Nezavisimost Group implements a budgeting system on the Oracle platform

The Nezavisimost group completed an implementation project of an automated system of budgeting and formation of the consolidated statements. The information system is constructed on the basis of the solutions of performance management of the enterprise entering the Oracle Enterprise Performance Management (EPM) System complex.

Directly

The project covered all business directions of Nezavisimost Group: new cars and service, cars with a run, body production, "Independence Financial service" - it was also implemented by a team of specialists of LANIT in 9 months. Implementation of an information system on the basis of Oracle EPM System allowed to automate activity planning, data collection and preparation of the consolidated statements according to international standards (IFRS) and also preparation of the management reporting.

On the basis of the solutions entering the Oracle EPM System complex were automated:

• data loading on transactions from an accounting system,
• transformation of the loaded data in the IFRS standards,
• broadcast of data in reporting currency,
• reconciliation of an intra group remaining balance and turnovers.

The solution for management of standardization of the financial data Oracle Hyperion Data Quality Management provided a possibility of viewing in the single interface of a system of the aggregated postings of an accounting system from which articles of IFRS are created. At the same time the system of consolidation of the financial and management reporting Oracle Hyperion Financial Management allowed to solve a problem of formation of the consolidated statements, both at the level of Group in general, and at the level of operating and geographical areas.

Before implementation of an automated system formation of the financial and management reporting in Nezavisimost Group was performed using standard office applications. System implementation allowed to create the uniform data warehouse for preparation of the management reporting. For today by means of a system in the regular mode the consolidated statements according to IFRS of Group and the management reporting is prepared and also the budget for 2011 and 2012 is created.

Opinions

Oscar Akhmedov, Chief executive officer of Nezavisimost Group: "The implementation of new technologies directed to increase in level of effective management of operating activities is one of strategic priorities of Nezavisimost Group. Operational formation of transparent financial statements and deep structural analysis of business processes positively affect investment attractiveness of the company and help us to develop with maximum efficiency, including, to perform expansion to regions. Cooperation with reliable partners with impeccable reputation allowed Nezavisimost Group to implement the project, important for us, in the shortest possible time and to confirm the status of the automobile retailer with a hi-tech management system".

Andrey Kuzin, chief financial executive of Nezavisimost Group: "Implementing solution together with a command of LANIT allowed to reduce significantly labor costs by collecting and transformation of reporting data, to increase quality, transparency and efficiency of preparation of the management reporting. The created system on the basis of the leading solutions of Oracle for performance management completely covers our needs for process management of budgeting and preparation of the consolidated statements".

Pavel Goryansky, director of department of management systems and consulting of LANIT: "Implementation of an automated system on the Oracle EPM System business platform will allow the management of Nezavisimost Group to obtain quickly management information and to analyze results of activity of the business directions of group. It is important that the created system integrated all types of the reporting in a common information space and provided comparability and data consistency".

Olga Belovolova, director of the department of business applications of Oracle CIS: "We are glad to welcome the leading Russian car dealer among most innovative companies improving management on the uniform business platform. Oracle EPM System provides support of all cycle of performance management. And the project success confirms that the professional approach of management of the company directed to increase in efficiency of internal processes of management in the conditions of cost reduction brings notable result and allows to pay back quickly the investments made in IT".