The software product is intended for complex automation of holding management companies and covers the main areas of management and fiscal accounting:
- budgeting and centralized treasury,
- management reporting consolidation and business analysis,
- contract management
- project management,
- strategic management in accordance with the Balanced Scorecard,
- accounting and tax accounting in accordance with the legislation of Ukraine,
- accounting, preparation of separate and consolidated statements in accordance with IFRS,
- master data management (reference information) of a group of companies.
The target segment of BAS Management Holding is a group of companies with full or partial centralization of financial management functions, whose management companies and business units are heterogeneous in terms of industry affiliation or operating IT systems.
"BAS Management Holding" includes a budgeting subsystem that allows you to:
- independently determine the business user the list of necessary classifiers, analysts, indicators, develop budget models and reporting sets for various purposes;
- to forecast the dynamics of indicators using various options for calculating, consolidating and distributing indicators, as well as the functions of "rolling planning" and "planning from what has been achieved", to quickly form the necessary budgets. In this case, you can combine the planning methodology from the bottom up and top to bottom, use the mechanisms of reconciliation and exclusion of intra-group operations;
- to maintain the necessary principles for the allocation of financial responsibility centers thanks to the developed functions for managing the organizational and financial structure of the group;
- regulate the budget process and distribute responsibility between its participants, use routes of any complexity to coordinate budgets;
- automatically notify the progress of the approval process of the employees involved in it;
- reduce time and improve the quality of planning and operational analysis of budget execution through the use of a thin web client and a special add-on client for Microsoft Excel.
- comprehensively use the single-period and multi-period “Report Instance” form and the universal “Summary Table” in combination with the approval tools and budget process templates to select the most convenient tools for various participants in the budget process.
MULTI-PERIOD FORM OF "REPORT INSTANCE"
It allows you to enter, comment, coordinate data on the entire planning horizon, comfortably use the "Period" analytics, has dynamic totals functions that simplify data entry and modeling, and allows you to use forms that are as close as possible to the usual presentation of budget forms.
Despite the fact that the multi-period form is designed to enter data for one CFD and the scenario, comparative information on arbitrary key measurements, as well as corresponding deviations, can be displayed in it.
Using this form, you can update budgets according to operational planning and set limits based on budgeting indicators. Reporting process templates support multi-period report instances.
The subsystem allows you to automate the life cycle of an investment project from an investment idea to the completion of a project. "BAS Management Holding" allows you to determine the decomposition of the stages of projects or programs of interrelated projects, specify the responsible, timing and resources used. The resources of investment projects can be any configuration reference (for example, "Employees", "Nomenclature", "Non-current assets"). For resources, natural and cost parameters can be indicated. The hierarchical structure of the stages can be imported from Microsoft Project.
The project is a global analytics for management accounting. Due to the ability to link budget indicators, the fact and reservation of budgets of cash flow, income and expenses, resource flow with the stages of projects, the system allows you to reasonably and extremely accurately carry out budgeting of projects.
According to the project budgets, their key performance indicators (NPV, IRR, payback period, profitability index, etc.) are automatically calculated.
In order to automate the pre-investment phase, the applied solution allows you to determine the criteria for comparing alternative projects, conduct their comparative expert assessment, and include in the investment program a truly optimal project portfolio. Convenient visualization tools (Gantt chart and sequence diagram) allow you to visually present summary information about the project. Directly in the Gantt chart, you can draw a chain of updating the project - from changing deadlines to automatically calculating key indicators of project performance.
Dashboards allow you to visually update project indicators on the fly through the sharing of interactive Gantt charts, pivot tables, and analytical reports. The reporting of this subsystem allows analyzing the status, progress, key performance indicators from various angles, and conducting a factual plan, "what if?" or comparative analysis of investment projects.
LIMITATION AND "PAYMENT FACTORY"
Limitation is available in the space of three budgets: BDR, BDSD, the budget for the movement of resources. Limits are defined in the budgets at the planning stage and are controlled in the documents "Budget Reservation" and "Application for Operation".
The subsystem "Centralized Treasury" of the BAS Management Holding application solution is organized in accordance with the concept of the "payment factory" and provides enlarged and detailed cash flow planning, instant and short-term liquidity management, and allows you to combine centralized and decentralized holding cash management models.
A payment calendar with improved ergonomics allows you to forecast “what if?”, Save, restore, email simulation results. A probabilistic flow planning model, depending on the horizon, the data sources used for the liquidity forecast, can significantly improve the liquidity forecast. Convenient tools for the redistribution, attraction and placement of liquidity simplify the balancing of the payment position.
Directives prohibiting /permitting payments allow you to quickly set up simple rules for restricting payments without resorting to advanced limiting functions.
The subsystem allows to improve the management of receivables and payables, credit, currency and interest rate risks in conditions of high volatility of key macroeconomic indicators.
The payment calendar implements the optional display of turnovers and late payments, setting the reliability of information sources for assessing cash flows and the planning horizon, stress testing the loss of liquidity.
Hedging tools for currency and interest rate risks:
- settlement currency forward;
- interest rate forward;
- interest rate swap;
- currency interest rate swap.
The registration of counterparty credit ratings assigned by rating agencies has been automated. They can be used to set the counterparty risk category to determine the marginal settlement conditions.
The liabilities management function for expenditure agreements allows you to manage your current debt level, quickly identify discrepancies between payment and accrual schedules, update schedules and generate payment requests.
Instruments for managing liabilities under income contracts allow the manager to control the debtor's debt level, automatically generate reminders about the approaching payment date, and initiate claim work and factoring operations.
The obligations management functions allow increasing the loyalty of customers and suppliers with an acceptable level of payables and receivables.
CENTRALIZED PURCHASE MANAGEMENT AND TREATY MANAGEMENT
The subsystem "Centralized Procurement Management" is designed to aggregate the need for material support of business units, automate tender procedures, including scoring suppliers and tender proposals, contracting, centralized procurement, and decentralized procurement control.
The subsystem is oriented to work in the conditions of geographically distributed groups of companies in which business units use various inventory management systems and can reduce costs for purchased items due to economies of scale.
The model of contract conditions, specifications and additional agreements, as well as the possibility of coordination allow us to automate the full life cycle of the contract.
IFRS ACCOUNTING AND REPORTING
The BAS Management Holding application solution supports IFRS accounting in two models: transactional and transformational. A transaction accounting model is most effective when accounting under IFRS is carried out in the same information system as accounting under NAS. The transformational approach is recommended to be used if the data of the NBU are transmitted by subsidiaries and affiliates in the form of data collection forms.
For both accounting options, the functions of translating NSBU financial information to the IFRS chart of accounts are implemented. In addition, more than 50 operations on parallel accounting facilities are automated, accounting policies for which, as a rule, differ from the accounting policies of the National Bank of Ukraine:
- fixed assets;
- intangible assets;
- assets held for sale;
- biological assets;
- loans and borrowings received;
- loans issued and deposits;
- financial instruments carried at fair value (securities, derivative financial instruments);
- leasing received and issued;
- accounts receivable (reserve and accounting at amortized cost);
- reserve for stocks;
- reserve for litigation claims;
- accrual of income and expenses without supporting documents;
- closing of the period, including costing, deferred taxes, balance sheet reformation;
- elimination adjustments, including the calculation and elimination of unrealized margins in group assets;
- accounting for investments, acquisition /disposal of a business, recognition of goodwill;
- consolidation amendments (elimination of investments, calculation of NDU (non-controlling interest in capital)).
As tools for "quick close" the system offers:
- The portal of accruals of income and expenses, which ensures reflection in accounting of transactions without supporting documents and their comparison with the actual documents of the next period.
- Possibility of closing the IFRS period before the National Accounting Standards (“double closure”).
- Intra-group reconciliation portal - provides reconciliation in the "Each with each" mode, dramatically reduces the burden on the management company and subsidiaries, supports arbitrary reconciliation details, resolves discrepancies and contains services that simplify communications in the reconciliation process and shorten its time. The intra-group reconciliation template designer supports 5 standard options for elimination corrections and simplifies implementation. The Transformation Table tool simplifies the reflection of manual transformation adjustments and data analysis during transformation and consolidation procedures.
The system implements a package of individual and consolidated reporting, as well as notes to it. The functionality of the IFRS accounting and reporting subsystem received a positive opinion from EY (Ernst & Young).
In BAS Management Holding, integration scenarios can be implemented using universal integration tools of an application solution designed to receive data from external information systems on the 1C: Enterprise platform, as well as using standard OLE DB providers from other sources.
The subsystem is designed to regulate reporting processes, approval routes, business processes for processing accounting documents. The possibilities of extracting data from external information systems and generating new objects in them, supplemented by functions of conditional transitions, waiting for events, timeouts, automatic approval and rejection of objects, sending alerts and reminders, allow us to automate a wide range of cross-functional and cross-system business processes.
Since the business logic of universal processes is configured in user mode without the use of a configurator, the implementation and maintenance of the described functionality is greatly simplified.
The universal functionality of alerts about past events and reminders of the approach of their planned dates increases the efficiency of communications. The reconciliation function allows you to endorse documents without having to go to BAS Management Holding, but using any (including mobile) email client.
State management of objects allows you to automate not only the coordination of objects, but also the life cycle of any object.
UNIVERSAL FINANCIAL REPORTING
The system allows you to reduce the time to overcome the "last mile of financial reporting" - from the original analytical tables in "BAS Management Holding" to the file sent to consumers reporting, containing not only the IFRS or budget campaign reporting forms, but also their detailed analysis (often called MD&A). The range of tools includes:
- convenient opportunities for preparing a visual report form;
- visual conclusion of comparative information of other analytical sections and derived indicators (deviations, arbitrary expressions);
- multi-page presentation of a report instance with the possibility of a detailed analysis of the financial information of each page;
- tools for managing the process of preparing reports, coordinating and commenting on financial reporting indicators that allow organizing effective employee communications;
- dynamic filters and control ratios that help identify errors in reporting not only at the level of synthetic indicators, but also at the level of their analytical disclosures.
The system includes tools for managing the risks of functional subsystems (interest, currency, credit, tax). They allow you to organize a unified risk management system in the company, including:
- procedures for identification and preliminary assessment of arbitrary risks;
- functions for planning preventive measures to reduce potential damage and the likelihood of risk events occurring;
- accounting of incidents and a response plan to them;
- visual tools for interpreting risk damage in plan-fact analysis data.
The subsystem has common analytical sections with the subsystem "Balanced Scorecard", which allows the company to use a set of decision support tools taking into account the most likely risks and opportunities.
The analytical tools of the applied solution make it possible to implement a multilayer analysis of the accumulated information from the general picture to its detailed presentation. The product provides flexible tools for graphical representation of the analyzed information, including visual dashboards and indicator panels. Among the advanced functions of business analysis can be noted factor analysis, sensitivity analysis, modeling of “what if?”, Reverse calculation of initial indicators, optimization of the target indicator, the ability to use for analysis not only the data of the current information base, but also external information bases. Dashboards can include tabular analytical reports, key indicator monitors, charts, including a "Gantt chart", "budgeting summary table".
Dynamic calculation of dependent panel elements is implemented when these elements change, which makes analytical panels a convenient interactive tool for analyzing and entering data.
To organize recurring events (procurement procedures, Balanced Scorecard initiatives, risk management activities, etc.), a functional has been developed that allows you to create templates for multi-stage events, based on which you can manually initiate or schedule events, as well as control the timing of stages. It is possible to plan and register the costs incurred during the implementation of the event.