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Quarter Partners
Quarter Partners

Quarter Partners

1991
Company founded
$520 млн
Current investment
$5 млрд
Capital raised
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Background

The company's accounting is maintained in several 1C databases and Excel tables
Operational reports and partial reconciliation of payments occur in the FRS
The payment system has no connection with actual payments in the client bank
Operational reporting is prepared in Excel, data for calculations is taken from the FRS, as well as the client bank
There is no management accounting policy
The data reflected in the final reports is not transparent for the financial service and top management
Consolidation of department budgets is carried out manually
There is no unified electronic archive of documents

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.

01
Development of a unified financial management methodology

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.

02
Automation of money management processes

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.

03
Automation of budget management

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.

04
Automation of another management fact

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

Qualitative changes

  • An integrated treasury, budgeting, management accounting and reporting system was created
  • We are able to manage cash flows and automatically track budget execution
  • Management fact and budgeting analysts are unified, which makes it easy to compare planned and actual data in reporting
  • Reduced labour intensity of report preparation, increased efficiency and quality of reports
  • Received transparent, timely and comprehensive project reporting
  • The company received an effective business management tool
  • 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
  • After the project was completed, the cooperation continued under a corporate support agreement

Customer feedback

Oleksandra Fursenko

Chief Operating Officer

«We are grateful to the ABM Cloud team for their comprehensive approach to the work. All project goals have been achieved. Thanks to an individual approach, the nuances of the money management, budgeting and management accounting system and all user wishes were taken into account. The system is a unique platform and is the only source of all data. This allows not only to forecast financial results, but also to make timely decisions due to the prompt analysis of deviations. The reporting is audited, analytical, and flexible. As a result of the project, we received a real business management tool.»

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