The ROSMEN group of companies implements projects in the field of goods for children. "ROSMEN" is the largest specialized book publishing house in Russia, since 1992 it has been releasing children's books in various directions and subjects. Since 2010, the company has also been developing and producing magazines, sells branded stationery (textile products, white paper, writing utensils, art supplies), toys and other products for children of preschool and school age, including under own trademarks.
ROSMEN Group uses a solution based on Microsoft Dynamics NAV 2009 as a corporate information system. which was subsequently replaced by other Elephant internal developed software. The RosmanSoft application included functionality for budget planning, but due to its architecture it had a number limitations, including performance limitations. The management of ROSMEN decided to revise its approach to financial planning and considered it the right step to switch to a more advanced system that could significantly simplify the processes of preparing and adjusting budgets, financial consolidation, business analysis and reporting. Following the results of the tender, the publishing holding chose a solution based on the IBM Cognos TM1 platform, and entrusted the project implementation to the experts of the international consulting company Odyssey Consulting Group, who have established themselves as competent specialists in the field of implementing systems for business analysis.
In total, the process of implementing a solution based on IBM Cognos TM1 lasted more than a year. At the first stage, the project team analyzed the current budgeting system and developed a set of requirements for the new system, and then proceeded to deploy the solution. One of the most important features of the project was the parallel implementation of a new ERP system by another partner of ROSMEN, which required the solution of a number of additional tasks in terms of integration. At the time of the decision to implement IBM Cognos TM1 the company did not have a well-developed budgeting methodology for all divisions, the required budget forms have been partly described in Excel spreadsheets. But the expertise of Odyssey Consulting Group consultants in the field of financial management, setting up and automating budget planning, as well as active participation in the project of functional managers of ROSMEN allowed to complete the implementation of the system without essentially exceeding the established budget.
< p> At present, the solution created by the specialists of the Odyssey Consulting Group consulting company covers a significant part of ROSMEN's budgeting. Using the IBM Cognos TM1 software product, it was possible to provide all participants in the budget process with the proper tools for long-term planning, approval and control of execution budget data. The formation of the annual budget of "ROSMEN" is carried out with detailing of revenues and expenses for each quarter, and quarterly budgets - with detailing by months.Taking into account the approved strategic goals and objectives, the specialists of "ROSMEN” develop a sales budget with a breakdown by channels and partners, budgets for the production of products by various categories, the purchase of the relevant licenses and rights, the development of a distribution network and logistics operations, trade marketing and merchandising, including products under own trade marks. In addition, the solution allows you to plan the costs of personnel, administrative support, IT infrastructure, additional resources, etc.
In the course of the project, the tasks of collecting and consolidating budget data for all necessary analysts were solved, budget indicators are being calculated, and appropriate management reporting is generated. On the basis of consolidated information from the items of operating budgets, employees of the financial department of ROSMEN calculate the budgets of income and expenses, cash flow, investment activities, tax budget, as well as the forecast balance. The data warehouse, created by Odyssey Consulting Group consultants, contains all the necessary versions of budgets, including those for previous periods. To carry out a plan-fact analysis of the execution of ROSMEN budgets the solution has been successfully integrated with the existing ERP system, consolidation of information related to the human factor. With the help of the system, we improved reporting procedures, which helps us to make more effective management decisions”, Ms. Mikhailova sums up s
