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            november 25, 2017

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Indiaexportnews.com

United Wagon Company to transfer financial and economic accounting to SAP S/4HANA

  30.10.2017    

SAP CIS will help United Wagon Company (UWC) to install the SAP S/4HANA resource management suite.
Production volumes at enterprises of United Wagon Company have grown by 1.5 times over the past two years, with annual output reaching 16,000 freight cars. The product range has been expanded to include 45 high-tech car modifications and the Company has entered international markets. The volumes of information collected and analyzed by the Company have grown proportionately, creating a need for qualitative improvement of the IT tools, which the Company deploys. The issues that need to be addressed include new levels of transparency and production management, logistics, maintenance and meeting obligations to customers. In this context UWC has decided to create a unified financial management system based on the SAP S/4HANA resource management suite.
The goal is to set new standards for analysis of business information and making managerial decisions, by deploying the latest versions of SAP S/4HАNA and SAP BPC. The functional scope of the project includes strategic planning and budgeting, accounting and reporting for all types of accounting (book-keeping, financial, tax and management accounting, IFRS, and the preparation of consolidated statements).
The project has several aspects. First, the construction and implementation of a single data model, which enables rapid monitoring of changes, optimizes the workflow, avoids replication and reduces data volumes by at least eight times. Staff will be able to take timely and informed business decisions on the basis of operational data, without waiting for the end of the reporting period and with due account for the Company's strategy and/or budget. Reporting will be prepared as the relevant events occur. The system architecture allows integration with existing (historical) ERP-systems thanks to use of the latest Central Finance technology. This is the first time that such an ambitious and up-to-date resource management system has been implemented in Russia.
Vladislav Masenkov, the IT Solutions Delivery Director at United Wagon Company, commented,
"Our principal goal is transfer to a new level of information analysis using the potential offered by advanced SAP S/4HANA technologies. The new system enables us to significantly reduce financial and tax risks, financial auditing costs and the labor time of users by the use of a single information space."
Aleksey Petunin, SAP CIS Director for Work with Partners, SMEs and Small Business, commented "Installation of the most functionally developed systems will help United Wagon Company to maintain its position as the leading freight car manufacturer in Russia. The company will be able to manage its internal processes efficiently, boost its capacity for collection, storage and analysis of information, and develop customer orientation in its business.



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