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AT CONSULTING HAS IMPLEMENTED SOLUTION FOR BUDGETING AND GAAP ACCOUNTING AND REPORTING IN CHERKIZOVO

December 23, 2013

AT Consulting has automated the annual and short-term planning processes for the poultry segment and the GAAP accounting and reporting processes at Cherkizovo. A centralized integrated solution with the unified web interface and quick access to management data has been designed using Oracle Hyperion Planning and Oracle E-Business Suite.

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The complex planning module is based on the Oracle Hyperion Planning platform. The new system embraces three interrelated spheres: operational planning which comprises planning of physical indicators; financial planning which comprises cost calculation; and consolidating planning intended for drawing up Cherkizovo consolidated budget. Annual planning and short-term planning can be performed in the system. Important functions of the short-term planning include taking into account specific requirements such as a daily feed and veterinary preparations plan, an egg production balance; a balance of caged chickens, a balance between the deficient eggs and chickens purchased and the surplus ones sold, and a finished-goods production balance optimally meeting the marketing order.

The Oracle E-Business Suite system is used for collection of GAAP reports in Cherkizovo as part of the unified integrated solution. The Main Book and Assets applications permit Cherkizovo Group to collect detailed reports on the costs planned and reports for primary expenses comparison and costs analysis. The prepared reports are transferred to Oracle Hyperion Planning for plan/actual analysis.

“The budget for 2014 has been formed in the new system. Today we have one budget version official and approved. All the users see only one variant of the document during the forecast updating. An advantage that we have obtained after the implementation of the GAAP accounting and reporting system is month-end closing. We used to make quarterly accounts, now we prepare them every month. It is a major step. But the most important thing is data refinement as deep as it is required at that”, commented Maxim Gaponenko, Deputy Financial Director at Cherkizovo Group.

The project started in July, 2012 and developed in four stages. At the first stage which ended in late 2012, system requirements were collected. The second stage which ended in March, 2013 included development of system prototype and design documentation. User instruction was also carried out at that time. During the third stage the solution was tested. Activities on system integration were conducted at the last stage which ended in September, 2013.

“Combination of the annual planning tasks and the detailed short-term planning requirements was the main difficulty of the project. Moreover, managerial analysts were to complete the actual data. I believe we have coped with the tasks successfully thanks to concerted efforts of the implementation team consisting of experts from Cherkizovo and our specialists and have designed a useful tool for qualitative management and business development”, said Anton Shubin, Partner and CPM Practice Director.

At present, AT Consulting carries out the system support and development. The consolidated budget for 2014 has been prepared in the new system. Automation of planning processes for pig farming, meat processing, and plant growing and implementation of a strategic planning model are among Group’s future plans.

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