Uzsanoatkurilishbank introduced the "Budgeting" system based on SAP technologies

On May 10 of this year, the presentation ceremony of a major project developed by Uzsanoatkurilishbank on the basis of SAP technologies - the "Budgeting" system - was held in the international business center "Intercontinental Tashkent" in our capital. The event was attended by representatives of the Central Bank of the Republic of Uzbekistan, the International Finance Corporation, international auditing organizations and commercial banks, journalists and bloggers. In the decree of the President of May 12, 2020 "On the strategy of reforming the banking system of the Republic of Uzbekistan for 2020-2025", a number of tasks aimed at digitalization of the industry based on modern information technologies are defined. In the process of transformation of Uzsanoatkurilishbank's activities with the support of international experts, special attention was paid to the execution of these tasks. New financial models and projects aimed at efficient management of banking business based on them have been launched. In particular, the "Budgeting" system, created on the basis of the advanced German SAP program, is among them. The system includes areas such as budgeting and monitoring of business units and bank products, formation of transfer pricing for bank resources, distribution of costs for bank products. Specialists from leading international companies were also involved in the implementation of the project, and they closely assisted in the development of financial management methodology and the implementation of financial programming. At the presentation ceremony, detailed information was given about the stages of implementation of the "Budgeting" system, the degree of use of international experience in this regard, and the possibilities of the program. As noted, the system analyzes the internal and external factors of changes in the bank's financial indicators, identifies stable sources of increasing profitability, plans the institution's profit for each bank product and sales point, and correctly assesses the financial condition of the branches. they provide such opportunities as optimization of operations, strict control and optimization of expenses, and proper distribution of resources to the banking business. Also, the "Budgeting" system supports the creation of client-oriented transparent banking products and services, which determine the need to reduce costs, determine the directions for the development of low-profit products. - During the implementation of the project, each direction was approached separately, - says Oybek Vahidov, director of the Department of Accounting and Financial Management of ATB "Uzsanoatkurilishbank". - In particular, from the "SAP Business Planning and Consolidation" program for the implementation of unified budget models for banking business lines and products, from the "SAP Profitability and Performance Management" program for the introduction of models for the distribution of costs and transfer pricing for bank products, financial "SAP BO Web Intelligence" program was used to develop the visualization of indicators. At the end of the event, prospective plans for effective management of banking business were presented to the guests