Background
Unrelated accounting systems
Different accounting principles and charts of accounts
Management reporting and consolidation of data based on IFRS principles were generated in Excel
Lack of single unified analytics
Reports are not transparent, there is no connection with primary documents
Lack of control over the work of the accounting department
Project
First of all, the task was to unify all accounting principles and analytics, combine data from different systems and set up clear summary reporting for the management.
Methodology
The financial structure of the company is developed. Accounting, management and tax plans of accounts and reporting forms are created. A unified management accounting policy has been approved.
Payment centre
Initiators are now able to enter payment requests into a single system.
Automatic checking of budget limits and formation of payment registers has been set up. Multilevel co-ordination and automatic generation of payment orders have been implemented. Integration of payments with the client-bank system has also been implemented.
Planning
Budgets are entered into the system according to regulated deadlines. Managers are able to control and adjust them if necessary. Automatic generation of budgets in the context of projects has been implemented.
Absolute data consolidation has been set up.
Results of ABM Finance implementation
Qualitative changes
-
A single integrated information system has been set up
-
Timeframes for reporting have been shortened
-
Improved reliability of output data and credibility of management reporting
-
Budgets are monitored and automated reporting is performed
-
Top management quickly reacts to budget deviations and makes informed management decisions
![Icon white](https://abmcloud.com/wp-content/uploads/2024/04/icon-white-5.png)
![Icon white (4)](https://abmcloud.com/wp-content/uploads/2024/04/icon-white-4-1.png)
![Icon white (5)](https://abmcloud.com/wp-content/uploads/2024/02/icon-white-5.png)
![Icon white (1)](https://abmcloud.com/wp-content/uploads/2024/04/icon-white-1-1.png)
![Icon white (6)](https://abmcloud.com/wp-content/uploads/2024/02/icon-white-6.png)