#Projects
FINANCE SHARED SERVICES
This year our company conducts a large-scale project for transforming the finance center, and transitions to Finance Shared Services
(FSS). Similarly to the implementation of the New Operating Model, FSS project aims at improving efficiency of the ent ire Group.
F
SS is a global project on the markets and clusters of Imperial
Brands. The work scheme standardizes overall processes,
which helps new onsite financial teams to focus on the strategic
business objectives aimed at increasing commercial efficiency and
promoting sales.
All the repeated and routing transactions in the nearest time will be
performed by the IBM financial center in Poland under our supervision.
Over the last two years FSS project was implemented in Great Britain,
Australia, Germany, Spain, Poland, and the Low Countries, and now
in Russia.
Natalia Derepasko, Deployment Lead:
«A large international team comprising
of several departments and countries is
working on our project for transitioning
to the Finance Shared Services. The
project team comprises of specialists from
finance, legal, HR, IT, procurement and other
departments. All the major activities are supervised by the project
team from the head office. All the project milestones are developed
FSS IS A GLOBAL PROJECT
ON THE MARKETS AND CLUSTERS
OF IMPERIAL BRANDS
and tested on other markets of Imperial Brands, but we nevertheless
have to adjust the standard procedures to our environment with
allowances to the business interests and tasks in Russia.»
Over 6 months the FSS team and IBM partners were examining all the
existing financial activities and transactions, and developing a plan
for transitioning to the Finance Shared Services. The work of over
50 employees in the company was analyzed in every detail, along with
many processes related to our work with every supplier and buyer.
Tremendous job has been done so far, but a lot is still to be done. The
training of IBM employees in our activities and transactions has kicked off.
Julia Basharina, RTR SME: «Financial regulation in Russia
is not easy, and sometimes even tricky: transactions and
reporting are inspected and regulated from several sides.
Our specialists are well vested in all the intricacies of the
regulatory acts and procedures but we were really doubting
we would be able to successfully introduce our foreign
subcontractor to all the processes. But with the kickoff stage our
doubts fell away – IBM specialists are highly qualified and trained.»
The Finance Shared Services in Krakow, Poland, already service
transactions of several Imperial Brands markets, such as Germany,
Spain, Poland and the Low Countries. IBM is specifically compiling a
Russian-speaking team to efficiently work with the Russian market.
Miroslava Syarova, Transition Manager: «We are pleased
to work with ITG coaches, the planned sessions are conducted
according to the schedule, and are well organized. It is worth
NEW FINANCIAL MODEL
Financial
Service
of ITG Russia
Group’s
Financial
Service
IBM Finance
Shared
Services
Planning, forecasting and analysis
Support to innovations and investments
Group
CFO
Automated standard reporting
Most efficiently performed transactions
• Performs Group’s tasks
• Acts as an advisor and partner to the business
• Analyzes data and provides expert opinion
• Forms the company’s strategy
• Sets tasks for each country
• Defines rules and policies for all countries
• Monitors compliance of all countries with the Group’s rules
• Performs routine transactions
• Controls accounting entry
• Ensures data quality
• Guarantees unified work principles for all countries
IBM IS SPECIFICALLY COMPILING
A RUSSIAN-SPEAKING TEAM
TO EFFICIENTLY WORK WITH
THE RUSSIAN MARKET
noting that ITG coaches are highly qualified, with their experience
being invaluable for IBM, which is why we try to adopt the
information as thoroughly as we can, ask questions and specify
all the details, since these will affect the overall performance
of the Finance Shared Services.»
Until mid-July many of our employees from the financial and logistics
departments participate in the knowledge-sharing sessions, and
train the IBM team from Poland in various activities and transactions
to be transferred to the Finance Shared Services. All instructions
and procedures are thoroughly checked, and agreed with the FSS team
in Imperial Brands. Until the end of the financial year, FSS project will
change the work scheme of our team on the Russian market.
One of the key changes has already been announced – the mandatory
indication of the supply Purchase Order in the account. Without this,
no single invoice will be paid after the launch of the Finance Shared
Services.
Currently, FSS project team with partners from the Group and IBM are
developing new procedures and work schemes, testing new systems,
and will soon tell us about all the upcoming changes.
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