18 october 2010
IRKUT corporation turns to a single integrated accounting and control system
GMCS announces the completion of the deployment of the Single Information Accounting System based on Infor ERP LN (Baan) for Irkut Corporation.

The project works were performed in close cooperation with the Irkut specialists. To date, beta testing of a single integrated accounting system at the Irkutsk Aviation Plant and the Engineering Center of the company has been completed.

The system provides a common information base for accounting, tax, administrative and statistical records and enables quick and efficient generation of the appropriate types of reporting, including consolidated reporting, based on standardized data.

The Infor ERP LN System chosen by Irkut for the automation of accounting processes has been successfully used by the largest global and national aircraft producers, such as Boeing, RSK MIG, KnAAPO, UMPO, and thousands of production companies all across the world. For over the past years, the Infor ERP LN solution has absorbed the best management practices and ideas.

The project implementation is distinguished for its non-standard approach consisting in the parallel development of the accounting techniques by the Irkut specialists and their testing by GMCS in Infor ERP LN. This approach enabled to develop the accounting technique that requires minimum improvements at the stage the system beta testing.

Commercial operation of the system will begin in November 2010. In the near future, the system will be implemented at all enterprises of the UAC’s business unit which is formed on the basis of the Irkut Corporation.

Oleg Demchenko, President of Irkut Corporation, said: "The system provides transparency of accounting, effective control over financial and administrative operations and increases speed of management decision-making. It fully meets the requirements of state regulations as well as the IFRS."

"The accounting automation project implemented at Irkut Corporation is a scalable solution that takes into account the identities of the aircraft manufacturing industry. We assume that different participants of the aircraft manufacturing market need the implementation of such projects at the moment," comments Ekaterina Voropayeva, GMCS Verex President. "We highly appreciate our cooperation and are very happy that the GMCS expertise in the field of the project implementation based on Infor has been successfully applied by Irkut Corporation."

About Irkut Corporation

Irkut Corporation, the leader of the Russian aviation industry, provides a third of the United Aircraft Corporation’s revenue and shares over 15% of the Russian arms export. In 2008 and 2009, Irkut Corporation was awarded by the Ministry of Industry and Trade as "The Best Exporter of the Year" in the Aircraft Category. Over the past three years, the company revenue (under IFRS) increased by 35%, and exceeded $1.3 billion in 2009. Its order portfolio exceeds $6.9 billion.
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