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Odyssey has successfully implemented another project for Sveza Group, the world leader in birch plywood production. The new corporate budgeting system has been put into commercial operation. The platform is IBM Cognos TM1. "SVEZA is a large Russian industrial group specializing in wood processing. The structure of "SVEZA" includes 6 industrial complexes in different regions of the country. Annually the company produces 1,2 mln. m3 of wood boards. Odyssey consultants had a task to make the budget planning and management process as simple and transparent as possible for all departments and company management. Previously, SVEZA employees used the standard Excel tools for budgeting, and were faced with many problems. Labor-intensive manua l operations were accompanied by duplication, data were lost, and calculation errors occurred. As a consequence, the process of making and executing management decisions was slowed down. Management of SVEZA realized the need to reorganize the budget management model and combine key corporate planning processes within a single information system. The Odyssey consulting company experts chosen as the project partner suggested IBM Cognos TM1. The introduction took about a year. Sveza in cooperation with Odyssey consultants created a complete budget management system meeting its basic requirements. The system ensures the unity of budgeting data by all subdivisions of the group, increases the transparency of calculations, and avoids manual adjustments. Odyssey solution based on IBM Cognos TM1 covers the whole cycle of the group corporate business-planning: calculation of sales and production budget, production cost, material cost, salary, overheads. Budgetary management model realized in IBM Cognos TM1 takes into account complete structure of "SVEZA" financial responsibility centers. Budget data collection, consolidation and correction are organized via single web-interface. After IBM Cognos TM1 launch we acquired necessary tools for budget data reconciliation and approval on all levels of financial responsibility centers. Now the financial subdivisions of SVEZA Group work according to the same principles. We have saved ourselves from labor-intensive manual operations. The output is budget forms with proper detailing of indicators. SVEZA has already created its 2014 budget using the new system. Elena Stolyarova, SVEZA's leading economist |
