Siberian Mining and Metallurgical Company (SMMC) (1C: Holding Management)

2021: Implementation of 1C: Holding Management

Prior to the implementation of the 1C: Management 8 System, the main challenges were:

• A mixed way of managing cash flows due to the lack of a central treasury tool;
• labor-intensive process of manual tracking of counterparty/contract debt limits for the Group;
• the time-consuming process of manually tracking the spending of PDDS limits by the Group;
• The labour-intensive process of collecting management reporting on DDS from several systems across the Unit;
• Lack of business-specific detailed operational reporting due to lack of necessary analysis of the Group;
• Lack of a tool to track performance discipline as part of the approval of CP expenditure requests.

The objectives of the project were as follows:

• Centralization of the process Treasury in the Group of Companies in a single information system;
• Organization of master data management process for key treasury directories;
• Organization of the process of centralized loading of financial plans, centralized setting of limiting values;
• Organization of storage and transfer of data on counterparty/contract debt limits;
• Organization of the process of obtaining information on the fact of mutual settlements from accounting systems, separate accounting and management debts;
• Creation of a tool for flexible adjustment of matching routes and an access role matrix;
• Integration of the central treasury system with the contract harmonization system (1C: DOs), as well as with the accounting systems of organizations;
• Eliminating the need for double entry of cash flow information;
• Ensuring established deadlines for management reporting in terms of DDS, improving transparency and reliability of management reporting;
• Reduction of human factor errors.

The subsystems "Bank and Cash Desk," "Treasury," "Budgeting, Reporting and Analysis," "Process Management" of the software product "1C: Holding Management 8" have been implemented. Key users of the subsystems are employees of the financial department, initiators and heads of financial responsibility centers, employees of accounting.