Prime Finance accelerates budgeting process at Tekta Group

2024: Budgeting Automation

IT-integrator Prime Finance automated the process budgetings for the development company Tekta Group and increased the speed of calculating the company's consolidated budget to two hours. Previously, this process took about 70 hours due to the need to process a huge array. data This was announced on August 14, 2024 by representatives of Prime Finance.

A special feature of the project was the need to build a complex multi-component budgeting system for both the group as a whole and its individual projects. Including - setting up forms for entering financial parameters, planning forms until 2050, credit calculations, profit and loss reports, balance sheet, fund flow plan, income and expense budget, calculations of the cost per square meter, etc.

The total volume of consolidated reporting data reached 60 million cells (of which about 38 million cells with formulas), as well as about 5 thousand tables. It was possible to implement the task using two components of the FinOffice system of Prime Finance - Tabula and Consolidator.

Thanks to the automation of the financial accounting process at Tekta Group, the costs of training personnel who were involved in the formation of financial statements were halved. The speed of processing data of the financial model has significantly increased, which, according to the customer's feedback, led to greater accuracy of budgeting and financial planning.