PROMINVESTBANK IN PARTNERSHIP WITH EGAR TECHNOLOGY UKRAINE INTRODUCED A NEW CORPORATE INFORMATION SYSTEM

A new corporate ERP system has been implemented in Prominvestbank, which holds the processes of administrative and business activities of the bank in single information environment. The project covered all the key areas of bank’s middle-office, such as accounting and tax accounting and reporting, procurement processes, inventory accounting, accounting and rental of real estate, control of the budget on administrative and investment costs. The expert team of EGAR Technology Ukraine is the technological partner of the project.

“The bank’s strategy to centralize and optimize the internal structure included the task to build a new information platform for middle-office, – says Victor Bashkirov, the Chairman of the Board of Prominvestbank. – It was important for us to transfer the processes of administrative and business activities of the bank from various separate systems into a single information field. The implementation of the ERP system allowed us to centralize middle-office functions and to significantly reduce the time and administrative costs.

The realization of such a large-scale project took just over a year: it started in September 2011 and in January 2013 the ERP system has been put into commercial operation. The responsibility for the successful launch of the new system was laid on the bank’s project team and the experts of EGAR Technology Ukraine, Prominvestbank’s partner in this project. ”

“The basis of the new information platform of Prominvestbank is an advanced solution by Corporation Oracle – Oracle E-Business Suite, – comments Serhiy Tarasenko, CEO of EGAR Technology Ukraine. High efficiency of the OEBS applications, their scalability and flexibility allow the bank to use all their potential for process optimization, and already now we can evaluate the effectiveness of investments.

Along with the introduction of the OEBS applications in Prominvestbank our experts also carried out the localization, development, and integration with other systems of the bank.”

Briefly about the project. The project of constructing a new ERP information system in Prominvestbank was launched in September 2011. The purpose of the project was construction of a unified information platform to support the processes of administrative and business activities of the bank. In January 2013 the ERP system was put into operation and integrated with external systems of the bank. The introduced information system provides processes such as the management and control of procurement, accounting of inventory, accounting of fixed assets and intangible assets, property management of the bank, control and accounting of transactions with suppliers and customers, accounting and tax accounting, payments for employees and etc.

Prominvestbank

“Joint-Stock Commercial Industrial Investment Bank (Prominvestbank)” PJSC is one of the leaders of the Ukrainian financial sector. It was founded in 1992.

Prominvestbank is one of the largest and most reliable lenders of Ukrainian economy. During the years of independence, the bank has invested in the development of the economy more than $60 billion of lending resources.

The main shareholder of Prominvestbank since 2009 is “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” State Corporation (Russian Federation), which posesses 98% of shares.

One of the key objectives of the bank today is to support a strong partnership between Russian and Ukrainian enterprises and ensure mutually beneficial economic dialogue between the two countries.

Press office of Prominvestbank

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e-mail: press@pib.ua