Evrosib (Monolith: A configuration for preparation of consolidated financial statements according to IFRS)

From the middle of the 2008th year in Evrosib Group the consolidated management reporting according to IFRS prepares using the specialized solution from Monolit-Info — "The MONOLITH: A configuration for preparation of consolidated financial statements according to IFRS". The stage of trial operation of a system came to the end with successful preparation of the reporting for 2008.

The project of automation of process of formation of the consolidated management reporting in Evrosib group began in April of the 2008th year after the Monolit-Info company became the winner of the tender. In the choice of the software product and Monolit-Info company as consultant and integrator the essential role was played by experience and the successful practicians who are saved up Monolit-Info in 15 years of work on process automation of transformation and consolidation of financial statements.

Preparation of the consolidated management reporting of group on IFRS for the first half of the 2008th year and, further, in 9 months of the 2008th year and 2008 in general became the first result of a stage of trial operation of system implementation.

Andrey Vladimirovich Pokrepa, the chief of the department of economic controlling of Evrosib Ltd, Corporate center of group, so estimates efficiency of the tools developed Monolit-Info:

"The solution from Monolit-Info allowed us to reduce terms of holding procedures for consolidation of reporting these all companies of Group from 2 weeks to 2-3 days, including time for reconciliation of calculations. Along with the consolidated management reporting according to IFRS on Group in general for the management the combined management reporting according to IFRS on certain business lines prepares. Earlier this task borrowed almost as much time, as preparation of a packet of the consolidated management reporting on Group.

In general, experience of use of the solution from Monolit-Info proved correctness of the choice made by us a year ago — process of preparation of the consolidated management reporting became more transparent and is less dependent on certain contractors that increases quality of information and accelerates audit passing".