National Mining Company Tau-Ken Samruk JSC is a vertically integrated company and effectively engages in the following areas:
- Exploration, development, production, processing, and marketing of solid minerals
- Effective management of transmitted Company shares of mining and metallurgic industry
- Development and introduction of new high-tech and efficient technologies in the mining industry
- Reproduction of mineral resources potential of the republic
- Development of non-commercial reserves deposits
NMC Tau-Ken Samruk JSC is a group of companies of Sovereign Wealth Fund Samruk-Kazyna JSC. The holding includes 19 enterprises that operate using various software products based on 1C:Enterprise 8 platform.
Business challenge
- Reduce the preparation time of individual and consolidated accounts
- Ensure the transparency and quality of accounting data provided by subsidiaries
- Ensure the integration with the corporate consolidation system of JSC NWF Samruk-Kazyna
1С-Rating was involved as a versatile integrator for implementing the project objectives. Extensive experience in implementing similar systems and understanding of industry specificity were the key advantages for choosing this company as a partner for the project.
Additionally, during the methodology preparation stage, the KPMG specialists joined the integrator team. Coordinated work of two highly skilled teams allowed to form a high-quality methodological framework of the project, which was the key to the continued success of the project.
Project results
- Uniform chart of accounts and key qualifiers were developed. Template rules for the preparation of individual reporting subsidiaries of the holding company were prepared
- A full range of works on the audit, development, and deployment of the project's technical architecture
- The unified module on the side of subsidiaries accounting systems for accounting data transformation in accordance with the approved methodology of the project was developed and replicated
- Developed a set of financial statements, consisting of 90 types of reports and the rules of its preparation
- Developed algorithms of integration with the consolidation system of the management company
- Developed regulations and instructions describing the procedure for inclusion into the perimeter of consolidation and the procedure of reporting
The full operation of the system has begun in August 2016. Presently there are more than 20 users and the operational and quarterly actual consolidated reporting is prepared on a monthly basis.
The system is now in the post-project maintenance state. An expansion of the organizational perimeter is proposed for future work.
