"The first BIT" automated accounting financial activities of Volgoelektroset

Volgoelektroset LLC is the large Nizhny Novgorod power network enterprise having a wide branch network and modern infrastructure. The company provides full range of services: maintenance and repair of power stations, accession of objects, installation and construction works and many other things. The company signed more than 100 agreements on operating-technical service of more than 130 electric units of consumers. Now Volgoelektroset performs maintenance more than 400 power stations and more than 500 km cable and overhead power transmission lines for 280 enterprises.

Goals and Objectives

Volgoelektroset was carried out by implementation of a new system with the purpose to improve management accounting for which conducting in the company only the program for work with spreadsheets was used. Besides, it was required to solve a problem of optimization of labor costs of personnel of the customer according to payment documents, to collection of data on income and expenses, the cash accounting and data analysis.

Result

In a project deliverable in the electric grid company formation of the plan-fact analysis of budgets of cash flow and the income and expenditure budget noticeably accelerated. There was an opportunity to control budget implementation by its articles. The company management got online access to the broad picture about the current financial status and distribution of financial resources.

By implementation of BIT .FINANS. Prof in the company management of treasury was organized. By means of the payment schedule became possible instantly to obtain information on budget implementation, to detect cash gaps and to predict payments taking into account the forthcoming receipts. A system provides approval of requests for expenditure of means. Now all payments gather in the general register and will be approved before are paid.

"Thanks to a new system we managed to adjust cash discipline, having had an opportunity to control a remaining balance according to budget items of cash flow in real time, considering the forthcoming receipts and payments. It allows to make quickly management decisions, without allowing a stop of business processes of the company, – Evgenia Kruchinina, the head of the finance and economy department of Volgoelektroset LLC says. – We reached transparency of financial activities, significantly accelerated it. We are happy with a new system – work speed in it, the easy interface and convenient administrative tools".