After years of practice we have the expertize how to optimize the work of the financial department of the company. Consultants, investment analysts and finance directors with years of experience are involved in our projects.
During the preparation of financial applications, we can additionally study and make recommendations for improuvements (in the form of a roadmap) in the following areas of financial management:
• optimization of the work of the Treasury (recommendations for maximum automation of payments approuval, implementation of automated control over compliance with budgets, accounting of primary documents);
• optimization of the accounting function (recommendations on the distribution of the work among the personnel, study of possibility of the accounting function centralization, acceleration of the closing date of the month);
• the audit of the analytical reporting system (recommendations for the creation or improvement of the system of regular analytical reports that can give owners, shareholders, management board and top managers a complete picture of all aspects of the enterprise's activities);
• introduction of a modern budgeting system (recommendations for creating a full-fledged budgeting system, with the ability to automate the storage of plans and automate the planning process itself).
Finance analysis on outsourcing
This service is suitable for companies where there is no financial department / CFO, or their load is too high to participate in the implementation of the financial application. We develop an application for finance on a turn-key basis and at the agreed periodicity (recommended - once a month) our experts prepare a presentation for management on trends, dynamics of key indicators, problematic and risky moments in the reporting.
During the process of preparation for implementation, it is necessary to conduct a wide range of preparatory work with data and processes. This tasks can be performed by the client independently (if there is an employee/employees in the team whose competencies are at the junction of finance and IT), or our experts will undertake this task. Stages of work within the framework of implementation are the following:
• development and coordination of the future model of Management Accounting, Treasury, Budgeting;
• description of business processes "as will be" for the organization of the correct work of Budgeting, Treasury, Managerial accounting in the accounting system of the Customer;
• formation and coordination of the Terms of Reference for the internal accounting system for the introduction of changes;
• formulation of the technical task for the application Qlik View “Financial Analysis” taking into account interaction with the modified Budgeting, Treasury, Management accounting systems;
• integration of the Qlik View “Financial Analysis” with accounting systems, setting rules for the transfer of actual data;
• Transfer of data to Qlik View Finance, verification of received data;
• Training users to work in the System on Customer's data;
• Experienced operation of the system under the supervision of the Contractor's specialists.
In order to ensure the rapid, high-quality and professional implementation of the Financial Analysis application, as a part of our team work a finance expert, Master of Science in Economics, a certified IFRS specialist, Olga Akulich. Olga was more than 7 years CFO of a retail chain of supermarkets, whose shareholder is the European Bank for Reconstruction and Development, and also advised companies in the manufacturing sector, worked as an investment analyst in real estate. Her key competencies are:
• the establishment of a financial management system and regular management reporting consistent with international practices and the requirements of IFRS;
• the management of projects of automatation the Company's processes in a single information field (products 1С.7, 1С.8);
• optimization and automation of business processes to overcome the consequences of "growth sickness".
• Centralization of accounting function - reduction of more than 40 accountants in stores;
• Implementation of an auto-order in non-food retail chain - a reduction of more than 30 goods managers, as a result the improvement in the turnover rate for goods switched on the auto-order by 15% -20%;
• Automation of payment calendar and automation of analysis of accounts receivable and accounts payable;
• Automation of planning and plan-fact analysis of the budget;
• Fast closure of management accounts (5th working day);
• Implementation of system of analytics on QlikView (more than 8 applications);
Our expert can provide the above services, both as a part of the implementation of the financial application, and as a separate project.