The Svyaznoy network implemented solutions for budgeting and financial reporting consolidation based on the SAP BPC platform and completely changed the software “zoo”. This was the main step towards the digital transformation of the company.
Task
Implement a unified system for budget control and financial reporting.
Background and motivation
Before the introduction of a single system in Svyaznoy and before the merger of the two companies (Svyaznoy and Euroset. — Trends) retailers used several disparate systems. Document flow between branches and divisions was scattered. This process was difficult to manage, and for support it was necessary to attract a large team of specialists for each of the products. Business processes related to planning, approval and control of budget execution, as well as the preparation of IFRS statements, were automated only fragmentarily.
Today, big data and its effective management are a prerequisite for digital transformation and the key to successful business. Therefore, the company decided to switch to a single system.
Solution
For implementation, we chose the SAP BPC solution for budgeting and consolidation: it is compatible with the SAP ERP Retail system, which Svyaznoy uses after the merger. The SAP BPC solution allows you to conduct deep financial analysis at all business levels, as well as generate and close reports faster. The project partner was Novardis. During the implementation process, the company’s employees underwent special training in order to work effectively with the system and develop it.
The results
The implementation process was completed by the end of 2019. As a result, the company’s financial costs for supporting the budgeting system and consolidated IFRS reporting decreased by 50%, and data collection accelerated from one month to several days. The reporting time has been reduced from several hours to several minutes – due to the constant unloading of data from the original SAP ERP and automatic adjustment.
This helped speed up all business processes associated with the collection, processing of data and reporting, improve compliance with its standards. Therefore, the company promptly responds to any changes in financial performance.
Plans and prospects
Svyaznoy believes that the introduction of the system will improve the accuracy of forecasts and financial planning in the company, and employee training opens up prospects for its further development. In turn, all this will help accelerate the transformation of the business by streamlining processes and freeing up resources – time, technical and financial.
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