SUEK wins the first annual SAP Value Award
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SAP integrated solutions which have been utilised by SUEK have been highly praised by members of the award panel, based on overall vote and have been recognized as the winning project at the first annual SAP Value Award.
The main objectives behind introduction of SAP at SUEK have been to reduce period end closing and signing of audited IFRS statements; to improve quality of the accounting function with concurrent reduction of labour input, accounting department headcount and accounting costs. Solutions such as SAP ERP, SAP HR, and SAP BI have been used to implement this initiative. The new systems have been instrumental in expanding economic control functions and eliminating conflicts of users’ authority. The fact that the management can now quickly receive high quality information which enables them to react to the changing environment and make decisions in a timely manner has become one of the most important outcomes of implementing SAP integrated solutions.
About RUB 300m of savings per year by reducing accounting and reporting labour cost has been one of the benefits of introducing SAP. As explained by Andrey Vanyushin, Deputy CFO of SUEK, “in terms of financial reporting the company has risen through the ranks from an outsider to a recognised best practice bearer.” Benefits from introduction of SAP are of systematic nature and will continue to develop in the future.