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Project for the implementation of the «Financial and Management Consolidation Systems» based on SAP Business Planning and Consolidation for LUKOIL Overseas

Project for the implementation of the «Financial and Management Consolidation Systems» based on SAP Business Planning and Consolidation for LUKOIL Overseas

Industry

Oil & Gas

Service

Development of the «Financial and Management Consolidation System» based on SAP Business Planning and Consolidation for NetWeaver ver.7.5 as part of a joint Project Team for LUKOIL OVERSEAS HOLDING LTD. (SBUK).

Company

The LUIKOIL Overseas Holding Ltd. is a subsidiary of LUKOIL, Russia's largest oil company, and represents its interests in the area of oil and gas production outside Russia. The activity of LUKOIL Overseas Holding Ltd. is performed in Azerbaidjan, Kazakhstan,Uzbekistan, Egypt, Iran, United Arab Emirates, Saudi Arabia, Columbia, Venezuela and Cote d'Ivoir.

Objectives

  • Replacement of the SAP SEM BPS and SAP SEM BCS systems with a common SAP BPC consolidation and budget planning system.
  • Automation of the processes of generating consolidated financial and management reporting.
  • Bring the consolidation and budget planning processes in compliance with the common consolidated reporting methodology.
  • Uniting consolidated financial reporting processes and budget planning processes into one data model.
  • Unification and optimization of the forms of actual and planned data collection from Holding companies
  • Ensuring the possibility of working with the System in the online mode

Implementation Description

The Financial and Management Consolidation System implementation let us achieve qualitative modifications in the processes of budgeting and consolidated financial reporting according to the increased requirements to the promptness of timely management decision making on the basis of full-scale analysis of the LUKOIL Overseas Holding Ltd. companies' activity.

Result

The project was successfully completed, the system is in production operation.

Client's comment

The high qualification of the Project Team let us successfully achieve all the objectives set during the project. LUKOIL Overseas Holding Ltd. expresses its gratitude to the Parma-Telecom LLC

Chief Accountant of LUKOIL Overseas Holding Ltd., Financial and Management Consolidation System Project Manager, Kiselyov Ruslan Yurievich

*- The project was implemented by the Parma-Telecom company (ITPS Group)


Feedback on the Financial and Management Consolidation System implementation in LUKOIL Overseas Holding Ltd** Article about the planning and budgeting optimization experience of the customer of ITPS Group published in the magazine “Chief Information Officer”**


** The material is available in Russian version only

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