"From the Strategy" – a Unified Reference Information Base helps Mining Machines to follow accepted business model
Mikhail Potapov, the financial director of the Mining Machines company, made a presentation at the largest summit of financial directors in Moscow.
Traditional practice of implementing Enterprise Resource Planning system in companies and holdings has a gap between their development strategies. According to MrPotapov, the Mining Machines company has a goal to develop and implement a unified reference information base (URI) which ensures the complete functioning of the accepted business model. It will be developed in line with the company's development strategy which includes four areas: after-sales business, account management, product portfolio and production efficiency. The accurate planning will move the company from "chaos to control" and balance production, commercial and financial indicators. The company has already made a number of important steps in defining the volume of reference information which needs to be unified. Implementing of URI will reduce time for management solutions, make corporate accounting process more cost effective, minimize human factor risks, as lost or incorrect information, give the opportunities to forecast "smooth" resource spending on complete automation of business process and provide its development in accordance with the strategic goal of the Company - a maximum possible amount of free cash flow. There were about 60 speakers in the Summit. They were the financial directors of leading Russian and foreign companies, who could share their experience and best practice examples, discuss the latest financial situation.