Background
Management accounting system needs to be streamlined and modernised
The need to optimise the architecture of databases and exchanges between them to obtain a consolidated fact
The need for timely reporting on cash flows, balance sheet, profit and loss
Reporting consolidation is done manually
You need to automate budget planning
Lack of plan-factual analysis in a single system
Project
The aim of the project was to create a unified automated system for generating a package of necessary management reports, both consolidated for the group and separately for each company. The project also included the automation of budgeting and plan-to-fact analysis and the approval of payment requests.
Management accounting and consolidation
An accounting policy was developed that meets national standards and the company's internal requirements. Two charts of accounts were created for accounting and management accounting. A mechanism for automatic translation of accounting data to the management circuit was set up. A posting scheme was developed to automatically exclude intra-group turnover for consolidated accounting. Content accounting (programmes/films/serials) was consolidated with the exclusion of internal markups.
Budget planning
The project teams worked out the scheme and procedure for budgeting, and developed forms for entering planning information for each unit. Two main budget scenarios were envisaged: an annual and a revised plan. All possible budgeting procedures were automated.
Payment calendar
The scheme of the business process of payment approval and payment is described. The proforma "Contract Card" was developed, which contains all the planned information under the contract. A document for entering a monthly payment plan has been set up. A uniform form "Application for Payment" was developed for all organisations. Based on the applications approved by the CFO, completed payment documents are automatically generated.
Results of ABM Finance implementation
A unified automated information system was created
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Consolidated financial and management accounting data
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Information exchanges between different databases are set up
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Management receives operational management reports both separately for each organisation and a consolidated report for the group
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Budget planning is automated, budget formation is carried out in a single database, and data is collected using unified input forms
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The system allows you to conduct a planned and actual analysis of management reporting both separately for each organisation and consolidated for the group
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Automated payment registers are set up
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Paperwork has been eliminated
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The company has an operational Cash Flow Statement broken down by items, CFR, and applications themselves
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Improved financial discipline and increased efficiency of budget use
Customer feedback
Tatiana Yermolaeva
Project manager from Inter Group of Companies
"I would especially like to note the professionalism of the ABM Finance project team. The experience they have gained and the flexibility of the system itself allow them to successfully solve quite non-standard tasks. I would like to draw attention to the quick immersion in the problem, understanding of the situation, joint discussion, search for the best solutions, and fairly quick implementation and configuration. At the same time, a systematic approach was always maintained, which in any non-standard situation did not allow us to violate the general principles laid down in the built-in accounting system."