"Tune company" manages finance using Sage ERP X3

"Tune company", legendary Russian record company, implemented the Sage ERP X3 system for conducting management accounting. The contractor of the project — the Energy Consulting group.

Melodiya company implemented Sage ERP X3

Customer

"Tune company" was founded in 1964 as state company on production, storage and distribution of sound recordings. Today Tune not only carefully stores unique musical heritage (more than 230 thousand carriers of sound recordings), but also actively develops in the conditions of the modern market. Partnership connects Tune with the state and public organizations, the Russian business, mass media. A basis of activity of the company is the legislation of the Russian Federation on copyright and the neighboring rights. www.melody.su

Tasks

The business development of Tune Company connected with significant increase in a circle of owners and partners resulted in need to receive accurate control over expenditure of means and to quickly prepare the consolidated management reporting in a set of analytical cuts.

For the solution of these tasks the customer stopped the choice on a full-function ERP system for medium business of Sage ERP X3, one of strengths of which is effective support of conducting management accounting.

Solution

A system fixes in a convenient format all movements of cash and also all settlement with partners and employees. The customer in each timepoint sees what monetary means — free, reserved or planned to receiving — are located by the company in general, with breakdown by bank accounts.

A system allows to analyze debt on the author or group of the owners integrated by the general project — creation of the musical collection, to analyze tax arrears, to lease, the salaries of employees. On employees the customer can trace, for example, not just the fact of write-off of funds for salary, and see salary in general, together with its such components as the PIT. If salary is paid from funds for payment to suppliers, in a system it is reflected as deficit on payment to suppliers.

Result

In a project deliverable time of formation of the summary reporting was many times reduced. So, if on obtaining the reporting about ten days left earlier, and then some more days needed to be spent for data of the reporting, then now all necessary management reporting is prepared in the automated mode.

The customer got access to the relevant and consolidated management information with an opportunity simply and quickly to prepare the summary reporting. The staff of financial service and heads see a relevant picture of settlings, including with each owner, employee and supplier — in their hands all history of settlement with business partners.

Andrey Krichevsky, CEO of Tune Company: "Thanks to the project we understand not only under what articles there are expenses, but also who, to whom and how many should. We see each spent kopek: from what source it was taken and where it was spent. It is very simple to receive the summary report now: what took several days earlier takes no more than a minute now".

The Sage ERP X3 system is integrated with the corporate application of accounting and tax accounting and also the application for payroll and conducting personnel office-work. The project is executed within four months.

About the Sage ERP X3 system

Sage ERP X3 is a full-function management system for medium business and regional divisions of the international companies. More than ten years Sage ERP X3 helps to solve effectively specific problems of the enterprises working in production, distribution and the service industry. 4,500 clients already selected Sage ERP X3 for convenience of using, simplicity of implementation and profitability from 100 countries of the world. The system created by the British company Sage Group is completely localized for work in Russia. A partner of Sage Group in implementation of Sage ERP X3 in Russia and the CIS countries is the Energy Consulting group. www.sageerp.ru

Contractor

Energy Consulting is the Russian consulting group rendering a broad spectrum of professional services in audit area according to the Russian and international standards, finance and legal consulting, due diligence, assessment, management consulting, creation of information management systems, information security. Energy Consulting founded in 2001 is a member of the international auditor network HLB International, enters into HLB Russian Group. www.ec-group.ru