RE Capital's Financial Foundation with D365 Finance & Operations

Introduction

RE Capital, a prominent asset management company with operations across the UK, Portugal, Switzerland, and Mauritius, embarked on a transformative journey to overhaul its finance operations. The initiative, known as the RE Capital Finance Transformation Project, aimed to transition from a legacy general ledger system to the cutting-edge Dynamics 365 Finance and Operations (D365 FnO).

This ambitious project was designed to optimize finance processes, automate banking reconciliations, and embed robust internal controls and workflows for over 90 companies within RE Capital’s portfolio.

The Challenge

Prior to the transformation, RE Capital grappled with an outdated finance system that was not only cumbersome but also lacked the agility and efficiency required for modern asset management. The legacy system led to significant delays in financial reporting, challenges in compliance and internal controls, and inefficiencies in bank reconciliation processes.

Moreover, the company faced the daunting task of managing financial operations across diverse regulatory environments, adding complexity to financial transactions and data management.

Objectives and Strategy

The overarching goal of the Finance Transformation Project was to streamline financial operations and enhance the overall efficacy of financial management across all RE Capital entities. The strategy involved a comprehensive migration to Dynamics 365 FnO, which would offer a unified platform for financial operations, enhanced data security, and improved compliance capabilities.

Key objectives included automating key finance processes such as bank reconciliations, standardizing workflows across different regions, and embedding stringent internal controls to mitigate risks and enhance financial integrity.

Implementation

The implementation process was structured into several phases, starting with an in-depth analysis of existing financial processes and systems across all countries. This analysis helped in customizing Dynamics 365 FnO to meet the specific needs of RE Capital’s diverse portfolio. The migration involved complex data transfer and integration, requiring meticulous planning and execution to ensure data accuracy and system stability.

A significant focus was placed on designing and implementing automated workflows for bank reconciliations and other financial transactions, which were crucial for improving efficiency and reducing manual labor. Additionally, the project team developed and integrated comprehensive internal control mechanisms within D365 FnO to ensure compliance with financial regulations across different regions.

Results and Benefits

The transition to Dynamics 365 FnO transformed RE Capital’s financial landscape. Key benefits included:

Enhanced Efficiency: Automation of bank reconciliations and other financial processes reduced manual errors and operational costs, significantly improving workflow efficiency.

Improved Compliance and Control: The new system provided robust internal controls and streamlined workflows, greatly enhancing compliance with regional regulations and internal policies.

Real-Time Financial Reporting: Dynamics 365 FnO enabled real-time financial data processing, allowing for timely and accurate financial reporting and better decision-making.

Scalability: The scalable nature of Dynamics 365 FnO facilitated smooth financial management as RE Capital continues to grow and expand into new markets.

Conclusion

RE Capital’s Finance Transformation Project marked a significant milestone in the company’s journey towards modernizing its asset management operations. By leveraging Dynamics 365 FnO, RE Capital has not only streamlined its financial processes but has also positioned itself for future growth and success in the competitive asset management industry. This transformation has laid a solid foundation for operational excellence and strategic expansion, showcasing RE Capital’s commitment to embracing innovative solutions to meet the challenges of modern finance.