Kaspersky Lab upgrades processes of preparation of the financial and management reporting

The LANIT company and Kaspersky Lab created an automated system of consolidation of financial statements based on Oracle Hyperion Financial Management (HFM) for the benefit of developer company of software tools of protection.

Task

Project objective - optimization of the current business processes, reduction of a share of manual transactions, detailing of the obtained consolidated data, increase in transparency of the reporting.

At the time of the beginning of the project the consolidated statements was provided by means of a packet of data collection in a format of books Microsoft Office Excel.

Application of the ordinary office application complicated reconciliation of data, transformation and consolidation of the reporting, complicated audit of financial information. In addition, the labor input of process caused preparation of financial statements only once in a year, managerial – once a month.

With respect thereto the management of Kaspersky Lab made the decision on business process automation of formation of the consolidated statements, implementation of a modern IT system. As an optimal software platform the system of consolidation of the financial and management reporting Oracle Hyperion Financial Management is selected. The LANIT company became the partner in implementing solution.

Solution

The functionality of control procedures is provided in the system of consolidation of financial statements that allowed to reveal and exclude errors at a data entry stage in a system. Automation of data loading about profits and losses from the standard packet exported from the system of local accounting increased the speed of data collection.

The LANIT company automated settlement processes of the deferred tax and allocation of expenses on cost centers. It gave the chance to collect the reporting on a monthly basis, to save time for data purification and to increase quality and efficiency of audit of the reporting.

Result

Implementation of Oracle HFM made convenient creation of the user analytical reports. The software solution the analyst with detailing up to the entered primary data allows to provide the loaded data by any. System architecture is designed in such a way that allows to collect the reporting regardless of frequency: data can be entered into a system monthly, quarterly or once a year. Loading not only actual data, but also planned data and also budget rates for the further analysis is provided in a system.

Opinion

Andrey Bashchenko, manager of projects of Kaspersky Lab: "The LANIT company showed a brilliant combination of competences on implementation of the industrial solution of Oracle, methodological competence on business process optimization and building of techniques in financial accounting and consolidation. Such combination is extremely effective in the conditions of dynamically changing business environment which constantly sets the difficult tasks requiring rapid response and the solution for a project team. Despite difficulties, the project is implemented in extremely short time (6 months) according to the initial plan".

Pavel Goryansky, director of department of management systems and consulting of LANIT: "Cooperation with Kaspersky Lab - the company working in one industry segment with LANIT is significant for us. As a rule, at software implementation of the IT company prefer to manage by own forces. It is essentially important for us that Kaspersky Lab – the recognized leader with a world name – selected from software development area for project implementation of LANIT. In return we highly appreciate work of specialists of Kaspersky Lab, was pleasant and honourable to cooperate with this team of professionals. We are glad that at us everything turned out".