Axenix: Accounting Data Localization Service

Main article: IT outsourcing

2023: Accounting Data Localization Service Launched

Consulting the company Axenix is Russia launching a service that will help global companies operating in localize. storage of financial data The requirement to store accounting documents, as well as the information contained in them in the territory, Russia is provided for by the Federal Accounting Standard FSBU 27/2021 "Documents and Document Management in Accounting." Clause 25, which regulates the storage financial Russia of data in, comes into force on January 1, 2024. Axenix announced this on December 26, 2023.

Global companies with financial data stored on foreign servers must localize all accounting records in Russia. They can solve the issue of localization only in two ways - either completely transfer accounting systems to Russian servers, or use a hybrid solution in which Russian servers duplicate accounting information from global servers. The second path is less expensive and easier in terms of obtaining licenses for financial systems from international vendors.

Axenix offers customers to use a solution based on Russian cloud platforms to localize financial data.

You can modify the financial data accumulation and processing processes in different ways. Axenix implements the most complete option, in which the accumulation of primary information, as well as transaction mirroring from the customer's ERP system, will be carried out on a local system deployed on a cloud platform. This will allow companies to maintain access to financial information even in the conditions of the most unfavorable sanctions from foreign providers and will ensure compliance with Russian regulatory requirements.

Documentation deployment databases and migration times range from five weeks to three months, depending on customer requirements and need integration with existing infrastructure and business systems (in particular ,/, Active Directory/LDAP BI DWH).

This law primarily affects international companies that continue to use centralized ERP systems in their work in Russia. Therefore, in the middle of the year, large clients turned to us with a request to localize financial data. For those who do not plan to migrate accounting systems to Russian servers, this is a serious problem. Having studied the possible options, we decided to launch this service. This is a fairly fast and simple solution that will allow companies to start meeting the requirements of FSBU 27/2021 in a short time. In addition, they will be able to additionally visualize data in an end-user-friendly format without restrictions from global architects or platforms, and will also receive a base for further development of local reporting, "commented Andrei Lukashev, senior manager of Axenix's platform solutions department.