R-Style Softlab automates processes of budgeting and preparation of IFRS reporting in BTsK-Moscow Bank LLC

Due to the need to increase efficiency of process of budgeting and also to increase transparency and a detalizirovannost of the management reporting and reporting under IFRS, BTsK-Moscow Bank LLC made the decision on acquisition of the system scalable analytical tool implemented on the platform of the data warehouse. For accomplishment of these tasks by the management of bank was the choice for benefit of a software package of IAS RS-DataHouse and business applications on its basis — "RS-DataHouse is performed: Budgeting" and "RS-DataHouse: IFRS". The choice of the supplier is caused by a maturity of the solution on both business directions, presence at the company of impressive experience of development and deployment of information and analytical systems. The project in BTsK-Moscow Bank LLC will include creation of HD for consolidation, reconciliations and enrichments of primary booking data, data on agreements and transactions from the accounting systems of bank. Then based on HD business applications on budget planning, execution of the estimate AE (administrative expenses), preparation of the management reporting and also reporting under IFRS will be unrolled.

Now the budget model of BTsK-Moscow Bank LLC includes two measurements: in the directions of business and on the centers of financial accounting. After implementation of business applications of the software package RS-DataHouse planning and the plan-fact analysis can be performed by products, sales points, currencies, pools of urgency, accounting items and other signs not only in terms of money, but also in natural indicators. Also during the project mechanisms of transfers and allocations will be implemented, and top menedzhement bank will receive the tool for reporting (The consolidated managerial balance, the Report on results of activity of branches, the Report on results of activity of Profit centers, etc.) for the purpose of acceptance of management decisions.

During implementation set of specialized modules of the business application "RS-DataHouse: The IFRS" will cover all process steps — from loading of the necessary ready account given before release. The most difficult stages — calculation of adjustments and preparation of notes for the reporting — will be automatically performed that considerably will reduce labor input of process. The reporting will prepare in two languages: Russian — for regulating authorities and English — for parent bank and investors.

As a result of use of the software package RS-DataHouse management of financial flows of BTsK-Moscow Bank LLC will become more effective that, as a result, will allow to offer clients of bank the most modern products, at the same time providing its top management and shareholders with up-to-date analytical information with evident data visualization.