EuroSibEnergo automated management and financial statements based on 1C: Consolidation 8

In 2017 the Rice company completed system implementation of 1C: Consolidation 8 PROF in EuroSibEnergo.

Prerequisites

The perimeter of the EuroSibEnergo group includes more than 100 companies. Monthly on group the management reporting is prepared on financial and non-financial performance of work of divisions – production volume and sales of products, number of staff, a specific consumption of natural fuel, etc. On the basis of this reporting execution of the business plan and budgets of the enterprise is estimated, remedial measures are taken, forecasts for future periods are formed. Besides, quarterly, according to requirements of the legislation, the consolidated statements according to IFRS is formed.

In 2015 in capital asset of EuroSibEnergo – Irkutskenergo group – system implementation of 1C: Consolidation 8 was complete. In a project deliverable collecting and comparison of information for preparation of the consolidated statements significantly became simpler. On other perimeter of the companies which did not enter a pilot zone, reports still formed manually using spreadsheets, processes of preparation of the reporting were not unified. On receiving and consolidation of data a lot of time left, existence of a large number of initial tables complicated processing and data analysis. In this connection the decision to develop and replicate this product on all companies "EuroSibEnergo" was made.

Implementation Progress

In 9 months a system was unrolled in more than 300 workplaces in other companies of group.

During the project the methodology of formation of the consolidated management reporting and the reporting under IFRS was standardized, rules of transformation of data are updated. Approaches to obtaining credentials are unified. Access rights of users to a system according to a matrix of roles are differentiated. Visualization of process of preparation of the reporting is configured, means of primary and subsequent quality control of data (Data Quality Management) are implemented. The centralized maintaining the normative reference information is organized. Integration of a system into accounting programs of divisions and information systems of the top level is executed (1C: Accounting 8, 1C: Manufacturing Enterprise Management).

Project Results

The centralized maintaining the normative reference information is as a result organized. On collecting and data validation of divisions 1 day leaves. Reconciliation of intra group turnovers became simpler, terms of its accomplishment are reduced to 5 days. Preparation of the management reporting on more than 80 enterprises of group accelerated almost by 3 times. The quarterly reporting under IFRS under more than 100 companies of group is prepared much quicker. Detailing of data increased: the quantity of indicators in the management reporting grew from 400 to 2000. It helped to strengthen control of operating activities of divisions, allowed to make detailed contrastive analysis of indicators and to obtain deeper data on the reasons of deviations. Totals can be detailed to initial data now.

"The system created on the basis of the solution "1C: Consolidation 8" simplified reporting according to IFRS and the management reporting in EuroSibEnergo Group. Indicators of the reporting became more clear and transparent: each indicator is decrypted to initial data now with an opportunity to trace the movement of data from the specific organization before consolidation for group. The implemented means of data validation allow to find errors in time, to save time by drawing up the consolidated statements". Grigory Popov, project manager Rice

1C: Consolidation 8 helped to accelerate obtaining reporting data and provided high quality of management information. The systemacity of processes is reached and the basis for further improvements is created that considerably affects success of work of any large company". Mikhail Hardikov, chief financial officer of JSC EuroSibEnergo