SDG Business Accelerator Lab - IntelectSoft Company Case

COMPANY PROFILE

BACKGROUND

Year of Establishment 2013 Number of employees 18 Geographically covered area

Republic of Moldova

Objectives for extension:

Romania as a first step, then EU, CIS

Having analyzed the business transactions market of the Republic of Moldova, IntelectSoft Company has determined that multiple processes (manual and electronic) that require a lot of time, human and material resources are part of a daily routine and can be replaced by automatic/digital software solutions. The company focused on developing software solutions that would be integrated easily in existing equipment and technologies, which represents the new growth and development targets of the business with consideration of SDG goals and targets under the SDG Accelerator.

Hence, the solutions developed to automate business processes, provide efficiency and real time accuracy, which save the time of the company and clients, as well as reduce the costs of service provision as compared to legacy approaches now dominating the market.

CONTACT DETAILS

VALUE OF NEW PRODUCT/SERVICE

MD-2051, Alba Iulia 154, et.3, Chișinău, Moldova

In the digital era, each company has to improve its administrative processes, to save time and resources, and improve access to data, which will lead to more informed decisions (risk reduction). IntelectSoft designed a solution - EDX - aiming to simplify the workflow between the providers and recipients of goods and services. The main feature of the system is the enhanced accuracy in a short period of time.

Development Department – (+373) 022 835 312 Web site: www.intelectsoft.md e-mail: info@edi.md

PROBLEM ADDRESSED

SOLUTION PROPOSED

The key issue of manual flow of documents is between the provider and recipient of goods and services, where the probability of human error is significant, and moreover, requires a lot of work time spent on documents. Additionally, it involves the use of paper, which production results in increased CO2 in the atmosphere.

The complains received from clients on multiple human errors during different stages of a business transaction motivated the company to think how to use IT instruments to solve the issues. Using own internal capacities, but also being supported by UNDP through the SDG Accelerator, the new product is now being used by the clients, who no longer complain about the human errors in document and data processing.

Before using EDX, the clients of IntelectSoft were facing numerous processes requiring considerable time and material resources. The process of placing an order and of delivering goods and services is quite difficult and complex.

Irrespective of the size of the business or area of activity, document management processes (from the recipient/client – procurement order, billing and tax invoice; from the provider - payment order, tax invoice) is automated with EDX solution, saving up to 80% of working time, as well as guaranteeing the exclusion of errors by avoiding manual introduction of documents. Also, the EDX system contains an incorporated protocol for data exchange with other accounting systems.

MARKET LAUNCH Since the EDX system is fully integrated in the software systems SalesExpert/ RestaurantExpert/ PetrolExpert, the clients will bear fewer costs in the implementation of software products. Most users of SalesExpert / RestaurantExpert / PetrolExpert are providers and recipients of goods and services. The implementation of EDX solution will hence, facilitate the cooperation between them.

Once the system proves efficient among the existing users, its implementation will be promoted among the clients that use accounting systems of third parties-developers.

APPROACHED SUSTAINABLE DEVELOPMENT GOALS The EDX system improves business processes and ensures their transparency, reducing at the same time the use of paper and other manual process-associated waste. At the same time, it encourages the creation of new partnerships between multiple service providers.

Hence, the solution of IntelectSoft contributes to the achievement of at least 3 Sustainable Development Goals, and namely: a) SDG 9.4 – Build Resilient Infrastructure b) SDG 11 – Sustainable Cities and communities/target SDG 11.6 – reduce the environmental impact of cities c) SDG 12 – Responsible Consumption and Production/ target SDG 12.6 – Sustainable practices in companies d) SDG 16.6 – Effective, accountable and transparent institutions e) SDG 17

– Partnerships for the Goals/ target SDG 17.17 – Encourage effective partnerships

STATEMENT OF COMPANY DIRECTOR Our participation in the UNDP’s SDG Accelerator Programme helped us analyze from different business model perspectives the opportunities that come with the need to also assume risks, it provided us with a forward-looking vision and to act proactively.

We have learnt that it is not the case to wait for opportunities to arise, but to create them step-by-step. In a dynamic society, the only strategy, which ensures your failure, is not taking risks.

Continuous development of technologies motivates us to design modern software solutions that are easily integrated in advanced technologies and equipment that represent the growth and development engine of a business. Moreover, it is a method by which, we as representatives of private sector, contribute to achievement of the Sustainable Development Goals at the country level.

THE INVESTMENT NECESSARY TO LAUNCH THE PRODUCT AND EXPECTED RETURN ON INVESTMENT

POTENTIAL PARTNERSHIPS

The necessary investment to implement EDX by IntelectSoft is the investment in the company’s human resources since it is a software coding company and this just requires

IntelectSoft company is open to partnerships with different governmen-

recruitment of coders with the relevant experience. Hence, to accelerate the launching of the product, additional investment is necessary to diversify the team and its competences, and IntelectSoft is currently working with UNDP to help identify such sources of assistance.

tal agencies, including the e-Government Centre, Fiscal Inspectorate, National Statistics Office, as well as with private enterprises for the development of forward-looking projects and products’ extension to new functionalities and to the new markets.

THE ROLE OF SDG ACCELERATOR IN IMPLEMENTING THE PRODUCT/SERVICE ALIGNED WITH SDG Given our participation in the workshops and extensive brainstorm discussions organized by the SDG Accelerator, we managed to highlight and learn important aspects for strategic and sustainable product design. We analyzed product development barriers and solutions, risks and opportunities to launch on international markets.

The company is also interested in setting partnerships with the Development Agencies to co-create and launch new services on the market that have the goal to facilitate the achievement of the SDGs.