Euroset will complement with a SAP system from Oracle

Euroset is going to implement until the end of 2010 the system of consolidation of financial statements on the basis of the solution Oracle Hyperion Financial Management. The project task consists in optimization of terms of closing of financial periods and providing the external reporting and also its consolidation according to standards Russian and international financial accounting. The system integrator Lanit Ltd will be engaged in system implementation.

The Euroset company is the owner of one of the most powerful ERP systems - SAP ERP, and in Euroset the financial module of this system which is its center and has broad functionality, however, most likely, of these functions to the retailer is implemented among others it appeared not enough. "With Oracle Hyperion Financial Management we receive the instrument of operational management of efficiency and we reduce the total cost of ownership of IT, - Alexander Talalykin, the Chief information officer of Euroset company, in connection with start of the project said. 

Whether Euroset had before any other system of financial management and from what systems the solution of Oracle as a result was selected, also in Lanita, and directly representatives of retail network found it difficult to comment on TAdviser. It is said in the official statement only that the solution of Oracle was selected according to the results of the tender, and the most important selection term of the platform was fast closing of a financial period. Besides, the possibility of support of business needs of the company in process of their growth was considered. Let's remind that, in particular, SAP also has a solution for management of finance (SAP ERP Financials).

The project should come to the end  in December, 2010, and Euroset will already begin to provide the reporting created in a system from the first quarter 2011. In spite of the fact that the solution will be implemented only at head office of retail network (all in a system 25 users will work), it will be applied to consolidation of the reporting under all companies of the Euroset group.

The parties do not open the project budget. According to the experts, respondents of TAdviser, proceeding from the cost of licenses and scale of the project its budget can make up to $500 thousand. Estimated the budget at Finam even above. "In this case the speech can go about the range of $5-10 million", - the analyst of Finam Maxim Kalyagin commented.