GMCS will make a transfer of Viru Keemia Grupp on standards of accounting of the European Union

Viru Keemia Grupp AS (VKG), the largest industrial enterprise of Estonia, implements the project on transition to accounting according to uniform standards for the countries of the eurozone. The GMCS company which will provide maintaining in a corporate information system of VKG concern based on Infor ERP LN (Baan IV) of data on finance, logistics and production in new standards acts as the partner in the project.

The Viru Keemia Grupp concern is the largest processor of slate in Estonia and one of the largest chemical companies of the Baltics. Eight enterprises providing production of wide range of products are a part of concern: slate oil, slate gas, bitumen, pitches, different chemicals. To improvement of schedule system and management of plant in 2002 the Viru Keemia Grupp concern attracted GMCS to an implementation project of the Baan ERP system which was successfully implemented in record-breaking short term.

Due to the inclusion of Estonia since January 1, 2011 in a zone of single European currency, the government of the country set certain terms on preparation of transition of accounting of the enterprises to eurocurrency. In October, 2010 VKG addressed GMCS with the following task – to prepare the Infor ERP LN system (Baan IV) for work in uniform standards of accounting for the European Union countries.

"Preparation of information component of business for implementation of financial management in conditions, new to the whole country, is extremely important step. Therefore the enterprise attracted to implementation of this project GMCS company, our partner checked by time", – Lyudmila Paladi, the chief financial officer of VKG Oil (VKG affiliated enterprise) comments.

To avoid delays in production processes, maintaining in an information system of data on stocks should be postponed for new standards in the shortest possible time. Specialists of GMCS together with VKG developed the corresponding technique of transition for the solution of this task. It is planned that within February, 2011 the enterprise completely will pass to maintaining all data into euro.

"The projects similar to that which is implemented by VKG now demand high degree of responsibility both from the contractor, and from the customer. The strategy created jointly with specialists VKG will allow to perform the most operational transition of the enterprise to accounting in the new standard", – Norenko Vladimir, the associate director of department of solutions Infor, GMCS company notes.