In "Lukoil Oversiz" SBUK-10 system (SAP BPC) is brought into commercial operation

In the first quarter 2016 SBUK-10 system is let into Lukoil Oversiz commercial operation. The project represented upgrade of the system implemented by Saprun company in 2011 from the SAP product BPC 7.5 on SAP BPC 10.1 with completions of a system for reporting not only on US GAAP, but also according to IFRS.

• Project management is Saprun Company
• IS of the project from the contractor - Shatalov D.A.
• Integrators – Saprun Group Ltd, ITPS Group
• The location of the Customer is Dubai, Tecom

Results

• Unification of data collection from assets for the purposes of budget planning and consolidation of financial statements
• Single system of control of accomplishment of processes of budgeting and consolidation
• Use in subsystems of consolidation and budget planning of uniform reference books (The companies, the Chart of accounts, Partners)

Tasks

• Replacement of the SAP SEM systems of BPS and SAP SEM BCS with a single system of consolidation and budget planning of SAP BPC
• Process automation of formation of the consolidated financial and management reporting
• Reduction of processes of consolidation and budget planning to uniform methodology of preparation of the consolidated statements
• Consolidation of processes of preparation of consolidated financial statements and processes of budget planning in one data model
• Unification and optimization of forms of collecting of the actual and planned data from the companies of Holding
• A possibility of work with a System in online the mode

Description of implementation

System implementation of accounting and managerial consolidation allowed to achieve high-quality changes of processes of budgeting and formation of consolidated financial statements according to the increased requirements for efficiency of acceptance of timely management decisions on the basis of the full-scale analysis of financial activities of the Companies of group of Lukoil OVERSIZ HOLDING LTD.