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
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.
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.
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.
Qualitative changes
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Unified rules for reporting and planning have been developed
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Received transparent planned and actual reporting in a single system
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It is now possible to manage prices and standards
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We automated the budget model and set up budget interconnections based on flow charts
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Reduced budgeting time and the number of errors
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IFRS reporting: audited, easy-to-construct transformation statement
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We received a forecast of results according to the marketing year
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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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