Waymark Management GmbH (1C: Consolidation 8 PROF)

As a result of system implementation the principle of processing of requests for funds expenditures considerably became simpler. Process is most automated and is executed along previously configured approval routes. Thanks to it efficiency level in decision making and management of financial flows of the company seriously grew.

Problems of implementation

The Waymark Management company is an operator of the international program of support of Russian-speaking travelers which integrates in itself full range of services in the field of the international tourism.

By the time of system implementation heads of divisions of Waymark Menegement company for cash management and budgeting used tabular editors of "Google Docs" who could not provide reliability and transparency of reports on an absence reason of the uniform standard of data processing. Excel also could not provide the necessary level of analytics: a lot of time was spent on manual entry of data owing to what there were errors, and specialists could not always define from where this or that digit appeared. It, naturally, resulted in difficulties at consolidation of data.

• Optimization of cash flows.
• Reduction of a set-up time of the managerial report and budgeting.
• Creation of the effective tool for the analysis of financial activities of the company.

Process of creation of an automated system represents the stages of works arranged in time and interconnected among themselves.

Stage "Creation of the TsNSI System"

At the first stage one-sided data exchange of the centralized reference books between "1C: Consolidation" and accounting bases was organized.

A system is a source for input of all necessary the centralized normative reference information (CNRI). All is synchronized by NSI with the accounting local systems. Unloading in "1C: Consolidation" is performed daily in the automatic mode.

Stage "Budgeting"

After the normative reference information was brought in a system (planned data were entered manually, and actual data were tightened automatically from local accounting systems), the project passed to the next stage.

In a System two report types were created: "Income and expense budget" for storage of budgets for income and expense items and "BDDS" for storage of the budgets concerning cash flow. The amounts on budgets are stored in the report by: "Article", Department, Project.

It should be noted that "1C: Consolidation 8" gives an opportunity for work as the thin client. In this case, all work happens in the Internet browser, installation of a distribution kit of 1C on the local computer is not required. As a result, limits on the physical location of employees in workplaces are lifted.

Income and expenditure budget

At this stage the managed interface in which the user enters planned data with their further preserving and obtains actual data without a possibility of their change was developed "from scratch". The actual data of all accounting systems arrive from the main register of accounting. After preserving of information on one budget the user can switch to an input mode of data on other budget and continue to work with a form without loss of information.

Budget of cash flow

Sale of this block is similar to the "Income and expenditure budget" block.

Planned data determine amount-based borders by above-mentioned measurements by the budget of cash flow for the period on which control of the amounts in requests for expenditure of means at a stage Treasury is made.

As a result of the BDSS forms and the income and expense budget forms developed in a system, an opportunity to enter planned data on the basis of the obtained actual data for earlier periods and to perform the plan-fact analysis allowing the client to increase considerably degree of controllability of the company was had.

Stage Treasury

At a stage Treasury tuning of work with requests for a funds expenditure, setup of reconciliation procedures of requests, development of the analytical report on the status of requests (for what amount of requests it is made how many it is satisfied how many it is paid), development of the analytical report on payments was performed: planned, actual and setup of access rights.

Process of formation of requests:

• Element marked spiskaneposredstvenny input of requests in the 1C: Consolidation 8 system.

The request is registered by formation of the document "Request for a Funds Expenditure". In the request controlled indicators which role is executed by planned data BDDS which inform on exceeding of the set limit are displayed.

The Superuser function thanks to which carrying out the request with exceeding of controlled limits is possible is provided in a system. Also the document it is possible to edit before sending it on approval.

• Approval and the approval of the requests Initiator (any user of a system) creates the request, receives notifications on the status of request by e-mail.

The director (the specific user of a system) by means of selections in the magazine of requests can see all requests to approval. Can transfer the request to the status "Is approved" or "rejected", having left the corresponding comment.

• The financial controller checks the request for compliance to the budget and makes the decision on transfer of the status of request "On payment" or "Is postponed".

• Formation of payment orders

Payment orders form automatically on the basis of the requests which were approved and placement: the relevant documents "The request for a funds expenditure" is transferred to a status "On payment", and the initiator receives the notification. The present possibility is given by the reference book "Register of Payment Orders".

Results

Thanks to the created TsNSI system, the configured mechanisms of formation of an income and expense budget and BDDS and also drawing up analytical reports, the company management had an opportunity to quickly obtain actual data, to control expenses and to predict further business development.

For the staff of finance divisions all resources for the analysis of payments, control of the set limits, drawing up payment schedules and planning of payments in the shortest terms were also created.

As a result of implementation of an automated system of budgeting and treasury it was succeeded to implement assigned tasks and to receive the effective instrument of financial and economic management.

Comments from project participants

Dmitry Malugin, project manager: "It should be noted rather high flexibility of a system for the solution of private tasks which can result from organizational or structural changes in group".

Denis Klyuchnikov, chief financial officer of Waymark Management company: "On a project result the Waymark Management company received the effective instrument of financial planning and cash management. In our company process of approval and control of execution of payments (the block Treasury), budgeting is completely adjusted. Data on groups of the company are consolidated in the unified information system of TsNSI".