VTB 24 implements the system of budget planning

The IBS group started implementation of the systems of budget planning and control in VTB 24 bank. The project will be executed on the platform of SAP solutions, the press service of the company reported on July 23, 2013. It is supposed that the cycle of budget planning for 2014 will be prepared in a new system.

Start of Project

Svetlana Balanova, the CEO of IBS company, noted: "Any modern bank is saturated with information systems, but not all from them conform to requirements of time and actual scales of business – in many banks of a system work for 10 years and more. Therefore our many customers come to us with a task to transfer the business processes to industrial platforms of automation. IBS has wide experience of implementation of budgeting systems in the large companies not only in the financial sector, and in our portfolio tens of implemented projects such. It also caused the choice of IBS as the partner. Experts of IBS not only showed deep examination of the company, but also showed the operating implemented systems at the customers – in particular, the system of financial planning and control in Mail.Ru Group company".

Tasks

On the SAP BI platform it is necessary to automate business processes of collecting and consolidation of budget data, to create convenient mechanisms of interaction of employees during budget process, to integrate a budgeting system with the operating accounting system of bank on the SAP ERP platform for providing mechanisms of budget control. Also among project tasks more accurate regulation and formalization of process of budgeting.

Project Progress

The project is begun in June, 2013 and will come to end in October, 2014. At the first stage, by the beginning of a budget campaign of 2014 (fall of 2013), collecting, consolidation, approval of data when budgeting will be implemented. At the second stage, in 2014, integration with SAP ERP, budget implementation control "plan fact", scenario modeling will be executed. In a system about 300 users – participants of budget process will work.

Alexander Myamlin, the associate director of financial department of VTB 24, emphasized: "We want that our economists did not collect documents, control of approval and other routine transactions, and could give more time to the analysis and forecasting, optimization of financial performance of business. We calculate that we will be able more systemically and it is rational to build our process of budgeting and to lower labor costs of employees".