AGR-e, developer and provider of solutions for financial management, has recently been awarded several projects by Delek Fuel: development of a banks reconciliation solution, implementation of the treasury module of its Cash4ERP financial desktop, and deployment of the Meteor system for managing bank statements. The projects were led by M-Direct and managed by Rami Margalit, who provides consulting services to Delek Fuel.
Delek Fuel has 245 gas stations throughout the country that serve 130,000 customers every day, as well as a chain of over 180 convenience stores. Delek Fuel’s sales in 2010 amounted to approximately $5 billion.
The financial desktop component deployed by AGR-e supports the continuous management and operation of treasury activities, including up-to-date reports at any time. The product also allows analyzing data flexibly and rapidly. The module is adapted to the needs of the CFO or treasurer, can issue orders to both the bank and the organization, investigates data, and verifies forecasts versus execution.
The banks reconciliation software is a complementary solution for Delek’s Oracle ERP. It enables users to execute bank reconciliations (accounting reconciliations between bank transactions and bookkeeping), as well as automatic and manual reconciliations. Among others, the solution supports journal vouchers for rounding differentials that result from the reconciliation, and automatic journal vouchers for ERP transactions following entry of bank statement transactions (transactions for “preliminary registration”, which obviates the need to make manual entries into the ERP system). The module also supports records of transactions like bank commissions/interest, standing orders, daily interest deposits/withdrawals and more. In the software’s development, special emphasis was given to rapid response time and ease of use.
The Meteor bank statements system deployed at Delek will collect financial transactions from the banks and integrate them with Delek’s relevant financial systems. It will also send the bank statements, including alerts, to various Delek users via email.
“The project deployed by AGR-e will assist Delek in its ongoing financial activities and daily operations with its banks,” said Moshe Mashiach, Delek’s CFO. “With the help of AGR-e’s products and experts, we successfully replaced our curent applications; this was accomplished successfully while fully maintaining work continuity. At the same time, we provided our users with additional functional capabilities and have improved significantly the user’s interface.”
“Delek’s selection of AGR-e for these three financial projects is a milestone in our company’s growth,” said Ishay Shniadower, AGR-e’s CEO. “We are committed to providing our customers with the most advanced products and solutions, and Dekel’s decision reflects our success in meeting this commitment.”