|By PR Newswire||
|December 13, 2012 04:33 AM EST||
RAMSEY, Isle of Man, December 13, 2012 /PRNewswire/ --
Please refer to relevant legal information at the end of the document
IBS Group, a leading software development and IT services provider in Central and Eastern Europe, today announces that IBS IT Services, a member of IBS Group, has completed a joint project with Mail.Ru Group, Europe's largest Internet company, and SAP, a global leader in corporate performance management applications, to enhance financial management at Mail.Ru Group. A unified SAP-based management system will help streamline management processes at Mail.Ru Group and more than 20 of its offices, including those outside Russia, and ensure greater transparency and control of business.
The system created by IBS IT Services and Mail.Ru Group embraces all of the company's key financial and economic processes and comprises three solutions: Operational Accounting, Budgeting, and Reporting. The first facilitates operational accounting for business transactions, procurement, and outgoing payments. The transaction component is closely linked to Mail.Ru Group's IT systems, including a sales management system for online games and advertising. The budgeting subsystem allows annual plans to be generated broken down into business units, and implementation monitored based on operational accounting data. The reporting subsystem is designed to prepare tailored management and financial accounts. As a whole, the system allows records maintenance and the preparation of RAS and IFRS financial statements, tax returns, consolidated IFRS financial statements, and consolidated management accounts.
"Russian companies entering the global market have to reinforce their business processes. As a company with strong international credentials, IBS Group offers its customers best-in-class solutions, expertise and support throughout the world. The system, newly created for Mail.Ru Group, complies with customers' global standards and observes local accounting policies and procedures," said Alexander Saksin, Director of IBS Corporate Management Systems Department.
The new system cuts down the time needed to prepare consolidated financial statements three times. This is particularly important given rigorous regulatory policies and the requirements of the London Stock Exchange (LSE), where Mail.Ru Group's GDRs are listed, regarding the timeliness and quality of reporting.
"As we set ambitious business goals and have to meet higher expectations as a public company, we seek to enhance transparency and manageability of all the company's financial processes. The new financial management system that we have launched jointly with IBS brings our financial business processes in line with the best global practices," said Ruslan Aksyaitov, Deputy Financial Director of Mail.Ru Group.
Mail.Ru Group's unified operational financial management system currently covers six Russian legal entities within the group, including Mail.Ru and Odnoklassniki, as well as its online games units. It also covers about 10 foreign offices, where budget limit controls and cash flow management functions were introduced. SAP BPC and SAP BO FC-based tools for collecting and consolidating reports were deployed for all of the Group's companies. Despite the large project scope, it took just seven months to launch the system.
As an SAP Partner since 1998, IBS Group boasts one of the largest SAP ERP practices in the Russian market. IBS IT Services, a member of IBS Group, has implemented more than 150 SAP projects and has extensive credentials in implementing these solutions for global companies.
About IBS Group Holding Limited
IBS Group is a leading software development and IT services provider in Central and Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development and IT services outsourcing, IT infrastructure and business applications implementation. IBS Group has business operations in Russia, Ukraine, Romania, Poland, Germany, Switzerland, the UK, the USA, Vietnam and Singapore. IBS Group employs more than 8,300 people worldwide. In the year ended March 31, 2012, the Group reported US GAAP consolidated revenues of USD816.3 million. IBS Group's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.F)
About Mail.Ru Group
Mail.Ru Group (established in 1998) is a leading Internet company in the Russian-speaking Internet markets (Russia is Europe's largest Internet market measured by number of users. Source: comScore, September 2011). Mail.Ru Group's sites reach approximately 84% of Russian Internet users on a monthly basis (comScore, December 2011) and the Company is in the TOP 5 largest Internet businesses, based on the number of total pages viewed (ComScore, December 2011).
In line with the Communitainment (Communications + Entertainment) strategy the Company is moving rapidly to build an integrated communication and entertainment platform.. The Company operates two of the three largest Russian language online social networking sites (Odnoklassniki and Moi Mir (or "My World")) (TNS, December 2011). The Company also operates the two largest Instant Messaging networks in Russia (Mail.Ru Agent and ICQ), Russia's leading email service and Russia's largest Internet portal Mail.ru (by daily and monthly visitors, TNS, December 2011), and the Company operates Russia's largest online games platform.
The Company holds equity stakes in VKontakte (39.99%) and Qiwi (21.35%). The Company also holds small minority stakes in Facebook, Zynga, and Groupon as well as a number of large Russian and Ukrainian Internet companies.
As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device - SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 195,000 customers (includes customers from the acquisition of SuccessFactors) to operate profitably, adapt continuously, and grow sustainably. For more information, visit http://www.sap.com
The information contained in this press release is not for publication, distribution or release, directly or indirectly, in any jurisdiction where such publication, disclosure or release would be unlawful. This press release does not constitute an offer for the sale of securities in the United States of America, Canada, Australia, Japan or any other jurisdiction in which an offer would be subject to legal restrictions.
SOURCE IBS Group Holding Ltd
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 28, 2017 02:30 AM EDT Reads: 2,010
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 28, 2017 02:15 AM EDT Reads: 3,085
The modern software development landscape consists of best practices and tools that allow teams to deliver software in a near-continuous manner. By adopting a culture of automation, measurement and sharing, the time to ship code has been greatly reduced, allowing for shorter release cycles and quicker feedback from customers and users. Still, with all of these tools and methods, how can teams stay on top of what is taking place across their infrastructure and codebase? Hopping between services a...
Mar. 28, 2017 02:15 AM EDT Reads: 9,899
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Mar. 28, 2017 02:15 AM EDT Reads: 3,095
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 28, 2017 02:00 AM EDT Reads: 3,888
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 28, 2017 01:00 AM EDT Reads: 2,336
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 28, 2017 12:45 AM EDT Reads: 975
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
Mar. 28, 2017 12:00 AM EDT Reads: 1,243
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, discussed how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a practic...
Mar. 28, 2017 12:00 AM EDT Reads: 8,370
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
Mar. 27, 2017 11:30 PM EDT Reads: 3,061
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 27, 2017 09:45 PM EDT Reads: 3,652
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with budd...
Mar. 27, 2017 09:45 PM EDT Reads: 3,055
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
Mar. 27, 2017 08:15 PM EDT Reads: 6,327
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 27, 2017 07:45 PM EDT Reads: 2,209
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Mar. 27, 2017 07:30 PM EDT Reads: 4,601