OREANDA-NEWS. October 14, 2009. The system used to make consolidated reports introduced by specialists of SITRONICS Information Technologies allowed SCM to reduce the time for report preparation and improve efficiency of the international audit.

One of the key advantages of the implemented system is better transparency and efficiency of the information collection and processing both for SCM subsidiaries and for the international reporting of the Company.

According to Yevgeniy Rodionov, Senior Manager of SCM Department of Financial and Management Control the company has been using the system for more than a year. "The advantages of the system are not limited to shorter timelines for report preparation and international audit", he said. "The solution allows to prepare consolidated reports at several levels at once and carry out detailed analysis of transactions inside SCM Group. In addition, a complex group-wide reconciliation process is completely automated now. As a result we can reduce the possibility of errors, time and man-hours. Finally, Oracle system allowed us to make the process of report preparation more understandable, transparent and efficient".

Another benefit received as a result of project implementation is reduction of manual labour. For example, we used to calculate manually the aggregated result in case of any changes in source figures even at one enterprise. Now all calculations are made automatically.

As it was noted by Alexander Komar, Head of Industrial Clients Department of SITRONICS Information Technologies in Ukraine, the project helped to standardize and structure the data storage processes. Specialists of SITRONICS Information Technologies designed and implemented the system, which automates business processes of primary data collection and cleaning, report formation as well as general reports for the management. As a result of system implementation there is a possibility to clean the data on intergroup operations and make consolidation adjustments.