Dynamics NAV helps ÚJV Řež, a. s. in the management of research projects
ÚJV Řež, a. s. (ÚJV) not far from Prague will invest 333 million crowns annually on research projects. Some of the projects at the starting gates are radiopharmaceuticals, components for PET tomography and even large-scale projects to improve the efficiency and safety of nuclear and thermal power plants. Since 2001, Microsoft Dynamics NAV has been taking care of the economic side of ÚJV. In 2009 it also took on and supported the demanding agenda of managing research projects.
Research Institute, which has moved into the commercial sector
ÚJV Řež a.s. was founded in 1955 in what was then Czechoslovakia as the Nuclear Physics Institute of the Academy. In 1991, the Federal National Property Fund then transferred ÚJV into a corporation. It gradually fell into the hands of ČEZ Group as the majority shareholder and then under the leadership of ÚJV gradually took on five other subsidiaries - Řež Research Centre , EGP Invest Uherský Brod , Brno Institute of Applied Mechanics, Plzeň Research and Testing Institute and Řež Nuclear Safety & Technology Centre.
Solid process analysis laid the foundations of the system for 10 years
At the beginning of the implementation of Microsoft Dynamics an obsolete information system designed more for Microsoft DOS was under use, which ÚJV decided to replace with a more complex modern economic system. At that time the choice fell on the predecessor to Microsoft Dynamics NAV, which was then implemented by NAVISYS . ÚJV along with the help of its implementation partner took on a very thorough process analysis. This later became an important foundation not only for the initial implementation in 2001, but also for the deployment of all the following versions. Microsoft Dynamics NAV over the years began to take care of the accounting, including for the most recently acquired and founded subsidiaries, which together with the ERP system, took over and set up processes in the area of administration finance specified for a detailed initial analysis.
For more than 10 years not a single system failure
During more than a decade of service with Microsoft Dynamics NAV not a single failure or problem with the system occurred at ÚJV. Everything worked as it should have, even for phasing in system updates and database platforms Microsoft SQL Server. Throughout the entire time ÚJV has continued cooperation with NAVISYS as the implementation partner. They were continually adding necessary updates and edits into the system. Microsoft Dynamics NAV at ÚJV over the years proved the point that even after ČEZ took over the ÚJV group there was no need to replace the system with a different one. It was only necessary to modify the reports and documents that the ČEZ auditors used.
From financial management to project management
Since 2001, ÚJV took on three transitions to a newer version of Microsoft Dynamics NAV. The last one took place in 2012. A fundamental change took place in 2009 when they switched to Microsoft SQL database and implemented the module Advanced projects - BIZ4BuildIn, where ÚJV targeted the detailed management of research projects. These are the main sources of ÚJV finance. Mostly they are multi-year projects subsidized from EU funds and grants Grant Agency of the Czech Republic. In 2011 alone ÚJV invested 333 million in scientific research projects. ÚJV is divided into a total of five divisions each of which is further divided into departments. When creating budgets the financial plans are gradually prepared starting from the departments, through the divisions and all the way to a comprehensive financial plan for ÚJV, including all subsidiaries, which is then submitted for approval to the owners. Since 2009 it has been possible to also include research projects into these plans, which are the main source of income and significantly affect even ÚJV cash flow.
Management of research projects is now fully integrated into the ÚJV financial planning. Individual project managers prepare detailed project budgets at a time when they seek to obtain the project, either in the European Union, GA or commercial entity. Microsoft Dynamics NAV allows for the more efficient development of financial plans even taking into account the probability of getting the project so that the budget of the division can count finances for its implementation. Once the ÚJV gets the project and signs the contract, the status recorded on the project, then this is automatically reflected in the initial financial plan for the project, including detailed timing of expenditures in the financial plan and the cash flow plan for across divisions and the companies. Project planning takes into account the fact that one project often involves staff from multiple divisions. If your project manager plans to use the research capacity of the other divisions, this fact is reflected in his division spending plan and the revenue plan for the division whose services are necessary for the implementation of the project.
Audits are on a daily basis
The versatility of Microsoft Dynamics NAV is not the only property upon which ÚJV has enjoyed the system. The strength is the ability to provide auditable financial results. Given the company’s focus numerous audits are carried out almost continuously. In addition to the audit of public limited companies, which is the tax law, there are regular audits of individual projects from funding agencies. Independent audits are also carried out by the majority shareholder, ČEZ Group. Microsoft Dynamics NAV meanwhile can significantly facilitate in preparation of the audit. It can quickly provide not only standardized financial statements made on any day of the year, but also detailed financial statements for individual economic units and projects. The projects are also directly in Microsoft Dynamics NAV and make available all contracts and related documents for the case that the auditor, senior manager or owner requested. Microsoft Dynamics NAV has covered all the needs of ÚJV for over 10 years and has dealt with all ownership and organizational changes which have occurred over time.