The Ward Howell company implements the profile ERP solution

The NaviCon Group company completed automation of process of preparation of the consolidated management reporting in Ward Howell company. The project is implemented on the basis of the solution NaviCon Holding developed based on Microsoft Dynamics NAV.

Background

The information platform of the company consists of several systems which provide maintaining operational and accounting in each legal entity. For preparation of the consolidated statements spreadsheets of Microsoft Excel were used.

Task

A system became necessary for company management for the automated consolidation of financial statements according to the IFRS standards. As base for the solution the Microsoft Dynamics NAV system was selected.

Selection

"The NaviCon Group company could not only show the project experiment in the solution of similar tasks, but also offer approaches to the solution of a problem of consolidation, optimal on terms and aggregate value, in the industry, new to it. Besides, the company has own solution which considers features of process of consolidation of data and allows to implement as much as possible them" - Olga Vorobyova, the chief financial officer of Ward Howell comments on the choice of the company.

Assigned tasks are solved by means of industry solution of NaviCon Holding developed based on Microsoft Dynamics NAV.

Results

During the project the following work types were executed:

• the following modules are implemented: finance, transformation and consolidation, cost management;

• the procedure of automatic consolidation of the reporting under the companies of group (Russia, Ukraine, Kazakhstan) is configured;

• integration with the accounting system based on 1C is configured;

• mechanisms of allocation of costs on several analysts are developed.

As a result of system implementation the set-up time of the consolidated statements significantly decreased. If earlier work on data of data on all legal entities took up to two weeks of work of the chief financial officer, then now the reporting prepares in 1-3 days (depending on the volume of manual adjustments). Such saving of time is reached due to automation of loading and transformation of data from the different accounting systems. Now only single adjustments to the reporting are manually entered. Also significantly the procedure of cost determination – thanks to the implemented solution became simpler, it is made in completely automatic mode.

Thus, the implemented solution allows to assess quickly a financial situation of the company, thanks to timely providing the guide of the customer with the qualitative and authentic consolidated management reporting.

Objectives

After end of project works, development of the solution will be continued. Further automation of territorial subdivisions, in parallel with their growth and development is planned. Also specialists of the contractor together with financiers of Ward Howell the new tools for the analysis of business "ground" under requirements of Ward Howell prepare. Development of new reports became possible, thanks to the expanded analytics available in a new system now.