Eldorado expands functionality of financial accounting based on SAP

Project duration was 11 months - from March, 2009 to February, 2010. Within the project on automation of financial accounting in Eldorado network the following functionality was implemented:

• Russian accounting standards (RAS);
• International Financial Reporting Standards (IFRS);
• tax accounting;
• management accounting.

As a result of implementation the Eldorado company received:

• the systematized financial accounting at all variety of economic transactions in the company;
• more transparent accounting and the reporting that promotes increase in attractiveness of the company for investors and credit institutions;
• failure from use of a 1C system and use of SAP for Retail as a uniform source of reliable information that allows to reduce costs of the company for support of information systems and to adjust effective solution of a number of business challenges. The new SAP for Retail configuration implemented within the project allows not only to solve business challenges, but also fully to keep in a system financial accounting according to the Russian and international standards now;
• considerable acceleration of the procedure of closing of a financial period (month, quarter, year) that affects efficiency of providing the fiscal reporting in tax authorities and reportings under the IFRS standards to shareholders and investors of the company.

Eldorado uses the SAP for Retail system since 2001. The CIBER company was selected as the partner of Eldorado in 2006 upon transition to version 5.0 thanks to the Russian and international experience of the company in automation of retail networks (among clients - Euroset, Tape, Ultra Star, "Ol! Buzzing", Victoria Group, "your House"). The project was implemented in all regions of presence in most short time. In only 8 months (March, 2006 – November, 2006), it was succeeded to pass to a new system and to overcome all restrictions imposed by the previous version. As a result the following business processes were automated: management of goods flows and sales; retail business processes; accounting and management accounting; operational logistics; sales data management; data exchange infrastructure; management of a product line; business information warehouse.

In 2009 the management of Eldorado made the decision on need of implementation of financial accounting for the company. The partner selected the Russian division of CIBER company again.

Eldorado - one of the largest Russian retail networks on turnover and by the number of shops. Success of business of the company is based on accurate coordination of all business processes: since management of shops and information and finishing with exact and timely financial statements in all divisions of the company.

"The Eldorado company already had the strong system of SAP in the field of logistics. Implementation of complete financial accounting, failure from 1C, synchronization of logistic and financial business processes completed efforts on creation of the operational IT platform. Successful interaction of many divisions of business was the key to success. Curators of the project - the vice president for finance Ryan Li and the vice president for operational support Sofya Purdeshova - provided effective management from business. The CIBER company and an internal IT command of Eldorado successfully implemented a new system and provided transition to it with the minimum influence on business continuity", - Artem Natrusov, the Chief information officer of Eldorado company comments.

"Eldorado and CIBER companies connect years of cooperation. In 2006 in Eldorado we implemented a logistic circuit of SAP for Retail. Project tasks which came to the end this year were development of uniform corporate methodology for three types of financial accounting – IFRS, RAS and tax taking into account last modifications in processes of Eldorado company and changes of the legislation, and then implementation in the SAP for Retail system of the principles recorded in new accounting methodology. Consultants of CIBER company not only executed an effective objective, but also simplified work to the staff of Eldorado, having automated their many workflows", - Alexander Niznik, the CEO of CIBER Russia says.