AuraQuantic Case Studies CardNET's Digital Transformation: From Hours to Minutes

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	CardNET's Digital Transformation: From Hours to Minutes AuraQuantic

CardNET's Digital Transformation: From Hours to Minutes

AuraQuantic

Technology Category	Networks & Connectivity - NFC Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Equipment & Machinery Paper & Pulp
Applicable Functions	Procurement Product Research & Development
Use Cases	Real-Time Location System (RTLS) Time Sensitive Networking
Services	System Integration Training
Challenge	CardNET, a company dedicated to processing online and offline payments, faced a significant challenge during the COVID-19 pandemic. The increase in online transactions led the company to make a technological leap in terms of the service portfolio it offers its customers. However, the pandemic also drove the company to initiate an organizational introspection process to identify internal processes that needed to be automated and digitized, in order to adapt to the new digital world. Before implementing AuraQuantic, CardNET did not use any automated internal system, so the work methodology was based on the use of traditional tools such as paper documentation, handwritten signatures, phone calls and there was no system for monitoring internal operations or detecting potential errors. Another problem detected in the company was that many internal process policies had become obsolete. Read More
About Customer	CardNET is a company based in the Dominican Republic, dedicated to processing online and offline payments. With over 20 years of experience in the market, CardNET offers a wide portfolio of services including Acquirign, the Merchant Affiliation for the Acquisition of Payment Transactions, the ATH Network of ATMs, and the ACH national service for interbank fund transfers. CardNET’s main function is to act as an intermediary between a client, the issuing bank, the receiving bank and a company, allowing the information of an economic transaction to pass from one place to another. The company is led by Luis Bencosme, CEO and president of the Board of Directors. Read More
Solution	CardNET opted for AuraQuantic, as the most suitable software option on the market to carry out its digital transformation process. The company began the transformation process by selecting nine macro processes to automate. These processes were developed one at a time and were submitted to an internal requirement review by the company. The company selected the extremely complex purchasing process to begin the automation, which manages purchase requests to suppliers and ensures the corresponding payments are made. Other complex processes selected for automation include payment processes involving vendors, customers and affiliates and the digitization of all related administration tasks. Simpler processes such as material requests, expense management and fuel card management were all completed in just four to six weeks. The platform’s ease of use and intuitive no-code interface empowered CardNET employees with no background in application development or programming to continue to develop processes autonomously and independently. Read More Log in to view content
Contents

Technology Category

Networks & Connectivity - NFC

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Equipment & Machinery

Paper & Pulp

Applicable Functions

Procurement

Product Research & Development

Use Cases

Real-Time Location System (RTLS)

Time Sensitive Networking

Services

System Integration

Training

Challenge

CardNET, a company dedicated to processing online and offline payments, faced a significant challenge during the COVID-19 pandemic. The increase in online transactions led the company to make a technological leap in terms of the service portfolio it offers its customers. However, the pandemic also drove the company to initiate an organizational introspection process to identify internal processes that needed to be automated and digitized, in order to adapt to the new digital world. Before implementing AuraQuantic, CardNET did not use any automated internal system, so the work methodology was based on the use of traditional tools such as paper documentation, handwritten signatures, phone calls and there was no system for monitoring internal operations or detecting potential errors. Another problem detected in the company was that many internal process policies had become obsolete.

About Customer

CardNET is a company based in the Dominican Republic, dedicated to processing online and offline payments. With over 20 years of experience in the market, CardNET offers a wide portfolio of services including Acquirign, the Merchant Affiliation for the Acquisition of Payment Transactions, the ATH Network of ATMs, and the ACH national service for interbank fund transfers. CardNET’s main function is to act as an intermediary between a client, the issuing bank, the receiving bank and a company, allowing the information of an economic transaction to pass from one place to another. The company is led by Luis Bencosme, CEO and president of the Board of Directors.

Solution

CardNET opted for AuraQuantic, as the most suitable software option on the market to carry out its digital transformation process. The company began the transformation process by selecting nine macro processes to automate. These processes were developed one at a time and were submitted to an internal requirement review by the company. The company selected the extremely complex purchasing process to begin the automation, which manages purchase requests to suppliers and ensures the corresponding payments are made. Other complex processes selected for automation include payment processes involving vendors, customers and affiliates and the digitization of all related administration tasks. Simpler processes such as material requests, expense management and fuel card management were all completed in just four to six weeks. The platform’s ease of use and intuitive no-code interface empowered CardNET employees with no background in application development or programming to continue to develop processes autonomously and independently.

Impact #1	The implementation of AuraQuantic platform has brought about significant improvements in CardNET's operations. The platform has enabled accurate and real-time process monitoring, which was previously impossible due to the company's reliance on traditional manual models. The development of processes has also enabled CardNET to establish all the necessary controls to ensure compliance with its internal policy. The CFO and the accounting department have achieved important benefits in terms of data visibility and control. The platform allows the automatic generation of documents for Public Administration, in a matter of minutes, which previously took employees several hours. The connection with government institutions to verify document validity allows the documentation to be verified in real time by different institutions and detects if there is a problem, in order to correct it in the fastest time possible. The platform has also eradicated bottlenecks and delays in the approval of documents and requests by senior management.

Impact #1

The implementation of AuraQuantic platform has brought about significant improvements in CardNET's operations. The platform has enabled accurate and real-time process monitoring, which was previously impossible due to the company's reliance on traditional manual models. The development of processes has also enabled CardNET to establish all the necessary controls to ensure compliance with its internal policy. The CFO and the accounting department have achieved important benefits in terms of data visibility and control. The platform allows the automatic generation of documents for Public Administration, in a matter of minutes, which previously took employees several hours. The connection with government institutions to verify document validity allows the documentation to be verified in real time by different institutions and detects if there is a problem, in order to correct it in the fastest time possible. The platform has also eradicated bottlenecks and delays in the approval of documents and requests by senior management.

Benefit #1	90% reduction in paper consumption
Benefit #2	50% Reduction in purchasing process time
Benefit #3	31% Total time reduction for the customer payment process

Benefit #1

90% reduction in paper consumption

Benefit #2

50% Reduction in purchasing process time

Benefit #3

31% Total time reduction for the customer payment process

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Overview

CardNET's Digital Transformation: From Hours to Minutes

Operational Impact

Quantitative Benefit