Automation of preparation of IFRS reporting, management reporting and budgeting is one of the most important tasks of shareholders and company management.
When it comes to a group of companies, the lack of reporting automation is a major obstacle to business growth and profitability.
When implementing projects in the field of automation, we are guided by the following principles:
Unified methodology
See detailThe company must have a «single version of the truth». There should not be several types of reporting (RAS, IFRS and management reporting). The presence of several sources of information for the management and shareholders of a company, given the complexity of running modern business, can lead to a loss of competitiveness and a deterioration in performance. Therefore, you need:
- unified methodology for preparing IFRS reporting, management reporting and budget;
- unified directories and analytics of income and expenses, nomenclature, buyers, etc.;
- availability of additional analytics in terms of income and expenses for management reporting;
- detailed methodology of plan-fact analysis.
Fast closure
See detailOptimization of document flow and implementation of fast closure measures for reporting, according to local accounting standards (for example, RAS (Russian Accounting Standards)). Closing reports for 3-6 business days.
Maximum convergence of IFRS and RAS
See detailFinancial statements prepared in accordance with the requirements of RAS or IFRS must, first of all, meet the requirements of shareholders, investors and management for completeness and transparency. In any case, reporting for tax accounting purposes should be prepared separately, according to its own rules.
Reduction of terms
See detailMonthly preparation of consolidated actual management statements, a plan of factual analysis and an updated forecast before the end of the year (or, for example, for the next twelve months) within 12 working days after the end of the reporting period.
Implementation cost
See detailBetter to have the most expensive automation system rather than risk critical errors that might occur by bad decisions from shareholders or company management. As a rule, incorrect data is more often or not the result of human error that arose due to lack of automation.
ADE Professional Solutions advantages:
Significant accumulated experience in the implementation of projects in the field of automation. Below is a non-exhaustive list of our completed projects.
Customer | Solved problem | Software |
RusHydro | Development of methodology and automation of preparation of consolidated financial statements in accordance with IFRS | IBM Cognos Controller |
Rosseti | Development of methodology and automation of preparation of consolidated financial statements in accordance with IFRS | IBM Cognos Controller |
Baiterek (Kazakhstan) | Development of methodology and automation of preparation of consolidated financial statements in accordance with IFRS | IBM Cognos Controller |
NOVATEK | Development of methodology and automation of preparation of consolidated financial statements in accordance with IFRS | IBM Cognos Controller |
Gloria Jeans | Development of a methodology for management accounting for lease and accounting in accordance with IFRS 16 Lease, automation | Optimacros |
Pony Express | Development of cost location methodology and calculation of margin of individual deliveries | Optimacros |
Gulf Stream | Development of methodology and budgeting and business planning | 1C Holding Management |
Magnitogorsk Iron and Steel Works | Development of methodology and automation of preparation of consolidated financial statements in accordance with IFRS | IBM Cognos Controller |
State transport leasing company | Development of methodology and automation of preparation of consolidated financial statements in accordance with IFRS | IBM Planning Analytics |
Segezha | Development of a methodology for automating the preparation of consolidated financial statements in accordance with IFRS / management reporting in the logic of IFRS | 1C Holding Management |
Softline | Development of a methodology for automating the preparation of consolidated financial statements in accordance with IFRS | 1C Holding Management |
Uranium one Inc. | Development of a methodology for automating the preparation of consolidated management reporting in the logic of IFRS | Oracle HFM |
