The Sveza holding unrolled the system of corporate budgeting

On April 30, 2014 the consulting company Columbus announced project implementation for the SVEZA group and start in operation of a system of corporate budgeting on the platform of the IBM Cognos TM1 software product.

Project Tasks

Consultants of Columbus were faced by a task - to make planning process and budget managements the simplest and transparent for all divisions and the management of the companies.

Earlier employees of "SVEZA" used standard means of Excel for budgeting and faced a set of problems. Labor-consuming manual transactions were followed by duplication, there was a loss of data, there were errors in calculations. As a result, process of acceptance and execution of management decisions slowed down.

The management of "SVEZA" came to need of reorganization of model of budget management and consolidation of key processes of corporate planning within one information system. As the software product the specialists of consulting company Columbus selected from quality of the partner of the project offered IBM Cognos TM1.

Project Progress

Implementation took about a year. As a result of "SVEZA" together with consultants Columbus created the full-fledged system of budget management which meets its basic needs. A system provides unity of formation of budget data on all divisions of group, increases transparency of calculations and allows to avoid manual adjustments.

Project Results

The solution Columbus on the basis of IBM Cognos TM1 covers a full stroke of corporate business planning of group: calculation of sales budgets, productions, product costs, costs for materials, compensations, overheads. The model of budget management implemented in IBM Cognos TM1 considers complete structure of the centers of the financial responsibility "SVEZA". Collecting, consolidation, adjustment of budget data are organized via the uniform web interface.

"After start of IBM Cognos TM1 we purchased necessary tools for review and the approvals of budget data at all levels of the centers of the financial responsibility. Now financial divisions of the SVEZA group work by the uniform principles. We saved ourselves from labor-consuming manual transactions. At the exit we receive budget forms with due detailing of indicators. Created the budget of 2014 of "SVEZA" already in a new system", – Elena Stolyarova, the leading economist of "SVEZA" noted.