RussNeft introduces BPM

In March, 2006 RussNeft group decided to launch a project of setting up Business Performance Management, BPM on the basis of Hyperion Solutions Corp. products. The project includes the issues of budgeting, management accounting preparation, collection, restating, and consolidation of financial accounting in accordance with International Accounting Standards, IAS. The project plans to elaborate the required approaches and automate these issues on the basis of Hyperion Systtem 9, a software system.
By now, the first stages of accounting consolidation and restating have been fulfilled. The launch of the software adjustment stage is scheduled for the nearest future.