Svyaznoy creates financial statements in read minutes thanks to SAP

2020: Completion of SAP implementation of BPC

On September 2, 2020 the Svyaznoy company announced completion of implementing solution for budgeting and consolidation of financial statements based on the SAP BPC platform. Integration of a system became the next step of the company within digital transformation of business.

Thanks to this project finance costs of the company on support of a budgeting system and the consolidated IFRS reporting were reduced by 50%. Implementation also allowed to reduce significantly time of technical reporting from several hours to minutes. The NOVARDIS company acted as the partner of the project.

Consolidation of the separate systems with similar functionality on a single platform became a key project objective. Before SAP implementation the BPC company used several budgeting systems and consolidations from other vendors. Business planning processes, approvals and control of budget implementation and also formation of IFRS reporting were automated fragmentary.

Implementation allowed to achieve all planned results. Based on the platform the consolidated corporate reporting is prepared, there is analytical data processing. Thanks to the fact that data are constantly unloaded from initial SAP ERP and are adjusted by automatic amendments consolidation report forms form for several seconds. Earlier data collection for budgeting was performed within a month, after implementation this process lasts several days. The cost of ownership of a system is reduced by 50% that will allow to optimize significantly expenses in the long term.

Svyaznoy solves a problem of business transformation including in the financial block therefore we selected SAP BPC as the solution for financial statements. All economic and technology advantages of this project are already obvious to us. Earlier we used the software from several suppliers for which integration and support the big team of experts was necessary for us. Transition to the single integrated solution covering all complex of business processes, transactions and functions allowed not only to implement management and to minimize costs, but also to maneuver the released resources — the senior vice president for finance of Svyaznoy company Dmitry Gultsev noted.

Data – the key force of any business. And the ability is competent to dispose of these data – the key to success of the company even in crisis conditions. Competently effective objectives and orientation to result became success factors of this digital project. In the course of implementation the staff of the company specially was trained in SAP Training center to increase efficiency of work with a system and further to develop it. SAP BPC will allow Svyaznoy to provide observance of accounting standards. And use as the database of our SAP HANA platform will help to create calculations and reports for seconds — Andrey Goryaynov, the deputy CEO of SAP CIS noted.

Implementation of single solution for budgeting and consolidation of financial statements always does well to business. All business processes connected with collecting data processing and reporting are executed much quicker that helps business to react to change of financial performance quickly. It is separately necessary to note also the fact that technical support of uniform software requires smaller finance costs and administrative resources. Thanks to harmonious work of a command implementation took place at the scheduled time and allowed to achieve all objects set by the company — Mark Roytenberg, the managing partner of NOVARDIS commented.

2019: Start of SAP implementation of BPC

On May 30, 2019 the united company Svyaznoy -Euroset also SAP announced start of implementing solution for budgeting and consolidation of financial statements based on SAP Business Planning and Consolidation BW/4HANA for (BPC). This system will allow the company to do a deep financial analysis at all business levels and to accelerate formation and closing of the reporting. The company acted as the partner in implementation Novardis.

Merger of companies Euroset and Svyaznoy within whom there was a need for a scalable system for processes of budgeting and preparation of IFRS reporting became premises of the digital project.

Process automation of planning based on the single interconnected system for collecting of planned data, implementation of budget control and preparation of the reporting under IFRS became the key purpose of implementation. It is planned that the SAP solution BPC will be integrated with the systems suppliers of data and also with SAP ERP which at merger of companies the Euroset and Svyaznoy was implemented as the basic IT platform. In general due to reduction of quantity of systems the company is going to reach triple economy on technical support.

We looked for a digital instrument long ago for financial planning which would satisfy requirements of the growing business. It is the second similar SAP BPC project in federal retail. During implementation our employees were trained in SAP Training center that will help to increase efficiency and further development of the solution,

SAP BPC helps the companies to increase operational and investment efficiency, forecast accuracy and financial planning. The SAP HANA platform on which the updated system will be constructed thanks to built-in "in-memory" to technologies, will allow Svyaznoy-Euroset consolidated company to accelerate significantly business processes, to collect, to analyze and use data in real time, commented Andrey Goryaynov, the deputy CEO of SAP CIS