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Mais

Mais

A leader in seed production in Ukraine. For more than 30 years, in cooperation with French colleagues, we have developed 20 types of high-yielding corn hybrids. Premium seed production is represented by three plants in different regions of the country.
30
Years of experience
3
Factories
20
New types of corn
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Background

Poor quality primary circuit data
Incomparable analytical sections in different accounting systems (Excel, 1C, CRM)
Lack of ability to quickly compare planned data with actual data
The need to exclude intra-group transactions
No possibility to model the financial result and achieve the desired margin
Inability to drill down to the source document
Lack of budgetary control over the CFR, budget lines, fields, crops

Project

01
Automation of the budget planning system

The time required to prepare one document has been reduced. It is now possible to manage planned prices, standards and recalculate planned results. We launched automatic budgeting for materials, equipment, work schedules, etc.

02
Management accounting and consolidated reporting

We implemented the automatic collection of actual accounting information and its transmission, taking into account the rules of management accounting policy. We created documents that allow for the distribution of actual expenses in accordance with the company's internal requirements. We developed the automatic generation of management reports, including plan-to-fact comparison.

03
Implementation of the "Application for payment of funds"

A single payment procedure has been established. All payments, regardless of the amount and purpose, are made only on the basis of approved payment requests in the automated system. From now on, payments are approved centrally in a single register of the CFO of all financial responsibility centres. Budget balances are automatically monitored when payment requests are paid. In addition, payment documents with all the necessary management analytics are automatically generated based on the approved registers.

Results of ABM Finance implementation

Results for Mais

Automation of budget planning, management accounting and consolidated reporting helped to reduce costs and increase cash flow.

- 7 %
Inventory balances in warehouses
-10 %
procurement budget
-15 %
attracting a credit resource

Qualitative changes

  • Unified rules for reporting and planning have been developed
  • Received transparent planned and actual reporting in a single system
  • It is now possible to manage prices and standards
  • We automated the budget model and set up budget interconnections based on flow charts
  • Reduced budgeting time and the number of errors
  • IFRS reporting: audited, easy-to-construct transformation statement
  • We received a forecast of results according to the marketing year
  • Created full control over payments, which reduces the company's losses from misuse of funds

Customer feedback

The Mais team

"We are grateful to the ABM Finance team for promptly responding to our requirements and implementing all our wishes in a quality manner, as well as for their comprehensive approach to the tasks, motivation and focus on the overall result."

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