White Group automated operational budgeting and treasury in the program "BIT. Construction"

2024: Automation of Management Accounting, Budgeting and Treasury

IT integrator First Bit has automated management accounting, budgeting and treasury processes for the White Group, a developer and developer in the regions of the Urals. This "First Bit" reported on May 23, 2024.

White Group has been implementing projects on to construction apartment buildings since 2016. To automate accounting, the holding used a comprehensive industry solution. " BIT. Construction However, the top management of the group of companies lacked the opportunity to quickly receive data about the state of their business and the implementation of budget plans in order to make the right decisions "at the moment."

All accounting in the White Group was deferred, usually inherent in regulated reporting. Because of this, management decisions were made late, which negatively affected financial results.

To solve the detected problems, the management of the White Group Group turned to the Chelyabinsk office of the IT integrator "First Bit" with a request to optimize budgeting processes. The First Bit team proposed to implement the necessary functionality using the BIT. Construction/Management Accounting module.

BIT.FINANCE/Management Accounting is a special version of the BIT.FINANS of business financial management system adapted for construction companies using industry accounting systems BIT.Stroilance. Product lines BIT.Stroilance and BIT.FINANS are developed and maintained by First Bit.

The use of the module "BIT. Construction/Management Accounting" instead of an external solution allowed White Group to eliminate the need for double input of information and ensure the formation of budget reports online. Before the project, the company used a variety of forms such as a cash flow budget and combined forms. This led to methodological difficulties, which did not allow you to quickly provide comprehensive information on the effectiveness and effectiveness of various management objects: production objects, the functions of the customer-developer (including technical control), as well as departments engaged in business support and management.

During the project, the specialists of the IT integrator developed a financial structure for the White Group, helped to isolate the budget of income and expenses. The team managed to completely abandon the combined budget forms. They were divided into cash and accrual method, plan and actual data at the level of the company's budget policy. Cash flow budget (CDS) forms have been designed, with the possibility of using part of the indicators in the revenue and expenditure budget (CDS).

The project team has identified five types of financial responsibility centers (CFOs) in the White Group: consolidation center (to account for profit by group); profit centers for each complex of facilities; cost center for the functions of the customer-developer; Cost center for technical customer functions Cost centers by business provisioning and management functions. For each Central Federal District, a composition of indicators has been developed for use in an automated budget system.

Thanks to the professionalism of the employees of the Chelyabinsk branch of the First Bit, now we can automatically form operating budgets and constantly monitor their implementation. In addition, the introduction of the Treasury subsystem allowed us to get rid of cash gaps and automate the entire life cycle of applications for spending money, "said Elena Samoilova, financial director of the White Group.

In addition to the main tasks of the project, the specialists of the First Bit were able to three times speed up the average time for approving draft contracts using the Contracts and Procurement subsystem. Automatic data collection was also implemented to control escrow receipts by translating data from regulated accounting, management accounting and budget turnover.

The main stages of the project to automate management accounting and budgeting for the White Group Group took a little more than one calendar year. The developer switched to this budget model, and the management had the opportunity to quickly control the financial indicators of both the entire group of companies and individual objects and organizations.

Also, the Chelyabinsk office of First Bit saved the developer from cash gaps, helped several times speed up the process of agreeing contracts and streamlined the approval of applications for spending money.