Background
Project
The client received a comprehensive solution from a single source, based on a single ABM Finance software product that includes both a methodology and automation blocks for money management, budgeting, management accounting and reporting.
Before the start of automation, a management accounting policy was developed and formalized: events on the main accounting objects and a methodology for consolidating management reports were described.
We implemented the Payment Application process, where the stage of approval of the payment application is visible in real time, and payment documents are generated. As well as the Route, Contract and Universal processes. Route – allows you to track payment chains. Agreement and Universal allow you to coordinate any documents.
Forms for entering budgets and reporting were configured within the system. Budgeting is carried out in the context of different scenarios and is prepared monthly and quarterly. Tax burden planning is implemented as a separate block, where data is consolidated by types of taxes\declaration items\organizations.
Since the needs for managing cash flows were previously implemented mainly using the “cash method”, the “accrual method” and accounting sections that were previously absent in management databases were implemented. Special documents were also set up, such as increasing the book value when paying lease payments. There are tools for inventory, movement, sales, write-offs, depreciation, etc.
Results of ABM Finance proceedings
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An integrated treasury, budgeting, management accounting and reporting system was created
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We are able to manage cash flows and automatically track budget execution
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Management fact and budgeting analysts are unified, which makes it easy to compare planned and actual data in reporting
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Reduced labour intensity of report preparation, increased efficiency and quality of reports
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Received transparent, timely and comprehensive project reporting
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The company received an effective business management tool
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A competence centre has been formed that can configure the system independently, which allows it to develop and modify the system to meet different business needs
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After the project was completed, the cooperation continued under a corporate support agreement
Customer feedback
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