Background
Complex architecture of information accounting systems
Lack of a clear and transparent financial structure
It is impossible to consolidate accounting and management accounting data
Lack of unified management policy
No IFRS financial statements
No operational plan-factual analysis of cash flows
No automated matching of applications
It is difficult to understand the actual cost of services
Difficulty in obtaining management reports
Project
Comprehensive optimisation of the financial management system made it possible to calculate the actual cost of services and minimise "manual work". The project overcame the problem of diverse accounting systems and the impossibility of real-time accounting. BU data was consolidated for management reporting.
01
Launching the Accounting module
02
Launch of the module Salary and Personnel Management
03
Development of management accounting methodology
04
Automation of management accounting and management reporting
Results of ABM Finance implementation
Quantitative changes
- 300 %
income tax payments decreased for the year
- 4 %
lending rate decreased
+ 250 %
loan portfolio increased
- 91 %
receivables from insurance companies decreased
Qualitative changes
-
A unified database of accounting and management data, payroll accrual was created
-
Unified accounting policy of the company was introduced
-
Established financial structure of the company with clear division of business units/CFR and areas of responsibility
-
Implemented a tool for automated tracking and management of receivables of insurance companies
-
Working capital turnover increased significantly
-
The Company was audited according to IFRS standards, which allowed it to start working with international investment companies
-
Regulations on procurement and tender procedures developed
-
Automated accounting of cost of services, real-time analysis of marginal and gross profit in the context of services/business units/departments
-
Management reporting has been automated
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