NPF Safmar completed automation of financial accounting and the reporting

2018: Implementation of the software solution "XBRL Factory"

On October 8, 2018 the Sintegro consulting company announced implementation of the complex project on preparation and submission of reports of JSC NPF Safmar. Under the terms of the project the system integrator in September, 2018 completed transfer of financial statements on the XBRL format, and the previous year automated accounting according to the unified plan of accounts (UPA) and industry standards of accounting records (OSBU).

In January, 2018 NPF Safmar signed with Sintegro consulting the agreement on implementation of the software solution "XBRL Factory". Using Factory, the fund in September handed over to the regulator the monthly supervising reporting for August, and in October is going to hand over quarter supervising and accounting records in 9 months 2018. Thus, in 6 months after start of software implementation more than 100 forms of the reporting were completely automated.

"XBRL factory" is developed specially under requirements of the Bank of Russia to the reporting of the non-financial organizations. The program supplements the solution on OSBU implemented in 2017 by NPF Safmar and allows to autocomplete indicators of XBRL from external base of accounting. At the same time XBRL Factory is configured under any information systems, at a high speed processes large volumes of data.

"Regulatory requirements of the regulator on implementation of the XBRL reporting became a call for all industry of non-state pension funds. Work with the program of the partner allowed to implement the project on transition to a XBRL format in a short time. The financial statements were handed over in time and from the first underwent testing in the Bank of Russia". Elmira Chudina, deputy finance director of NPF Safmar

As reported in Sintegro consulting company, for October, 2018 the parties signed the agreement on information and technical maintenance which includes updates for the built-in software and consultation of specialists of integrator, the possibility of further development of a system – implementation of the module of budgeting to the OSBU system is also discussed.

2017: Implementation of the Sintegro OSBU program

In 2017 in NPF Safmar the Sintegro OSBU program was implemented. The solution represents flexible adaptive system of accounting. It allows to prepare and hand over the reporting under OSBU and the EPS standards. A system meets the requirements of the regulator which became effective in 2017 and if necessary can be finished according to the approved regulations and laws.