Consulting company Odyssey has successfully implemented another project for the SVEZA group, the world leader in the production of birch plywood. A 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 woodworking. SVEZA includes 6 plants in various regions of the country. The company annually produces 1.2 million m3 of wood-based panels.
The Odyssey consultants were tasked with making the planning and budget management process as simple and transparent as possible for all departments and company management. Previously, SVEZA employees used standard Excel tools for budgeting and faced many problems. Labor-intensive manual operations were accompanied by duplication, data loss occurred, and errors in calculations occurred. As a result, the process of making and implementing managerial decisions slowed down.
SVEZA management came to the need to reorganize the budget management model and integrate key corporate planning processes within one information system. As a software product, specialists from the Odyssey consulting company, selected as a project partner, proposed IBM Cognos TM1.
Implementation took about a year. As a result, SVEZA, together with Odyssey consultants, has created a complete budget management system that meets its basic needs. The system ensures the uniformity of budget data generation for all divisions of the group, increases the transparency of calculations and avoids manual adjustments. production, product cost, material costs, labor costs, overhead costs. The budget management model implemented in IBM Cognos TM1 takes into account the full structure of SVEZA financial responsibility centers. Collection, consolidation, adjustment of budget data are organized through a single web interface.
As a result, we get budget forms with the proper detailing of indicators. The budget for 2014 was already formed by SVEZA in the new system."
Elena Stolyarova, Lead Economist, SVEZA
As a result, we get budget forms with the proper detailing of indicators. The budget for 2014 was already formed by SVEZA in the new system."
Elena Stolyarova, Lead Economist, SVEZA
