"Convenient money" implemented technology of consolidation of financial data

On July 23, 2015 the Softservice company announced system implementation of 1C: Consolidation 8 in Convenient Money group^[1].

Project Tasks

The wide scope of regions operating activities of the enterprise resulted in difficulties in management. The financial information characterizing work of divisions came to the central office with delays. Approval of requests for a funds expenditure and budgets dragged on, assessment of profitability of divisions was labor-consuming.

Office "Convenient Money", 2014

The management system for finance, uniform for all divisions, which would become information source for acceptance of management decisions was required for the company, allowed to approve quickly budgets and to approve financial requests, to control investment volume when opening new offices, to manage profitability of offices, to prepare the necessary reporting.

For the regulated and operational accounting in Udobnye dengi Group software products 1C therefore for automation of treasury and budgeting the solution of the 1C:Enterprise 8 system - "1C: Consolidation 8 is selected were used . PROF". The Chelyabinsk company of data center Softservice became the partner in implementation.

Project Results

Considerably the speed of approval of budgets increased. Managers on places enter all expected expenses into the system now, further the document moves on the approved approval chain. Earlier on approving the financial plan on three hundred remote divisions 2 months, with project completion - left 2 weeks.

Several times approval of requests for a funds expenditure accelerated. For convenience of work the mechanism of batch input and approval is created. Now the responsible manager can approve literally in "one cliques" up to three hundred documents. Daily payments are regulated by the approved limits. It helps to control expenses of the company and to avoid inappropriate use of means.

The approved investment budgets when opening new offices are strictly maintained. Considering high mobility of business when every month the company opens new representations, it is extremely important. The company management can quickly estimate profitability of any division now and within a day make the decision on its closing in case of unsatisfactory result of work.

Preparation of the specific reporting which microfinance institutions provide the Central Bank of the Russian Federation is automated. All documents submit within strictly fixed terms now, the probability of an error is minimum.

"Now we accurately understand what occurs in each of three hundred offices of Udobnye dengi Group. On the basis of data which we obtain using the 1C: Consolidation 8 system important management decisions, for example, are made on closing or opening of divisions. The budgeting system, financial planning and treasury - all this works for increase in the general financial stability of the company", - Alexey Denisov, the chief financial officer of Udobnye dengi Group noted.

In a project deliverable the budgeting system, terms of approval of budgets for 15 legal entities is optimized and 300 AM to remote offices were reduced by 4 times. Several times approval of requests for a funds expenditure accelerated. Control of costs and profitability of divisions is strengthened. When opening new divisions the approved investment volume is strictly maintained and payback periods are controlled. Timely formation of the specific reporting which microfinance institutions are obliged to provide the Central Bank of the Russian Federation is provided.

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