GMCS automates budgeting for Askona

GMCS is implementing automated budgeting, analysis and forecasting system for the Askona Life Group, the largest vertically integrated manufacturer and retailer of healthy sleep products in Eastern Europe. 

According to independent experts, Askona occupies 52% of the Russian market for sleep products. The Group includes the largest factory of products for healthy sleep, several factories engaged in the production of raw materials and components, a factory of beds and sofas, as well as 820 branded stores in Russia and the CIS countries. 

“Askona adheres to initiative management, including financial area. We are building a system that allows you to control online financial flows, more efficiently plan resources to achieve the goals of company development. The system will automate full-cycle budgeting, as well as forecasting, analytics and control processes,” said Ivan Lashkov, Chief Financial Officer, Askona. 

The new budgeting system will save the retailer the time spent on collecting, checking and consolidating data in favor of analyzing and making management decisions. Using what-if analysis, specialists will be able to calculate several budget scenarios online in accordance with the adopted methodology and financial algorithms. 

Preparing corporate reports is also going to be simplified. Askona is moving away from uninformative and heavy Excel reporting to visual analytics. Users will be able to work with the data themselves using interactive dashboards, make visual measurements and build maps of strategic indicators. 

“GMCS has extensive experience in automating budgeting processes, including the retail and manufacturing industries. We are pleased that Askona appreciated our expertise and entrusted the implementation of this complex but interesting project. At the moment, we are discussing with Askona further cooperation in other areas of automation,” added Ekaterina Korbutova, Business Director, Project Manager, GMCS.