Ensuring the Financial Future of Entire Generations with Dynamics 365

Ensuring the Financial Future of Entire Generations with Microsoft Dynamics 365

For many of us, Trinidad and Tobago is a vacation destination. But this island nation is also home to people who strive for financial security and stability -- something that can be a real challenge.

With the formation of the Trinidad and Tobago Stock Exchange in 1982, citizens had their first opportunity to invest at the national level. Before the introduction of the exchange, the only other savings alternative was something called a susu (or sou sou). This traditional approach to savings involved a small group of people (around 10) who would pool their money, with one individual receiving the pool at the end of each month.

Following a similar principle, the Unit Trust Corporation was established. This mutual fund company offers full investment and asset management services to citizens nationwide. By pooling their money together, over 600,000 citizens have been presented with the opportunity to invest and receive a return.

Creating a Future that Works for All Citizens

From the beginning, the Unit Trust has been focused on more than simply earning a profit. Their mission is to give every citizen the opportunity to achieve financial stability. There are countless success stories, too, including one woman from a rural area who began with just a few hundred dollars in savings, who now owns millions of dollars in real estate investments.

Given that it has more than half of Trinidad and Tobago’s money in its trust, the Unit Trust works hard to ensure that funds are invested in the right types of equities. This requires constant innovation -- and that innovation requires the right technology.

Innovation and Technology Working Together

With more than 600,000 citizens’ money invested in the Unit Trust, the stakes are high: the future of these people depends on them.

Not long ago, the Unit Trust was relying on an SAP ERP system, which was outdated and maintenance heavy, leaving the company to rely on Microsoft Excel for both annual reporting and analytics. They set a goal of achieving a 5-year digital transformation and needed an ERP system that could help them grow while reducing costs.

Microsoft Dynamics 365 and AKA Enterprise Solutions

The management team at the Unit Trust did their homework. First, they knew that they needed an ERP solution that could improve their reporting, give them better insight into supply chain management, increase efficiency and decrease costs. Eventually, they decided on Microsoft Dynamics 365 ERP. The combination of features and ease of use made it a no brainer.

In addition to their new ERP platform, they also knew they needed to find the right technology partner who could help them successfully achieve their digital transformation, particularly given the size and scope of what they wanted to achieve. Many of the partners they considered didn’t meet their needs.

When Microsoft recommended AKA Enterprise Solutions as a top company for financial services projects, the Unit Trust decided to engage in extensive discovery sessions to learn more. Ultimately, they determined that AKA’s methodology and expertise were exactly what they were looking for.

The Benefits of a New and Updated ERP System

As the project progressed, AKA proved to be an excellent choice. The project was completed on budget and ahead of schedule. What’s more, the Unit Trust was highly satisfied with their new ERP solution. With Microsoft Dynamics 365 ERP, the corporation has been able to increase sales targets, effectively offering the opportunity for financial security to more individuals in Trinidad and Tobago.

Nigel Edwards, Executive Director of Unit Trust Corporation, sums it up best:

“Our team has formed a special bond with the AKA team...There was always an atmosphere of mutual sharing, and that's important, because our mission is simple: To ensure the financial well-being and security of every household in Trinidad and Tobago. The Microsoft platform is giving us new and better ways of doing that every day, so we appreciate the involvement of AKA in taking us there.”

Looking for ways to reduce costs without compromising client service and success? Learn more about our solutions for Financial Services, and then talk to our Financial Services experts.

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