IBS implemented the system of budget planning and control in VTB 24 bank

March 4, 2015. The IBS group announced project completion of system implementation of budget planning and control of expenditure of means based on SAP solutions in VTB 24. In a system the estimate of bank for 2014 was created and control of its execution was exercised.

Choosing a Solution

For system implementation based on an open competition the IBS company having extensive experience of implementation of the systems of financial planning in large geographically distributed corporations was selected. As the platform for implementation of a new system by IBS company the complex of the SAP products BI and SAP ERP FI-BCS was offered. Such solution is seamlessly integrated in the single system of management of bank constructed based on SAP solutions. IBS could show practical examples of successful implementation of budgeting systems on this platform for customers in Russia and proposed on tender the most effective solution taking into account all requirements and features of bank.

Project Progress

Within creation of a system of budget planning and control planning process of operating expenses, administrative expenses, staff expenses, formation of the summary estimate and the estimate IFRS, formation of the estimate in a format of VTB was automated. Basic functions on formation of the estimate of bank were automated within the first six months (from May to November, 2013) that allowed to conduct planning of expenses for 2014 already in a new system. Then within works of the first stage function of active control of budgetary funds was implemented and started.

At the second stage of the project which was completed in November, 2014 the functionality of formation of passports of territorial subdivisions, process of an application campaign and calculation of requests for requirements taking into account qualitative and quantitative indices of divisions is automated, and the mechanism of formation of different scenarios of the budget is implemented. The budget campaign of 2015 is waged in a new system taking into account the implemented functionality of the second stage and collecting of requests from all structural divisions of the customer.

Result

On project deliverables the customer could increase the accuracy, transparency and quality of formation of the estimate of bank due to use of uniform mechanisms of planning at all its levels. Labor costs of staff of financial department were reduced by control of expenditure of means and preparation of the analytical reporting under the expense forecast and the plan fact to the analysis. Analytical reports are available in a system online.

Alexander Melenkin, director of financial department, VTB 24: "We consider that implementation of the automated means of support of business processes – the important instrument of quality improvement of corporate management in bank. The implemented system allows us to manage more effectively financial resources and to precisely control expenses of bank. Experience and practices which IBS has allowed us to implement a system in a short time and to wage a budget campaign of 2014 in a new system and in full accordance with the adopted regulations. The budget campaign of 2015 is also successfully waged in a system with assistance of consultants of IBS".

Elena Sayapina, director of department of financial and economic solutions, IBS company: "Budgeting for the multifilial and geographically distributed companies – one of the most demanded solutions proposed by us in the market. For VTB 24 bank we implemented a system based on SAP products which is earlier tested in projects for some other customers. In particular, thanks to it we could provide implementation in a short time and with required quality. We consider that the automated systems of budgeting of new generation providing a big set of control and analytic functions will be widely demanded in large and medium-sized companies".

Representatives of the company integrator reported TAdviser.