Sintegs provides support for the accounting system at NPF First Industrial Alliance

2023: Results of 7 years of cooperation

NPF First Industrial Alliance has been trusting Sintegs for 7 years to support the accounting system since it became the first non-state pension fund to switch to OSBU together with Sintegs. Representatives of the IT company reported this on October 19, 2023

In 2016, NPF First Industrial Alliance found itself in the search for a new accounting system financial : companies systematically switched to a single chart of accounts and industry accounting standards. With the change in the accounting methodology, new approaches to automation were also created. From the new system, NPFs expected not so much a platform for mapping as data a well-developed methodology. This was especially true for financial investments, since the fund worked with a large number of management companies.

"When choosing the system, 5 companies were analyzed, and only one of them showed competence in accounting for financial investments and an understanding of the automation of this process," said Natalya Antonova, chief accountant of the First Industrial Alliance JSC.

The most important and complex works were concentrated in the block of financial investments. Before the transition to OSBU, the fund could reflect consolidated transactions on transactions in trust management, but now it was necessary to reflect in detail all primary transactions.

"Our team has engaged directly with the fund's management companies throughout the year to unify the rules for reflecting information. To do this, we independently loaded the primary documents, reflected them in our system and coordinated with the management companies the result of the reflection in accounting. All in order for the data in their systems and in Sintegs OSBU to correspond to each other, "explained Andrei Yermoshin, functional architect of Sintegs.

According to Natalia Antonova, the transition to OSBU in 2016-2017 was quite painful for users, but nevertheless notes the readiness of the Syntegs team for dialogue.

"For seven years there were moments on the verge of divorce, it was difficult when some Sintegs employees were replaced by others, and we were looking for a common language. But all difficulties are solved, and we feel the development of the company and an increase in the level of customer focus, "added Natalia.