SEGULA Technologies Russia

SEGULA Technologies Russia

First BIT has finished the development of the effective financial management system in the engineering company, SEGULA Technologies Russia.

SEGULA Technologies Russia is a part of SEGULA Technologies Group, which is a leading corporation in engineering and innovative consulting based in Europe. SEGULA Technologies relies on 2,300 employees in 70 branches in France and 18 other countries. The company’s subsidiaries are located in the industrial centers all over the world.

The highly qualified employees of SEGULA Technologies Russian render engineering services, developing turnkey projects in three different fields: aerospace, automotive and railway.

Prior to introduction of the automated information data system, the company had to solve its managerial accounting mainly through electronic spreadsheets, which caused many difficulties in preparing reports for the local management company and the head office. The data used to be saved in several files, which led to a high risk of errors.

That is why the management level of the Russian Branch decided to develop an information data system that would automate the company’s accounting, as well as the preparation of mandatory statements, managerial accounting and cash management.

With a long proven experience in automation of managerial accounting and mandatory statements in Russian branches of other foreign companies, First BIT has become the company’s partner. As a result of the software products market research, the solutions 1C:Accounting 8 and FirstBIT Finance. PROF have been chosen to meet the client’s requirements to the fullest.

First BIT experts have set up and configured the software and provided training for the users.

A total of 10 work nodes have been automated.

Major results of the project

  • The preparation of financial and tax reports, budget planning, business accounting, including money management, have been entirely automated.
  • The number of errors caused by manual preparation of reports has been minimized. Employees in accounting and financial department have been relieved from the necessity of performing many time-consuming operations manually.
  • A unified format of managerial accounting and statements based on Russian accounting standards has been developed, including main forms: cash flow budget, revenue and expenditure budget, balance budget.
  • There have been implemented technologies of budget planning according to multiple scenarios in the necessary analytical aspects: top-down and bottom-up, aims-based and achievements-based budgeting.
  • The procedure of rolling planning that includes budget update and change of planning perspectives on a regular basis has been introduced.
  • Operation monitoring of budget performance and cash flow has been ensured and multistage payment confirmation process has been organized, which allows the company to avoid misallocation.
  • The managerial accounting data acquisition for the revenue and expenditure budget, as well as for the balance budget, has been automated by translating data from the accounting subsystem.
  • Prompt forming of managerial accounting, including actual-budget accounting, has been ensured for all types of budget along with the ability to obtain all the necessary interpretations.
  • The process of preparing statements for the French head office has been sped up.
  • The monitoring of the results of financial and business activities and adjustments to current tasks of the company in real time have become possible for the employees of the company to achieve the best financial results.

Svetlana Alexandrovna Trofimova, chief accountant, SEGULA Technologies Russia, notes: “We are happy with the choice of the software solutions and automation partner. The First BIT experts performed the software setup and configuration promptly and in a professional way. As a result, a convenient information data system has been created which has substantially facilitated the work of our company’s accounting and finance departments. All the necessary reports are now formed on schedule and with high quality. The errors have been virtually eliminated from the process of preparing accounting reports. The number of processes performed manually has decreased, and the management now has the opportunity to get up-to-date information on the company’s activities in real-time mode.”

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