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In 2024, the agricultural company “NIBULON,” in collaboration with IT-Enterprise, revamped the quantitative and qualitative accounting processes of its elevator complexes. This large-scale project marked another step in the digitalisation of the business, enhancing its competitiveness in both domestic and international markets.
According to NIBULON, the project was deployed as part of a major modernization and improvement of its IT infrastructure. This is one of the key resources for the company to restore its competitive potential in domestic and foreign markets, given all the challenges it has faced since 2022: destroyed logistics routes, direct losses due to facility destruction and the resulting fall in profits. This prompted the NIBULON team to review their processes and became an extra motivation to begin implementing solutions with Industry 4.0 elements, seeking improvement in business process efficiency.
Our team has been successfully collaborating with NIBULON for many years. Not surprisingly, in 2022, when our partner faced significant challenges due to the full-scale war, we felt it was our mission to contribute as much as possible, leveraging our knowledge, expertise and innovation to achieve our common goals,
said Oleg Shcherbatenko, founder and CEO of IT-Enterprise.
The first step in this direction was to upgrade the IT-Enterprise ERP system to the latest version. Next, the project team carried out automation using state-of-the-art IT tools and approaches for HR and payroll, electronic document management, finance, treasury and accounting in compliance with national regulations and international financial reporting standards (IFRS). These areas formed the digital core of NIBULON that ensured the integrated operation of business processes. It was also a prerequisite for implementing one of the company’s most labor-intensive transformation projects: quantitative and qualitative accounting for the elevator network.
Quantitative and qualitative accounting is a key process for the efficient operation of elevator facilities, which, in turn, has a great impact on NIBULON’s profitability in grain exports. The project aimed at optimizing quantitative and qualitative accounting involved improving business processes for grain accounting and deploying additional processes for logistics and cost calculation.
Since we launched a new, more efficient version of the quantitative and qualitative accounting business process, we have been able to automatically track the movement of grain, its key indicators and the funds spent on grain processing and logistics from the moment it arrives at the elevator to the shipment to the end consumer. This allows us to calculate the exact cost of production and our profits. Most importantly, we can see what adjustments we should make at each stage to improve our financial and service performance,
said Mykola Riasko, CIO at NIBULON.
The ultimate goal of the project is to transition to a fully digital grain elevator model that will be operating based on the management and coordination of all processes via digital systems. This concept is being gradually scaled up and deployed at all 23 NIBULON elevator facilities.
In practical terms, having a “digital grain elevator” means the introduction of digital tools, such as an e-card for laboratory control of grain quality, automatic integration with equipment, new payment modes, and additional regulatory and reference information (RRI). The project’s advanced capabilities include processes for maintaining process batches, working with leased warehouses and switching to primary batch accounting. Another important derivative functionality is the ability to automate the creation and tracking of so-called licensed batches with stricter quality requirements. All these steps have improved quality control, automated the accounting processes, and optimized the grain stock management at elevator facilities.
To sum up the results of our quantitative and qualitative accounting digitalization project, let me name three key points. The first achievement is that we can benefit from simpler, faster and automated business processes. Secondly, we achieved a higher accuracy of accounting, adding clarity and relevance to the company’s financial statements. Finally, there is now a greater focus on the consumer thanks to more efficient and faster customer service operations,
said Mykola Riasko, CIO at NIBULON.
Overall, the digitalization project allowed NIBULON to build uniform accounting processes at all of its branches. It also improved integration with equipment and third-party systems, adding value to business process management.
At this stage of cooperation, the customer team appreciates the fundamental role of IT-Enterprise’s industry experience as a solution architect and process integrator. All approaches and solutions used in this project are aligned with the specifics of the agricultural exporter’s activities.
