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Netpeak Group is an international group of IT companies, which includes 23 companies and 4 startup studios. The group is organized as an ecosystem to promote the development of existing business projects and the growth of new ones so that all companies within the group empower each other.

The group's goal is to develop a sufficient number of companies with a total revenue equal to 1% of Ukraine's GDP.

The Netpeak Group ecosystem includes companies operating in the following areas:

• consulting companies (Netpeak Core);
• services (Netpeak digital marketing agency, RadASO ASO and ASA services agency, Inweb internet marketing agency, Netpeak Talent recruiting agency);
• SaaS platforms (multifunctional SEO platform Serpstat, end-to-end analytics and call tracking platform Ringostat, a platform for SEO specialists Netpeak Software, LMS platform AcademyOcean);
• product companies (Tonti Laguna, 42n, Tonti Laguna Prime, PDFliner, Asolytics);
• mobile application development studios (KissMyApps, Saldo Apps);
• educational projects (Choice31 career development company);
• social projects (My City crowdfunding platform, GladPet, Report).

Most of these projects emerged as internal startups, eventually transforming into independent businesses.

Netpeak Group is an advocate of ‘IT-Ukrainization’ of process management tools and systems within the country. In May 2022, together with the Ministry of Digital Transformation, the team launched the Replace-RU-with-UA platform, an aggregator of Ukraine-made software to replace russian products.

Objectives

The management of Netpeak Group aimed to consolidate the cash flow management of a distributed holding structure in a single information environment. The project covered more than 70 companies of various forms of ownership in Europe, Asia, America, etc.

Therefore, the goal of the project was to build a single information space for real-time operational management of Netpeak Group's funds and provide the ability to accept payments in one place.

The platform chosen for treasury digitalization was IT-Enterprise, a Ukrainian no-code/low-code ERP system.

It is worth noting that treasury management incorporates cash flow management, ensuring solvency and liquidity, reducing risks and operating costs. The efficiency of business activities directly depends on the coherence of these processes, which all fall under the umbrella of the treasury — the company’s settlement service that operates each of its bank accounts.

The treasury fulfills the following tasks:

• payment transactions;
• collecting payment requests from financial responsibility centers (FCCs) and control over their implementation;
• compilation of payment invoice registers, formation and approval of the payment schedule, creation of the payment calendar;
• control of payments under contracts, compliance with contracts;
• interactive cashflow analysis.

The group of companies needed a solution to consolidate all financial flows from its members, which submit applications for making payments and determine which payments should be prioritized.

The consolidated treasury relies on constant operational data exchange between the companies and 365/24/7 online management of information flows.

Project

Implementation of the consolidated treasury on the no-code/low-code IT-Enterprise platform required active work of the project team to unify a significant number of financial responsibility centers (FRCs) of different companies and standardize payment business processes.

Integration with payment systems

The team established data exchange with payment systems and services that provide electronic payment services around the world: PayPal, Paysera.

Integration with online banking

The team created an API integration with online banking to exchange bank statements and payment orders with the banks' software.

Integration was set up with a number of Ukrainian, US and EU banks. It involved a few interesting features, such as receipt of statement files from Monobank, downloading information about the transactions made via X-Token, and data exchange with Revolut and Wise through their APIs.

Exchange rates

The project suggested multi-currency transactions, so the team set up an integration for the daily update of official foreign exchange rates from the Minfin.com.ua portal, which has an API to synchronize data with the official online resource of the National Bank of Ukraine and the current bank exchange rates in Ukraine.

Another integration was made with the central government banking institution of Great Britain, the Bank of England.

These are just a few fascinating examples to illustrate a solution for a rather uncommon structure of financial resources.

DataDrilling analytics

The consolidated treasury project included financial analytics to detail the operational analysis and enable the creation of various reporting forms.

In addition to standard analytics (Cash Flow articles, financial responsibility centers (FRCs), currencies), there are unique analytics per business unit, business project, business model, owners, etc.

For data export, the team implemented the drill-down method to access the required layers and characteristics and obtain information to support managerial decision-making.

Reports and analytics allow users to promptly receive information about the financial condition of the Netpeak Group, control the execution of monetary transactions, monitor payment terms and run a planned-vs-factual analysis of payments. 

This is the overview of how we united and consolidated the financial flows of all companies of the group into a single system, created the Consolidated Form and ensured its quick generation with suitable IT tools.

Project work

Teamwork with Netpeak Group is an example of project work in its best sense when the customer and the executor work in synergy for the best result.

The customer's team did its best in preparing and elaborating the specifications, testing the integrations and tools integrated with the no-code/low-code IT-Enterprise platform, including some completely new tools, such as bank statements of other countries.

A significant part of the project's success is due to the customer's extraordinary motivation and readiness for a ping-pong play of discussions, brainstorming, explanations, pro/against arguments, and focus on timely movement through the project stages.

"It was our immense pleasure to work with the leadership team, which is focused on maximum efficiency and is interested in streamlining the best solutions. We were impressed by how sincerely our partners inquired about our experience in working with corporate giants around the world and their willingness to interact, generate ideas and create new approaches so that our joint work was as coordinated as possible, and we were moving towards our goals at the same pace," comments Oleksandra Hryschuk, project manager from IT-Enterprise.

Key results

Treasury digitalization provides tools to ensure effective management of all cash flows and improve financial manageability within the Netpeak Group, resulting in the following benefits: