FORS has Implemented in SIBUR Consolidated Reporting System Based on Oracle Hyperion
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FORS Group has announced the completion of the project on the total modernization of the corporate monthly reporting system in SIBUR Holding. Single consolidated system has been deployed on the base of Oracle Enterprise Performance Management Architect (EPMA) and Oracle Hyperion Financial Management (HFM) and was launched into industrial operation.
During 7 months it was conducted migration of the financial planning and international finance reporting subsystems, operated on the abandonware, on the updated Oracle EPMA version, with developing on their base a single upgraded reporting system.
This FORS project is a good example of the successful IT-implementation in the Russian oil & gas industry, what proves the statement of the SIBUR Corporate Reporting and Controlling Director Alexander Petrov: «We are quite satisfied by the result. It was made much more than has been planned. Professional and comprehensive approach of the FORS team enabled quick and correct solution of the most hard and uncommon tasks».
«Indeed, totally full modernization of our reporting processes was performed, and 2 separate systems were consolidated together in quite a short time, what was not that easy for a large-scale project like this. Our ticket to success — coordinated and efficient work of the joint team of the integrator and us», — added Ilya Zyrianov, CIO of SIBUR.
Updated system includes 5 subsystems on 4 levels of the data processing, providing detailed data aggregation, storage, loading, consolidation of the reporting data and producing of the reporting documents. It was shifted on a new platform several dozens of reports with the full data output during the last 4 years by the 4 different timing scenarios (annual strategic plan, monthly plan, quarter by fact and monthly by fact). On the customer’s demand it was developed 15 new reports. Flexible abilities on applying certain scenarios provide producing of the correct, complete and consolidated financial information on characteristic values, budgets, forecasts and plans. Scheduled detailed reports in an ordered format include correct financial information as for the in-house management and control, as for the external public regulators.
Also, data could be imported from the SIBUR accounting systems directly. Safe access to the financial information is provided by the standard Web-brouser.
One of the clue highlights of the project — successful refinement of the consolidated data of the whole SIBUR Holding up to the level of the account departments of the divisions of each enterprise.