Customer Feedback
Objectives
- Standardize management accounting across the entire group of companies in Russia
- Improve the efficiency and quality of management of Russian divisions
- Adapt the company’s work to the requirements of 214-FZ
- Ensure the ability to respond promptly to changes in construction legislation and regulated accounting
- Reduce labor costs and time expenditures for maintaining accounting procedures and providing management and regulated reporting
Challenges
- Survey the company’s main business processes and optimize their reflection in the information system in accordance with the best business consulting practices
- Upgrade the system to the current release and adapt improvements taking into account the company’s industry specifics, changed algorithms and metadata structure.
- Combine the work of several legal entities of the concern in one information space
- To customize data exchange with 1C:Document Management, having finalized it for the specifics of UIT
- Implement standards of regulated and management accounting for all legal entities of UIT in Russia using the ATiP platform developed by assino experts.
- To implement project accounting, in particular to restructure cost accounting with the possibility of automating escrow accounts with the changes in the Russian legislation specifically 214-FZ.
About the project
Before the start of the project, the YIT group of companies used 1C: UPP and a third-party financial accounting program. Preparing consolidated reporting was labor-intensive and time-consuming. Each legal entity of the concern used a different reference data system, so the reports contained different information, which affected the reliability of the data and did not allow for quick management decisions.
In order to improve the efficiency and quality of work, the YIT management decided to implement a new information system. The main condition was the ability to work according to uniform corporate standards in the execution of financial transactions by all Russian divisions of the concern.
An important role in choosing a contractor was played by assino’s project approach and the high level of competence of specialists, as well as compliance with international standards and the highest corporate standards of YIT and adherence to the global compliance policy.
Project results
- Improved reliability and speed of management and regulated reporting
- Improved manageability of construction project timelines and budgets due to prompt receipt of information on key financial indicators
- Compliance with 214-FZ is ensured due to the implemented functionality in the system, including cost accounting with automation of escrow accounts with changes in the Russian legislation;
- The ability to quickly introduce legislative changes into the ERP system was ensured.
- The requirements of the Compliance Policy were taken into account and fully implemented in the system using the ATiP platform developed by assino experts.
