OREANDA-NEWS. June 14, 2007. It is planned to carry out the management of financial flows of the distribution grid companies (DGC) of the JSC “IDGC of the center and North Caucasus” operation area by  establishing a centralized Treasury Board, which in its turn is aimed at controlling the of implementation of the planned indices of the approved budgets of the subordinated companies’ cash assets, as well as the optimization of cash, which is very important during transition to a unified operational company (UOC), reported the press-centre of  JSC “IDGC of the center and North Caucasus”.

Presently, the activities for establishing the new indices and controlling the treasury budget are carried out  different software, thus preventing data base integration and receiving spot accounts.

The automation of DGC budget management through the treasury shall be realized with the help of SAP R3 corporative information resources management system, integrated for operating with “Bank-Client” systems. Options of the chosen software will help to receive and analyze the information in a more operative way for making management decisions, as well as forming the consolidated accounts. 

In 2007 documents, regulating the formation, preliminary agreement and approval of the planned and current indices of the budget of the subordinated companies’ cash assets were drawn up.

“The suggested scheme of cooperation will help to optimize the whole process of payment, make any financial accounts, improve DGC financial transparency”, notes Andrey Kuznetsov, Head Specialist of the Financial Department of JSC “IDGC of the Center and North Caucasus”.

It is planned to complete the project before the establishment of the unified operation company.