Project Title: Inter-Company Tool to Support Accounting Transformation Project

The Challenge

As a result of the merger, TNK-BP faced several major issues:

• Multiple subsidiaries, which results in up to 400 users
  Geographically distributed subsidiaries
  
• Faster period close (before the 8th day after the closing period)
  
• High demands on the consolidation department in performing inter-company reconciliations
  
• Heterogeneous system landscape and data sources, each critical for providing reconciliation data.

To address consolidation issues a multi-element Inter-company Solution (ICS) was proposed which became one of the key system tools in Accounting transformation project (ATP) delivery.

The bidding process was announced to select a vendor to design and implement a Web-based Tool, one of the main elements of the Inter-Company Solution. After a detailed evaluation, the customer selected Microtest-ProgrammLine specialists to deliver the ICS Tool.

The Solution

Over a seven month project, a team of Microtest-ProgrammLine specialists worked closely with the client to successfully develop and implement the ICS Tool for 400 users.

Aimed at two user levels – the local user (Reporting Unit User) and the Head Office user, the ICS Tool was to serve as a communication aid between multiple reporting entities and the single source of the reconciled data, while maintaining consistency with the client’s methods of reporting.

The ICS Tool fulfilled the following Client requirements:

• Maintenance of the corporate register and registration of relationships between corporate entities
  
• Registration of inter-company deals and transaction data by:
  • interactive browser-based data entry and validation
    
  • importing data from XML files
    
  • XLS
• Importation of report files supplied by Hyperion Pyramid (a system for consolidated reporting)
  
• In-tray messaging to alert users of receipt of new data on inter-company transactions, reconciliation and settlements, and changes in data status
  
• User access to data on:
  • Group entities
    
  • Inter-company transactions and their status
    
  • Reconciliation and settlements
    
  • Trial balance extracts
    
  • User access rights
    
  • Data and report statuses
• Provision of an end-user facility for change transaction data status (including reconciliation dispute resolution status), and current liabilities settlements status

Benefits:

• Faster period close. The ICS Tool requires and enables reporting entities to reconcile inter-company balances more frequently. This accelerates issue resolution and reduces the likelihood of unexpected differences occurring at period end.
  
• Reduced post-period adjustments. The ICS Tool facilitates inter-company confirmation of balances, as agreed by both parties. This agreement significantly reduces the need to make post-period adjustments.
  
• Compliance with corporate standards Uniform implementation of procedures and processes has brought compliance to both reporting and reconciliation functions across the company
  
• Accessibility. The web-based zero-footprint client enables every subsidiary to quickly access the ICS Tool while avoiding the need for local software installation
  
• Ease of use. Designed around user requirements, the ICS Tool is easy to learn

Tools and Technologies

• MS Windows 2003 Server (Ent. Edition)
  
• Clusters’ solution
  
• MS SQL Server 2000 (Ent. Edition)
  
• .NET
  
• MS IIS 6.0
  
• MSXML 3.0
  
• ODBC

Related links

www.programmline.com

Post Your Story, Tell All About Your Success!

If you want the story of your company to appear on the portal please fill out this form and send it to [email protected]. We would also like you to leave contact information (name, e-mail, phone) of a person who is responsible for filling the form to clarify any questions, which could appear.

Available Success Stories From Companies:

Disclaimer

All information contained in this Section is owned by RUSSOFT.org and its Participants and is protected by Russian and international copyright laws. Any reproduction or republication of all or part of this Section has to remain intact and include a notice on the copyright of RUSSOFT.org or the Participants, as applicable.

While the information of this Section has been presented with all due care, RUSSOFT.org does not warrant the accuracy, completeness, usefulness and truth of Section’s information, links and logos derived from third parties. RUSSOFT.org is not liable for any loss or damage occurring from the use of this Section’s materials.