NLMK Group, an international steelmaking company with operations in Russia, the USA and EU member states, has topped the ‘Reliable Business Partner’ nomination in the first annual SAP Value Award. NLMK was commended for implementing the financial planning and accounting platform that has boosted the quality and efficiency of decision-making across NLMK Group companies.

The SAP Value Award was set up by SAP for its Russian and CIS clients. It is awarded to IT projects which create an impact.

10 companies were awarded in a variety of categories. The Jury was made up of representatives of SAP CIS, the Ministry of Industry and Trade of the Russian Federation, businessmen, analysts and journalists.

NLMK Group was awarded for implementing a SAP-based integrated financial planning and accounting platform. A unified information environment was set up for budgeting, management reporting (plan/actual), and IFRS consolidated financial reporting. As a result of the project, annual budget development time was cut almost in half; consolidated reporting time was reduced by 10 days; and the number of staff involved in these processes was optimized.

Grigory Fedorishin, NLMK Group CFO, said:

“Our unified information environment has enabled more accurate and on-the-fly business planning and analysis. This project also opens up multiple opportunities for further boosting the quality of management decisions.”