Eurasia Drilling Company launches budget planning system

On August 26, 2014, the IBS group of companies announced the completion of a project to modernize the budget planning and analytical reporting system on the IBM Cognos TM1 platform at Eurasia Drilling Company (BKE ).

Project course

IBS was faced with the task of creating a new budget planning system, which not only has great speed, but also has simplified support and high security. To do this, IBS used a parametric approach to the system architecture, implemented an analytical data warehouse for building reports, helped the customer set up a clear distribution of user access rights, and created a number of video courses and manuals for local administrators to maintain and manage the system.

Project result

In the first months of the system, current plans were created for the number of periods that are determined by the budget management regulations. The process of harmonizing the achievable financial and production goals of the activity with management began to take place automatically, contributing to an increase in the discipline of the implementation of the budget regulations as a whole. And the reduction of labor costs for the preparation, coordination and analysis of data while increasing the transparency of decisions made, made it possible to achieve better budget planning.

Elena Sayapina, Director of the Financial and Economic Solutions Division of IBS, noted: "Due to the complexity of operations, today many companies are faced with the need to modernize budget planning tools. However, each organization has its own budgeting standards, and therefore we strive to offer customers exactly the solutions that will work as efficiently as possible in the legacy IT infrastructure. In the case of Eurasia Drilling Company, the IBM Cognos TM1 decision made it possible to achieve immediate results and was quickly made by employees. "

Evgeny Nekipelov, Head of the Department of IT and Drilling Company Eurasia, said: "We have been collaborating with IBS for several years on various projects, and the introduction of a new budgeting system has become a new stage in our interaction. The company's consultants proposed perhaps the fastest system using in-memory computing technologies, as well as fully compatible with standard IBM Cognos interfaces, so that we did not have to retrain employees to work with fundamentally new software tools. On the contrary, the results of the work in the new system immediately began to bear fruit. "

The project involves 17 divisions in different regions of Russia.