Komos Group implemented the Prestima system

The NPO Computer company completed in September, 2014 Prestima system implementation in Komos Group agroholding. For years of successful application the centralized treasury provided effective coordination of cash flows of the company.

Tasks

For development of the enterprises as a part of holding the considerable financial investments and strict control of their use were required. Having assessed a situation, the company management made the decision on creation of a system of the centralized treasury. But the complexity of a task was that all enterprises had accounting systems based on which the centralized control of the movement of money could not be built. And replacement of ERP systems on uniform was not a priority task.

Oksana Gordiyenko, IO of the head of department of strategic planning and development of management company: "In the conditions of growth of holding we began to feel a lack of information on where our money and what amount of money hangs up on accounts of the enterprises leave. This information would allow us to develop more effectively the system of redistribution of financial resources between the companies of holding, to select more advantageous conditions for placement of money on deposits and to timely attract the loans for financing of work of the enterprises and also on the investment purposes. In the conditions of null information, necessary for further business development, there was also an idea about system implementation of the centralized treasury".

Choosing a Solution

At the time of the choice of suitable IT solution in holding the DIRECTUM system which integrated all companies in a common information space already worked. Therefore, having considered several options of creation of treasury, the management stopped on a budgeting system and managements of finance of Prestima implemented on the same platform, as DIRECTUM. The implementation project of uniform treasury started in 2009.

Within the project a number of the priority tasks connected with financing of the enterprises was designated:

• approval of payments by responsible specialists of management company;
• automatic approval of payments of the enterprises which are within the approved budget limits;
• organization of process of approval of sverbyudzhetny payments;
• daily control of execution of BDDS of the enterprises and analysis of possible deviations;
• management of a remaining balance on checking accounts of the companies.

Project Progress

During the project remote connection of all enterprises to the Prestima system was organized and 3 groups of participants of process of treasury are selected:

• Staff of the enterprises is specialists of managed enterprises. Perform input of requests for financing in the Prestima system, are responsible for correct registration of payments, correctness of the indication of the corresponding budget items and timely sending payments to management company.
• Approving – the specialists of structural divisions of management company participating in approval of payments of the enterprises.
• Specialists of treasury are the staff of treasury of management company registering payments.

The achieved results

To system implementation of the enterprise daily sent for approval registers of payments in files of the Excel format. Because of use of paper registers control of expenditure of means was opaque and did not allow to manage extra budget payments quickly. The organization of the centralized treasury helped to refuse approval of paper registers. Now the staff of the enterprises enters requests for payment directly in the Prestima system (daily through a treasurer system there pass about 800-1500 payments of the enterprises). Approval and payment of requests happens in the following order:

• The initiator brings the request in Prestima and sends it for approval along a standard route of the DIRECTUM system.
• If the amount of the request is within a budget limit, then the request will be approved automatically, and information on need of carrying out payment on this request arrives to the specialist of treasury.

• If the payment exceeds a budget limit, the request arrives for consideration to the employee of parent organization. Superlimit payments are estimated approving, and then affirm the management of management company.

After completion of process of approval the specialist of economic planning management of management company starts calculation on creation of payment orders. Calculation along with creation of payment orders automatically starts the notification DIRECTUM to the specialist of treasury about need of carrying out payment.

• The specialist of treasury, having received the notification DIRECTUM, unloads payment orders from the Prestima system in Bank client and carries out payment there.

"The main objective of our treasurer system – increase in transparency of activity of the enterprises, – Oksana Gordiyenko comments. – Requests for payment from the enterprises allow any approving in parts to see the direction and purpose of payment. Depending on importance of payments of the requirement to execution of requests gradually became tougher, and process of approval became complicated. For example, in need of payment according to the investment project in the request the specific investment project shall be specified, and at its approval both the quality of maintaining the project, and compliance of payment to a limit in general under the article and on the current project in particular is estimated".

Using the system of the centralized treasury the discipline of budget implementation by the enterprises is estimated. Specialists of the enterprises and management company by means of reports of the Prestima system can carry out operating control of execution of requests and the plan-fact analysis of BDDS. It allows to react quickly to superlimit payments and to keep the enterprises allowing considerable exceeding of the amounts when planning budgets under control. Thus, in Prestima there is a formation of requests for payment, control of limits and execution of BDDS, and in DIRECTUM – approval of the requests, the notification approving about not approved requests and specialists of treasury about need of payment of requests. Effective functioning of uniform treasury is promoted by integration of Prestima with an IT environment of the company: end-to-end automated system (ETEAS) Business Lux and accounting system of 1C. Between systems the uniform reference book of the organizations and information exchange about amounts receivable is configured, representatives of the company integrator reported TAdviser.

Today in Prestima about 90 employees work.

Plans for development

Plans of the company for development of a treasurer system on it do not come to an end. Already now there is a project of the organization of the uniform stop-list for debtors of holding, and in the long term – consolidation of the loan portfolio and management of property means of pledge and the guarantee.