1 september 2010
GMCS implemented Microsoft Dynamics AX Solution for management of financial reporting preparation processes at LANXESS
Lanxess, Russian division of the German chemical concern LANXESS, automated their financial accounting based on Microsoft Dynamics AX in accordance with requirements of the Russian legislation and corporate standards of financial reporting.


The implementation of the project is provided by GMCS. Concern LANXESS AG, listed on the Frankfurt Stock Exchange, is the largest manufacturer of the wide range of chemical products represented in all important global markets. Their sales through 44 LANXESS Representative Offices in 21 country of the world amounted to EUR6.58 billion in 2008.


The Concern adheres to the principle of stepwise development as a basis for any activities of LANXESS. To expand the Concern’s opportunities for serving customers in the CIS countries, a subsidiary of Lanxess opened in Russia in January 2009.


In accordance with corporate standards, Microsoft Dynamics AX is one of the typical solutions for the automation of management and financial accounting. In the end of 2008, the LANXESS management asked GMCS to solve the following task: financial accounting automation at Lanxess in accordance with the Russian and corporate standards of financial reporting.


At the first stage, the GMCS consultants together with the specialist from the LANXESS Headquarters and Aixonix, a German IT-company, analyzed the LANXESS solution in terms of compliance with the Russian law provisions. In the result, a matrix was developed giving an idea of the main differences between the requirements of the Russian law and the corporate standards of LANXESS. Then based on this matrix, customization of the financial accounting to the Russian standards was made.


Then the project team started to design a financial analytical model for Lanxess, based on which their reporting is prepared now in accordance with the Russian standards. At this stage, a decision was made to maintain a parallel accounting of economic operations with the original posting thereof to the Russian chart of accounts and further translation of the data to chart of accounts in accordance with the corporate standards.


The Lanxess financial accounting system based on Microsoft Dynamics AX functions in normal operating mode today.


"Microsoft Dynamics AX is used in the framework of LANXESS including for the preparation and timely submission of the corporate reporting package to the Head Office. The GMCS specialists implemented additional tools in our system that enable to maintain accounting also in accordance with the provisions of the Russian law thereby avoiding additional labor costs," says Natalia Vorobyeva, Chief Accountant, Lanxess.


"Based on the results of the successful project, the cooperation of Lanxess and GMCS continues. The Technical Support Service specialists of the Microsoft Solutions Department at GMCS together with the Lanxess specialists provide current support of the implemented solution," notes Oleg Lysov, Microsoft Solutions Department Director at GMCS.



About LANXESS


LANXESS – is the largest German company – manufacturer of specialty chemicals that operates in all important global markets. Production facilities of the company are represented by 44 enterprises employing 14,800 people in 21 countries across the world. Based on the results of 2008, LANXESS achieved sales of EUR6.58 billion. Its core business comprises the development, manufacture and sale of plastics, rubber, specialty chemicals and intermediates.

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