Hines International Inc. located in Moscow, is engaged in the management and operation of Class A commercial real estate, development, construction management and leasing.
Facing the need to automate financial, accounting and tax accounting, the management of the Moscow office of Hines International, Inc. decided to create a single information system.
1C-Rarus was chosen by Hines International Inc. as a contractor on the project, being a highly professional and reliable partner with extensive experience in the automation of accounting systems, with ISO 9001: 2015 certificate confirming the quality of the management system.
The 1C-Rarus:Finance Management 3 software, a product of the 1C:Enterprise 8 program system, served as the basis for building new information system. The continuous support and updates of the accounting system by the manufacturer played an important role while choosing the software because it’s allowed the accounting to be performed in full compliance with the current Russian Legislation.
Introduction of the new accounting system allowed to automate such tasks as:
- Accounting:
- Bank and cash desk;
- Settlements with counterparties;
- Inventory items;
- Trade transactions;
- Fixed assets;
- Intangible assets;
- Period-end closing;
- Regulatory reporting.
- Tax accounting.
- Budgeting, financial planning.
- Financial analysis.
- IFRS accounting.
Image from the site www.hines.com
The 1C-Rarus specialists conducted the following works during the project:
- Provided advice on the software choice and options for its support.
- Processed the sale and delivery of the chosen software.
- Gathered and analyzed the client requirements for the automated system.
- Ensured methodological support and technical implementation of specific accounting and management features:
- Improved the mechanisms of partially automatic filling out of system documents, the entry on the template-basis, business transactions reflection of the international accounting, accounting of income and expense budgets in particular forms necessary for more convenient and swift preparation of company's management reporting. Hence, the system performance has been enhanced due to revision, unification and complex testing of extended functionality.
We developed a unique mechanism for managing extended features, which makes it very easy to customize the functionality of Hines to the needs of each individual legal entity of the holding. - The existing Company’s external reports and processing were adapted to automate the Company's document management. Configuring the extension mechanisms allowed us to implement all the extended functionalities, which significantly reduced time for updating the software versions.
- Improved the mechanisms of partially automatic filling out of system documents, the entry on the template-basis, business transactions reflection of the international accounting, accounting of income and expense budgets in particular forms necessary for more convenient and swift preparation of company's management reporting. Hence, the system performance has been enhanced due to revision, unification and complex testing of extended functionality.
- Created interfaces and sets of user rights.
- Set up the initial settings of the program to start the accounting.
- Conducted user training.
The support of the accounting system is also being carried out.
The use of the new information system made it possible to automate the accounting, tax and financial accounting in the Company, it significantly reduced labor costs for the preparation of financial statements, and also reduced labor costs for updating and making sure the configuration is up to date. The IFRS module allows users quickly create transactions according to the international standard. Thanks to the integration of all financial services, it became possible to control the financial results of the Company.
