Background
Project progress
As part of the project, we developed a detailed methodology, automated data collection and analysis. We set up effective planning and budgeting, and made management analytics understandable. The need to use Excel was eliminated.
A model of management accounting was created, which includes the structure of CFA, P&L, Balance, etc. Key management accounting classifiers were developed and their mapping with accounting directories was worked out. The rules of data migration from accounting systems to a single base for consolidation were also defined. Accounting requirements were approved and changes in accounting systems were controlled.
A budget model has been created, where each manager is responsible for his/her own items and understands the methodology of their calculation. Multi-scenario: the system takes into account data from different scenarios (annual, operational) and generates reports on actual data and plans. Managers control the financial situation by planning income and expenses for their items and monitoring deviations of the plan from the fact.
Organised daily data collection in a single database, where various proformas for additional accounting (reclassification of certain items, allocation of indirect costs and others) are set up.
All final reports (CashFlow, P&L, Balance) have been set up and verified, which can be detailed for any management analytics. User training, instructions and necessary technical support were provided.
Results of ABM Finance implementation
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Established a unified financial management methodology
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Automated the management reporting system. Top management has access to accurate and understandable reporting with the necessary analyses
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Automated budgeting system. Efficient management of income-expenses and cash-flow at the planning stage
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Management and investors benefit from transparent, timely reporting with the necessary analyses
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The information system is ready for the company's growth and development
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