RBC Group completed implementation of IBM Cognos in AsiaCredit Bank

The company "RBC Group" announced on May 30, 2018 Kazakhstan project completion of implementation of IBM Cognos in JSC AsiaCredit Bank (AsiaCredit Bank).

JSC AsiaCredit Bank. Photo: abiyev.kz

Project Objectives

For improvement of quality of operational and strategic management, the management of JSC AsiaCredit Bank made the decision on system implementation for automation of planning, budgeting, forecasting and the reporting - IBM Cognos.

Project Progress

As a result of the tender for implementation selection of the command, the RBC Group company which specialists own a business methodology of development of systems of budgeting and management accounting was involved in project implementation, are well familiar with specifics of banking business and have experience of implementations of IBM Cognos in the banking sector of the Republic of Kazakhstan.

The project started in July, 2016. The RBC Group command not only finished the prototype of budget model created by bank, but also ensured effective system operation of budgeting in so-called "chain of command": Strategic planning-> Budgeting-> Management accounting.

Project Results

At project implementation the following aspects of a management system for bank were improved:

• Strategic and budget models of planning;
• Accounting models;
• Equipment of allocations;
• Plan-fact analysis, analysis of profitability.

The command from the Customer took active part in the project

"As a result of the executed project, process of budgeting together with establishment of strategic target indicators significantly changed. The management of Bank had an opportunity quickly and qualitatively to exercise budget control on the basis of accurately differentiated responsibility of heads for functional areas and the business directions. Budgeting terms were considerably reduced, the efficiency and quality of the management reporting due to remedial action in correlation between analytical accounting and managerial increased. The bank received the flexible and reliable IBM Cognos IT tools and also procedures developed by RBC Group company for the constant automated control of budget implementation and the analysis of the plan-fact reporting, including the analysis of profitability in the business directions and products at the expense of the implemented mechanism of allocation of expenses". Zuriya Valikhanovna Valikhanova, the sponsor of the project – the financial director-board member

The project was put into commercial operation in March, 2018. After project completion RBC Group renders to JSC AsiaCredit Bank technical support services of the implemented solution.