In October 2012 3M in Slovakia experienced a major organizational change when it transformed from a branch office to an independent subsidiary. Since then, our newly formed financial department has taken over a wide range of financial and accounting operations which were not processed locally in the past, including regular monthly reporting. We have been using SunSystems accounting software with its Bank Payment System module for one year already, and we highly appreciate its accuracy and functionality. In the meantime, we can’t imagine our daily operations and monthly closing being faster without it. The Bank Payment System significantly shortens the time it takes to book and match bank statement transactions, both receivables and payables. In both cases, it directly saves transactional costs (bank fees) using the summary payments functionality. 3M has its subsidiaries all over the world. In a CEE region there are two other countries with a similar set-up of financial processes – Bulgaria and Romania in which Bank Payment System was also successfully implemented thanks to its intelligent country-by-country parameters.
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