“Consyst Business Group” has completed the global optimization of budget planning and consolidation of management reports in one of the largest vertically integrated energy companies in South-Eastern Europe – NIS Group of Companies (Oil industry of Serbia).

The Russian consulting group implemented a corporate system based on Oracle Hyperion Planning at NIS in 2013. Since then, the partners have been jointly supporting and developing it. The project allowed the client to reduce the closing time of the reporting period in the system to 1.5 hours.

Since its introduction, the model of the NIS Group of Companies has significantly expanded. The group’s management decided to invite the “Consyst Business Group” team to refactor and optimize the current model in order to increase the speed of budgeting and management accounting processes in the system.

The “Consyst Business Group” team set goals: to reduce the time to recalculate the model to close the reporting period to 1.5 hours, to reduce the size of the database (it was possible to reduce it by 20 times) and to increase the availability of the system for users by reducing the duration of night maintenance procedures.

It should be noted that optimization was possible after migrating to the new version of Oracle Hyperion Planning in 2018. Since the business logic of the calculations did not change, in order to refactor the system, it was necessary to revise technical solutions using the functionality that appeared in the new version.

Active users of the planning and reporting system are 350 specialists from the economic units of NIS in Serbia. As a result of the project, the customer’s employees had much more time to reconcile management reporting with IFRS, analyze, make management decisions and scenario modeling.

An additional result of the refactoring was the possibility of the subsequent development of the system at a higher rate by reducing the time required for testing and routine procedures. The management of the NIS Group of Companies considers this opportunity relevant in a rapidly changing economic environment.

Daniil Bazdyrev, Head of the Department of Economics and Corporate Planning, Deputy Financial Director of the NIS Group: “We work with “Consyst Business Group” as part of the support and development of the corporate system and we promptly implement the necessary changes with the project team. As a result of the refactoring of the Oracle Hyperion Planning model, we were able to optimize the system’s operation and accelerate the budgeting workflows and the formation of the management result of the NIS group, which allows us to significantly save labor costs for generating performance forecasts and reporting.”

Mihail Perkov, Deputy General Director of “Consyst Business Group”: “The project in the NIS Group is important in the development of the experience of international projects “Consyst Business Group”. We are grateful to our colleagues for their trust and will make every effort to obtain additional benefits for the client through the further development of the system.”


About NIS Group

            The NIS Group of Companies is one of the largest vertically integrated energy systems in South-Eastern Europe. NIS is currently one of the most successful companies in Serbia, as well as the largest source of state budget revenues. The main activity of the company is – the exploration, production and processing of oil and natural gas, the sale of a wide range of refined products, as well as the implementation of projects in the field of petrochemistry and energy. The headquarters and main production facilities of the company are located in the Republic of Serbia. These are oil and gas fields, the “Pancevo” oil refinery, oil depots and a network of petrol stations. The majority shareholder of NIS with a 56.15% stake is the Russian company, “Gazprom Neft”. The second largest block of shares, amounting to 29.87%, is owned by the Republic of Serbia. The rest of the shares are held by individuals, current and former employees of the company and other minority shareholders. The company’s shares are listed on the Belgrade Stock Exchange.

About “Consyst Business Group”

            “Consyst Business Group” is a Russian consulting group, one of the leaders in the IT consulting, business consulting and custom development market. It was created on the basis of the assets of LANIT Group of Companies and “Systematika” Group of Companies. According to RAEX data for 2019, the group is among the top 10 largest consulting groups and companies in Russia and is ranked 4th in IT consulting (management consulting). The group’s offices are located in 11 cities, including Moscow, St. Petersburg, Belgorod and Budapest, with over 700 employees.


Contact information:

Press service of “Consyst Business Group”:

Shustval Ludmila

+7 904 335 6711