19 may 2009
GMCS developed a comprehensive accounts correspondence solution for SIBUR Holding
GMCS announces the completion of works on the establishment of a specialized accounts correspondence solution for SIBUR Holding, Russia's largest petrochemical enterprise.


The goal of this project was to optimize business operations and speed up the receipt of operative and analytical reporting on the holding company's activities. As part of the project GMCS consultants created a unified data warehouse for the formation of bookkeeping accounts based on Oracle E-Business Suite, as well as ensuring the possibility of obtaining accounts correspondence in compliance with industry specific features and accounting standards of the Russian Federation.


The project for the implementation of the accounts correspondence solution was initiated by  SIBUR Holding as part of comprehensive management automation based on Oracle E-Business Suite business applications. Since software already existing on the market could not fully live up to the tasks that the company is faced with, SIBUR preferred a new development, the creation of which was handed over to GMCS.  The deciding factor in the selection of the project executor was the fact that the architecture of the IT-solution proposed by GMCS consultants complied to the company's main requirement – possibility of forming accounts based on data coming from various Oracle E-Business Suite modules throughout the whole accounting period. business applications. Since software already existing on the market could not fully live up to the tasks that the company is faced with, SIBUR preferred a new development, the creation of which was handed over to GMCS.  The deciding factor in the selection of the project executor was the fact that the architecture of the IT-solution proposed by GMCS consultants complied to the company's main requirement – possibility of forming accounts based on data coming from various Oracle E-Business Suite modules throughout the whole accounting period.


The foundation of the IT solution architecture was formed of the many years of project experience and the developments of GMCS consultants in the field of accounts correspondence. As a result a solution was created – a convenient tool that allows to get information in a format that’s familiar to accountants and fully complies to Russian legislative provisions.


The GMCS-designed solution for account correspondence has gone through pilot operation at one of the SIBUR Holding Company enterprises.


"The solution was designed in accordance with SIBUR Holding Company requirements so as it could later be replicated at other enterprises of the holding company," says Dmitry Gorbachev, Head of the IT Service at SIBUR Holding Company.


"During the project we developed an independent solution, its distinguishing features being flexibility and versatility," comments Marina Gornaya, Head of the Oracle Solutions Department at GMCS, on the results of the project. "Using this solution any company regardless of industry or scale can significantly minimize distortion of management accounting data and increase transparency of financial operations in general."



About SIBUR


SIBUR Holding is the largest Russian manufacturer of petrochemical products, namely, synthetic rubbers, tires, polymers and liquefied gases. The holding company, SIBUR Holding, has 34 plants across Russia, which employs several tens of thousands of people. SIBUR is managed along product-division lines – Hydrocarbon Feedstock, Synthetic Rubbers, Plastics and Organic Synthesis Products, Mineral Fertilisers and Tyres.


SIBUR Holdings' shareholders are: Gazprombank Group (70 percent -1 share) and the Gazfond Non-state Pension Fund (25 percent +1 share). The management organization LLC SIBUR acts as the holding company’s sole executive body. Over recent years, the company has consistently delivered healthy financial and operational results. In 2008, SIBUR Group's plants produced 14,791 thousand tons of petrochemicals and 13,306 million cu m of dry stripped gas. Income during that year was 142.7 billion roubles, with a net profit of 22.3 billion roubles.

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