On 5 February, at the Four Seasons Hotel Baku, EY Azerbaijan organized a seminar on "Innovative Solutions for ERP and Corporate Performance Management Systems" in cooperation with A&B Company, a franchisee of 1C.
Financial Executives from various industries in Azerbaijan attended the seminar.
Nargiz Karimova, Assurance Partner, welcomed the guests with an opening speech. "Given the fact that many of our clients are using 1C applications, we decided to hold this event and invite our partners, A&B Company to introduce two new 1C products". Ms Karimova also talked about how EY helps clients address their challenges throughout all implementation phases. "Our experts understand industry-specific needs can offer leading ERP practices, deep industry expertise and a regulatory and compliance knowledge base," Ms. Karimova said.
Among the invitees were Vladimir Fedotov, TANECO Economics and Finance Director, Elshad Nuriyev, Financial Director of Synergy Group and Naila Khalilova, Chief Accountant of Synergy Group. They shared their experience with implementation of ERP systems and these systems' advantages in business management.
Natalia Shvedova. Deputy Director of A&B Company delivered a presentation on "1C: ERP Management 2.0." The first part of the seminar focused on innovative solutions in building integrated information management systems for companies with a wide range of performance and business activities. Ms. Shvedova also shared her experience with implementing the ERP system in Russia.
"One of the main advantages of the implementation of 1C: ERP Management 2.0 application is that it lets you promptly receive information, which gives you the opportunity to control and manage your business. The economic result is a reduction in inventories, lead times, and operating and administrative expenses. In addition, you get better control of accounts receivable," Ms. Shvedova said.
During the second part of the seminar Elena Khokhryakova, Financial Director of A&B Company, delivered a presentation on implementing an integrated information system through the 1C platform for a holding company operating in Azerbaijan. Ms. Khokhryakova also discussed 1C: Holding Management 8, the monitoring of holding companies' effectiveness, and accounting and planning issues.
The seminar touched on practical solutions for payroll and personnel management in accordance with the legislation of the Azerbaijan Republic.
"A product like 1C can replace similar ERP systems throughout the world. Its ability to save labor during personnel management has been demonstrated. We hope that this product will be presented for government review and see implementation," said Elchin Mammadov, Head of the Taxpayer Service Department of Azerbaijan's Ministry of Taxes.
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EY in Azerbaijan
EY made a major commitment to Azerbaijan and the region with the opening of our office in Baku 20 years ago. Today, in addition to being the leading audit firm in Azerbaijan, we are the leading firm in the region. Because of our experience and depth of knowledge, we have been able to assist both domestic and international companies as well as state-owned entities in developing and in facing the challenges of the international economy.
2014 was the 20th anniversary of EY in Azerbaijan. We currently have more than 170 staff in our Baku practice, who serves our clients in Azerbaijan. EY's strength in the Caspian Region and the firm's commitment of resources are important to the entities operating in the region. It means that as we grow, EY will continue to demonstrate a tradition of hiring and training local professionals to be leaders in our practice.