BIA Technologies automates centralized treasury in NefteTransService

2024: Treasury automation

BIA Technologies has automated a centralized treasury at NefteTransService. This was reported to BIA Technologies on October 16, 2024.

IT company experts implemented the 1C: Holding Management configuration and integrated it into the IT infrastructure of NefteTransService Holding, a large private railway operator specializing in the transportation of oil and petroleum products.

Before contacting BIA Technologies, the processes of the centralized treasury of the group of companies were automated in 1C: Manufacturing Enterprise Management, related operations were carried out in other information systems, and integration between them was not fully implemented. This led to duplication of data and the need to perform double work by users.

The growth of any company always requires the development of IT systems in order to maintain the efficiency of existing business processes or optimize them. Information systems in use become obsolete over time and cannot always provide the necessary transparency and control, so it is important to upgrade or replace them in time. Thanks to the integration of this platform into the IT infrastructure of NefteTransService, the treasury business processes and the methodology for planning the cash flow budget were optimized. It was also possible to ensure operational control of receivables and payables, - said Alexander Volovik, Commercial Director of BIA Technologies.

After analyzing our IT landscape, we chose 1C: Holding Management as the target system for automation. BIA Technologies, based on its experience, has proposed an optimal approach to solving the problem. As a result, we received a tool that made it possible to increase the transparency of accounting and control, reduce the number of manual operations and optimize the work of the company's employees, "NefteTransService said.

As a result of the project, NefteTransService strengthened control functions in making payments, reduced risks associated with financial transactions and built effective cash flow management.

The company noted that the project was implemented in several stages. As part of the first stage, in a pilot volume, the minimum necessary functionality for work was introduced in three managed companies in the shortest possible time. Further, the basic functionality was replicated to the remaining 11 legal entities of the group in parallel with the work on the implementation of the functionality of subsequent queues. Thanks to the implementation of the project, NefteTransService received an information system based on 1C, which meets the needs of a growing business for the implementation of a centralized treasury function.