Optimizing the process of managerial accounting preparation
The Containex-Monolit management had been faced with the task of optimizing the process of managerial accounting preparation, because of its complex generation:
- Data collection, processing, consolidation, analysis and verification required a lot of time and effort.
- Reporting by the Austrian standards was based on the reporting by the Russian standards (RAS), which was inconvenient and required cross-checking the information.
The FirstBIT Finance Management Accounting software product was the selected solution. The First BIT company became the implementation partner because of its successful experience of working in the corporate sector.
As a result of the successful software product’s implementation the following results have been received:
- Conditions for real-time preparation of accounting reports complying with the Austrian Accounting Standards have been created.
- The ability for budget planning by using multiple scenarios in the required data views has appeared.
- The Plan-Actual reports by all budget types (with breakdowns) are now generated in real-time.
- The quality of the accounting documents, the efficiency of the accounting department staff, as well as the accuracy of the management data have improved immensely.
The Customer noted the following achievements of the project:
- 15% reduction in the time to prepare the managerial accounting reports.
- Monthly operational information on the enterprise’s performance is provided in a timely manner.
- Now the control of the enterprise’s costs and the generation of a plan vs. actual performance analysis can be done in real-time.
Oleg Nespeshny, CEO: “Thanks to the implementation of a specialized information system we were able to increase to improve the data transparency and reliability, to simplify record keeping and to improve the quality of our financial management as a whole. We are satisfied with the functionality and the quality of the FirstBIT Finance Management Accounting program and hope for further effective cooperation.”
The future partnership plans of Containex-Monolit and First BIT include — recording of the time worked for a specific daily task by a workgroup, using mobile devices, as well as implementation of a mechanism for building a plan vs. actual analysis of the working time by orders or employees.
Containex-Monolit has been manufacturing containers for more than 30 years. During this time the company has become one of the largest producers in Europe and Russia. The Containex-Monolit engineers have developed the optimal container construction that allows a wide range of applications. The company manufactures high quality products by an Austrian technical know-how that comply with the security standards of the Russian Federation.
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Containex-Monolit has been manufacturing containers for more than 30 years. During this time the company has become one of the largest producers in Europe and Russia.