"The m of Video Eldorado" was increased by efficiency of financial closure based on the SAP solution

2020: SAP implementation of Financial Closing Cockpit

The M of Video Eldorado group implemented the solution for acceleration of the procedure of closing of reporting period of SAP Financial Closing Cockpit (SAP FCC). On July 9, 2020 the SAP CIS company reported about it. This system allowed the company to automate monitoring of terms of closing, to define and finish "bottlenecks" and also to increase transparency of process and level of the involvement of financial specialists into business processes. The implementation project was implemented in partnership with IBS company and 2.5 months.

At an implementation stage specialists of financial department "M. of Video Eldorado" together with IBS analyzed tasks of all users and developed the detailed plan of steps for closing of the period – about 600 lines. Its loading in SAP FCC allowed to automate coordination of actions of participants of financial closure. Now each user regularly receives from notification system, allowing to carry out in time the task. For example, SAP FCC announces that the closing period comes; that the functionality of the user is deblocked and can be performed; a system will also warn if time selected for each stage comes to an end or already expired, will ask what led to a delay, will inform the line manager on non-performance and its reasons.

Moreover, the centralized monitoring and the analysis of all stages of closing: data preparation, calculations, for accomplishment of charges and postings, "bottlenecks" – tasks which caused difficulties in users allowed to reveal providing primary documents, slowed down process and influenced further reduction of terms of closing. These transactions were finished, automated or abolished. After implementation in the accounting records SAP FCC it was scaled on maintaining managerial.

Financial department in "M. of Video Eldorado" undergoes considerable transformation. The company expects absolutely other level of speed of providing information and its quality. For this reason we increase examination in analytics, technologies, we apply modern flexible approaches to the reporting, budgeting, we become the strategic partner for different departments, but not just supporting function. In this regard automation and centralization of basic functions as closing of reporting periods, allow the company quicker and more simply to carry out these tasks, to reduce manual transactions and to do process by more transparent. Financial specialists are more involved and better understand business, and business, in turn, begins to think how finance, to estimate perspectives and risks, – Konstantin Shiyan, the Head of Department of accounting and the reporting of the M of Video Eldorado Group told.

The implementation project of SAP FCC was implemented quickly, in 2.5 months after start in a system the first closing took place. In addition to design, testing and implementation the command provided user training on work with the appeared functionality, and both specialists of financial services, and the staff of business divisions participating in the procedure of closing. In total about 200 employees of the M of Video Eldorado Group are engaged in process.

Timely and effective monitoring and control of closing of the period – one of key tasks of finance division. It is important that process of closing happened in short terms and to the minimum quantity of manual transactions. Our SAP solution FCC is the tool which supports planning, automation, processing, monitoring and task analysis of financial closure for the organizations. The IT system allows to consider experience of the previous closings, to define "bottlenecks" and to optimize separate processes, – Andrey Goryaynov, the deputy CEO of SAP CIS commented.

We offered good examination that allowed to implement the project. It is important to note participation of key business users "M. of Video Eldorado" in design of the solution, its testing and training, development of a detailed template of the plan of closing and also participation of IT specialists in study of technical implementation of the solution, integration with the existing systems of SAP. Without these factors the project success would be impossible, – Semyon Danilov, the director of the department of corporate solutions of IBS noted.