Oracle Hyperion Financial Management in the GMS Group

Specialists of LANIT implemented an information system on the basis of Oracle Hyperion Financial Management (HFM) in machine-building and engineering holding "GMS Group". This solution allowed to automate processes of data collection of the enterprises of group, transformation and consolidation of financial statements according to international standards.

Until recently by preparation of financial statements of group the different resources and software products requiring final consolidation of financial information by means of processing of a large number of spreadsheets were used. It led to additional finance costs and increase in term of preparation of the document. For the purpose of optimization and, first of all, process acceleration, management of Group made the decision to automate process of preparation of financial statements.

The system of consolidation of the financial and management reporting Oracle HFM most of which fully answers assigned tasks was selected from an analysis result of the solutions presented at the market. The GMS group attracted LANIT company to implementation as one of the most experienced in this direction having the status Oracle Platinum Partner.

In the project progress special attention was paid to a stage of trial operation during which specialists of LANIT provided user support and system administrators when forming the consolidated statements for the first quarter 2012.

System implementation of Oracle HFM allowed to reduce time necessary for preparation of the reporting under IFRS. A new system guarantees integrity of model of consolidation, provides transparency and simplifies audit of the prepared reporting. The implemented system is rather flexible and allows to prepare the reporting in case of change of structure of group and also has a possibility of further development.

Vasilevsky Mikhail, CIO of the GMS Group: "System implementation of consolidation of the financial and management reporting Oracle HFM which preference is given by the largest companies of Russia and the world will allow Group to close a financial period in shorter terms, to cut down auditing expenses and to react quickly to the changing requirements of financial accounting. For the GMS Group it will become the new competitive advantage allowing to increase efficiency of financial services and the company in general".