Consist Business Group optimized a budgeting model and management accounting for the NIS group

2020: Completion of optimization

Consist Business Group completed global optimization of budget planning and consolidation of the management reporting in one of vertically integrated energy companies of Southeast Europe – NIS Group (Naftna Industrija Srbije). On September 21, 2020 LANIT reported about it.

The Russian consulting group implemented a corporate system based on Oracle Hyperion Planning in NIS in 2013. Since then partners jointly perform its maintenance and development. The project allowed the client to reduce a closing time of reporting period in a system till 1.5 o'clock.

Since implementation the model of NIS Group significantly extended. The management of group made the decision to invite a command of Consist Business Group for carrying out refactoring and optimization of the current model for the purpose of fall forward of processes of budgeting and management accounting in a system.

To command of Consist Business Group there were effective objectives: reduce time of recalculation of model for closing of reporting period till 1.5 o'clock, reduce the database size (it was succeeded to reduce by 20 times) and to increase system availability for users due to reduction of duration of night maintenance procedures.

Optimization was possible after migration on upgraded version of Oracle Hyperion Planning in 2018. As the business logic of calculations did not change, for implementation of refactoring of a system it was required to review technical solutions, using the functionality which appeared in this version.

Active users of schedule system and the reporting are 350 specialists of economic divisions of NIS in Serbia. According to the results of the project employees of the customer had much more time for reconciliation of the management reporting about IFRS, the analysis, acceptance of management decisions and scenario modeling.

The possibility of the subsequent development of a system with higher speed due to reduction of time required for testing and procedural procedures became additional result of refactoring. The management of NIS Group considers the present possibility relevant in quickly changing economic conditions.

We work with Consist Business Group within maintenance and development of a corporate system and quickly with a project team we implement necessary changes. As a result of refactoring of the Oracle Hyperion Planning model we managed to optimize system operation and to achieve acceleration of workflows of budgeting and formation of managerial result of activity of the NIS group that allows to save considerably labor costs on formation of forecasts of results of activity and the reporting.