In Imagine Estate budgeting based on BIT is automated

In November, 2012 specialists "1C: The first BIT" (1C: Accounting and Trade) BIT: Finance.standard " completed the project on implementation in Imagine Estate of own industry solution ". The system put into operation provided to the enterprise centralization of treasurer budget implementation. It gave the chance in the automatic mode to perform data exchange between all groups of holding; keep account of cash flow on different projects; approve financial transactions at all stages of maintaining transactions; perform the multiscenario analysis of financial attractiveness of the organization. As a result it was succeeded to increase the general control over financial transactions of managed companies, to stop inappropriate use of money, to considerably lower operational labor costs and also to increase quality of forecasting.

Prerequisites of the Project

Imagine Estate Group is the young actively developing company of a full stroke of activities for placement of investments into a commercial real estate and object management. The Russia's first developer consolidation granting to the investors the independent right to choose complexity of the implemented project. Its client portfolio contains 100,000 sq.m of the performed, under construction and designed projects.

Before automation of a system of the centralized treasury of Imagine Estate Group actively used spreadsheets. Data were entered in the register manually after the long and labor-consuming procedures of their collecting, processing, vising and consolidation. Paperwork and the risk of emergence of errors integrated to it because of the person not in the best way affected organization activity. With respect thereto, the company management made the decision on creation of a modern automated system which will provide effective management of finance of all divisions of holding in a foreground mode.

Project Progress

The program "BIT: Finance.standard " created by employees "1C became the main tool of business process optimization: The first BIT" (1C: Accounting and Trade) on the 1C:Enterprise 8 platform and having the certificate of "1C: Compatible". The choice was caused by the low cost of a product and existence of necessary functionality. The developer company acted as the partner in implementation. Main objectives of system implementation "BIT: Finance.standard " became:

• Creation of the centralized treasury with a possibility of universal exchange of payment documents with the accounting systems which are applied in the organization;
• Maintaining the end-to-end cash accounting on projects;
• Input and approval of agreements and requests for funds expenditure;
• Reporting about payments (receipts) of money, in different cuts.

Within project implementation 1C specialists: The first BIT performed detailed data analysis about Imagine estate affiliated enterprises. On the basis of it the mechanism of unloading of documents from "BIT: Finance.standard " in the 1C: Accounting 8 configuration was developed; and also forms of the main documents of customer company are changed. It allowed to configure the greatest possible quantity of the autofilled fields that made a system simple and convenient. The personnel of Imagine estate could be convinced of it even before project completion. All users received detailed instructions. For the greatest effectiveness training took place in the groups separated by the principles the main objectives / basic knowledge.

Project Results

After automation the following positive trends were outlined:

• Dynamics of business improved. Thanks to automatic distribution of requests by responsible persons process of approval of documents became simpler, time for operations on settlement with partners was reduced to 1 day.
• The efficiency of use of financial and labor resources increased. Automatic collecting of actual data provided transparency in management of finance and considerably simplified work of personnel.
• Due to increase in forecasting accuracy, by means of use of the plan-fact reporting, the investment attractiveness of the company increased.

Project deliverables are commented by the chief financial officer of subgroup of Imagine Estate of Profitable Management LLC Belolipetskaya E.S.: "According to the results of implementation the centralized system of approval, uniform on all group, and control of payments is created. When forming the request by the initiator, a system in the automatic mode sends it for approval to the responsible person. As a result the efficiency and transparency of carrying out payments increased. Thanks to the configured system mechanisms, the possibility of control of cash flow on projects appeared. For obtaining actual data exchanges with accounting accounting systems are organized. Process of collecting of actual data is automatic. Thanks to harmonious combined actions of group of specialists "1C: The first BIT" (1C: Accounting and Trade) and the staff of Imagine estate was succeeded to process a big array of information in the shortest possible time and to successfully implement the software product. We find it possible to recommend the company "to 1C: The first BIT" as the partner in automation".