26 september 2007
RAC MiG and GMCS implement a new efficient asset management system
Russian Aircraft Corporation MiG, a leading Russian aircraft manufacturer, with consulting support from GMCS has automated the asset accounting and tax management software. 

Within the project GMCS implemented the Russian Assets module of Infor ERP (Baan IV), the company's enterprise management system. The main objective behind the project was to access specific timely information on the value of the company's business assets by creating a unified asset management system spanning the company's six geographically distributed sites.

Implementing the Russian Assets module resulted in establishing a mechanism for keeping accounting and tax records in full compliance with the Russian legislation, as well as securing access to consolidated financial information on all MiG assets. The project included integration of the implemented module with the General Ledger module of the company's IT system making it possible to automatically post transactions for the recorded operations with assets.

GMCS specialists also enabled keeping asset accounting and tax records for each segment individually, so that now the system works to produce financial reports and detailed situation analysis for each specific company asset.

"As a large manufacturing company we operate a large number of assets, over 20,000 positions at present. Keeping records for such a large number of assets was made more complicated by the lack of systems uniformity, which led to double input and misrepresentation of information," says Natalia Shlykova, Senior Accountant, MiG Engineering Center. "Thanks to the project realized by GMCS it takes less labor and time to prepare financial reports, all accounting operations are recorded correctly, and we have access to full information on the current value of our assets adjusted for amortization, upgrades, and reconstruction."

GMCS consultants within the project also adapted the implemented module to the next version of the Infor ERP LN (Baan 6.1) management system that the company plans to migrate to in the future.

About RAC MiG

FSUE Russian Aircraft Corporation MiG is Russia's first full-cycle enterprise combining all aspects of development, production, testing sales, post-sale support and overhaul of aircrafts, as well as training flight personnel and technical staff.
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