OREANDA-NEWS. January 10, 2012. HMS Group in cooperation with Lanit launched a project for implementation of Oracle Hyperion Financial Management (HFM) information system in the head office and subsidiaries of the Group. This software supports the collection, consolidation and reporting of financial results in IFRS, and the reconciliation of differences among the various standards.

Up till now in accounting the Group has used different resources and programs that require the finalc consolidation of huge amount of electronic tables. This led to extra costs and delays in preparation process. In order to optimize and enhance the process the Group management decided to computerize the process of the financial results preparation. Lanit – the leading Russian systems integrator and platinum partner of Oracle corporation- was chosen as a software supplier.

The implementation of Oracle HFM will essentially reduce the time needed for the preparation of the financial results. New system guarantees the integrity of consolidation model, provides for transparency and facilitates the audit of the accounts. HFM is a flexible program allowing adaption of the accounts in case of the Group structure changes and can be upgraded.