resources, and payroll.
The sales and receivables module has helped in generating updated bartering account balances and to control receivables.


“The Microsoft Navision solution provides us accurate account statements. The solution also integrates transactions for all business areas of a single client's organization, to provide real-time, consolidated transaction information for the entire company—and makes it available online."

Rakesh Bhatnagar, Chief Executive Officer, Net4Barter






The purchasing and payables module is integrated with sales and general ledger modules.
The inventory module helps in working capital management and also provides a virtual tool for managing trade and logistics of the deals in transit.
The payroll module is localized to scenarios in India to include: employee details, wages, reimbursements, wages in arrears, pension fund, employees’ state insurance, tax deductions, and tax planning for individual employees.
The general ledger helps in managing profitability statements, balances, and bank details, and it provides a snapshot of the entire client organizations' accounts. It also helps in managing various reporting requirements through accounting schedules.
“Microsoft Business Solutions–Navision has provided us an excellent integration between our barter transaction management and accounting systems,” comments Rakesh Bhatnagar, Chief Executive Officer, Net4Barter.
Net4Barter is in the process of developing a Web portal based on Microsoft ASP.NET for the retail market. This will help the company to manage the deals, create account summaries for customers, and help in the execution and logistics management of the deal fulfillment for smaller retail outlets. The portal will also have a product and services catalogue, to offer customers the best deals for them, and a range of barter business opportunities. The portal will be integrated with Microsoft Business Solutions–Navision for the centralized master records on customers, vendors, terms, balances, accounting management and back-office operations.
Benefits

“The Microsoft Business Solutions–Navision has made the entire barter process simpler and far more efficient.” notes Ashish Chaturvedi, Head-Corporate Projects, Net4Barter.


Provides Accurate Barter Statements

“The Microsoft Navision solution provides us accurate account statements. The solution also integrates transactions for all business areas of a single client's organization, to provide real-time, consolidated transaction information for the entire company—and makes it available online,” notes Rakesh Bhatnagar, CEO, Net4Barter.


Manages Barter Transactions

Microsoft Business Solutions–Navision helps monitor each deal. It also helps to build checks and balances in the bartering marketplace and make corrections in policies, based on the information processed at a consolidated level.


Consolidates Business Processes

The back-office operations are automated to avoid re-entry and repetition of tasks, thereby increasing productivity, managing operations at multiple locations, and reducing consumption of office supplies. And, in addition, the back-office systems help Net4Barter efficiently manage working capital by providing accurate and timely accounts receivable statements.


Reduce Operating Costs by 40 Percent

The company has been able to manage its head count and make its staff more productive. Earlier, Net4Barter had 13 employees managing the accounts for the company. With the implementation of Microsoft Business Solutions – Navision, this has been reduced to seven employees.


About Headstart Business Solutions Private Limited

Headstart Business Solutions is a Microsoft Business Solutions Partner. Headstart has a core team of people from multi domain with qualitative and quantitative experience in the areas of IT strategic and tactical operations both at national and international arena.


Headstart offers IT and process related services with an objective to leverage the strengths of these individuals through forging alliances with Microsoft Business Solutions for ERP solutions successfully.

For More Information

For more information about Microsoft products and services, call the Microsoft Sales Information Center at (800) 426-9400. In Canada, call the Microsoft Canada Information Centre at (877) 568-2495. Customers who are deaf or hard-of-hearing can reach Microsoft text telephone (TTY/TDD) services at (800) 892-5234 in the United States or (905) 568-9641 in Canada. Outside the 50 United States and Canada, please contact your local Microsoft subsidiary. To access information using the World Wide Web, go to: www.microsoft.com


For more information about HeadStart Process Consulting Private Limited products and services, call +91 11 29224244 or visit the Web site at: www.headstartconsulting.com

For more information about Net4Barter products and services, call +91-11-29532963 or visit the Web site at: www.net4barter.com





© 2003 Microsoft Corporation.
All rights reserved. This case study is for informational purposes only. MICROSOFT MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY. Microsoft, Excel, Navision, Windows, the Windows logo, Windows Server, and Windows Server System are either registered trademarks or trademarks of Microsoft Corporation, Microsoft Business Solutions ApS, or FRx Software Corporation or their affiliates in the United States and/or other countries. Microsoft Business Solutions ApS and FRx Software Corporation are subsidiaries of Microsoft Corporation. ­­­­­­­­­­­­­­
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Document published December 2005










Software and Services

  • Microsoft Windows Server System™

  • Microsoft Windows Server™ 2003 Standard Edition

  • Microsoft Business Solutions–Navision

Hardware

  • Hewlett Packard desktops Pentium III and IV, 256-megabyte RAM, 80-gigabytes Hard Disk Drive



Microsoft Business Solutions

Microsoft Business Solutions offer integrated business applications and services that allow small and midsize organizations and divisions of large enterprises to connect employees, customers, and suppliers for improved efficiency. The financial management, customer relationship management, supply chain management, and analytics applications work with other Microsoft software, including the Microsoft Office System and the Windows® operating system, to streamline processes across an entire organization. This gives businesses insight to respond rapidly, plan strategically, and execute quickly. Microsoft Business Solutions are delivered through a worldwide network of channel partners that provide specialized services and local support tailored to a company’s needs.


For more information about Microsoft Business Solutions, go to:

www.microsoft.com/businesssolutions
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