The Moscow school of management completed an implementation project of a system of budget management

The SITRONICS Information Technologies company completed the project of process automation of budget management, collecting and consolidation of financial statements in Moscow School of Management Skolkovo the implementing solution Oracle Hyperion Financial Management.

Solution

At business school the decision to create a single system of strategic planning, forecasting, consolidation of the financial and management reporting was made. The SITRONICS Information Technologies company became the contractor of the project. As the platform for implementation of a system the complex of business applications Oracle Hyperion Planning and Oracle Hyperion Financial Management was selected.

Implementation

The project at SKOLKOVO business school became for SITRONICS IT (Russia) the first in experience of implementation of Oracle Hyperion in the field of education. The system created by a project team SITRONICS IT had to cover all enterprises and the organizations entering into group of SKOLKOVO business school and to provide a possibility of budget management, preparation of the audited and management reporting in the MMRP format (Monthly management reporting package). Besides, within this project it was required to develop a flexible solution for budgeting of staff expenses.

Project works on creation of a budgeting system and financial consolidation in SKOLKOVO business schools are carried on two main stages. During the first stage specialists SITRONICS IT implement implementation of an automated system of collecting and consolidation of financial statements taking into account individual approach to collection of data on 7 enterprises of group of SKOLKOVO business school. The special gateway of import of data from the system of 1C Enterprise to Oracle is developed for four organizations keeping account in 1C. For other organizations the templates of loading of primary data allowing to import information from the tables Microsoft Excel are created.

In view of specifics of the educational sphere, the non-standard mechanism of removal of intra group transactions by segments School and Campus, taking into account determination of indirect costs on training programs is developed for SKOLKOVO business school, research the centers, accommodation, a power supply, the parking, etc. Besides, within the first stage of the project there were successfully sformirmirovany audited and managerial reportings.

Development of methodology of budget management and automation of a budgeting system of SKOLKOVO business school, including automatic formation of the cost budget on personnel by employees became the main objectives of the second stage. The SITRONICS IT command developed and implemented the complex budgeting model allowing to provide quarterly adjustment of the budget on all companies of SKOLKOVO business school. In the created system diversity of costs for products, matrix approval, loading of the fact from 1C, and also a possibility of monthly forecasting of financial performance is provided.

Opinion

"We thank a command SITRONICS for the performed work: now we have an opportunity to quarterly carry out complete adjustment of the budget on all Group "Skolkovo" without essential time and resource expenditure, – Victor Malakhov, the Chief information officer of SKOLKOVO business school comments – We received really flexible and convenient instrument of process automation of budget management, processes of collecting and consolidation of financial statements created on the basis of the solutions Oracle Hyperion. The SKOLKOVO business school in many respects is an innovator in the educational sphere of our country, and the quality of management of internal processes, and also an opportunity to predict a financial result is of great importance for us. Both in education, and in management we try to conform to the international standards, to use the best practices and advanced technologies which successfully proved in the world market".

Results of project works at SKOLKOVO business school Pavel Miroshnichenko, the project manager estimates SITRONICS IT (Russia): "At the moment the project at SKOLKOVO business school is successfully complete and transferred to a stage of a support and maintenance of a system. We carried out all tasks set for us regarding development of a technique of budget management, collecting of the budget for all company, budgeting of staff costs, a problem of formation of the consolidated financial and management reporting. I consider that the project team involved in the implementation course got excellent experience and managed to strengthen significantly practice of Oracle Hyperion in SITRONICS IT.