About the company
Axenix specializes in large-scale industry-specific digital business transformation projects. The company has 30 years of experience in the successful implementation of end-to-end projects: from creating business and IT strategies to their full-scale implementation, including the development of technological solutions, software, applications and outsourcing.
«On March 3, 2022 Accenture, a large international company, decided to separate us and announced its departure from Russia as of April 1. Nevertheless, the professional team remained in our country. As a result, we found ourselves without all the technological means — and even elementary without mail and a website on the Internet. And many companies in Russia faced similar difficulties.
We understood that any in-house development today requires a lot of time and investment. So we began to look at what ready-made solutions were already on the market, naturally local and without global clouds. In the end, we chose a solution that suited us: the Timetta cloud system.Yuri IlyinManaging Director Axenix
Why did the implementation need to happen?
The Axenix team set out to find a replacement for the usual SAP and Salesforce-based financial planning tools. The company's IT systems were part of Accenture's global infrastructure, so the Russian office did not even have a description of the functions required. A solution was required that would allow migration of financial and client data in the shortest possible time. One of the key requests was to maintain continuity of work on existing projects.
When migrating to the new system, it was important to:
- Maintain continuity of financial data on projects despite disconnection from global infrastructure.
- to use the usual approach to management accounting.
- migrating historical data into the new system without transforming the data model.
What were the alternatives?
- Maintaining projects in Excel.
- In-house development.
- Russian BPM-systems.
Why choose Timetta
Axenix formulated clear requirements for the accounting system in accordance with the accepted business processes. Many of the management systems available on the Russian software market did not meet those requirements. Timetta was chosen due to its proximity to the common accounting practices used in the parent company.
Two factors influenced the decision:
- Maximum proximity of accounting principles. Particularly in terms of time reporting and cost accounting.
- Rather close, but slightly different accounting for projects.
During implementation, two options of delivery were considered:
- Cloud version.
The choice was made in favor of the cloud version for two reasons:
- The cost of maintaining the on-premises version of Timetta was unreasonably high relative to the cloud version.
- A great deal of customization of Timetta to meet Axenix requirements is already included in the service development plan.
Phase 1 March-April 2022 — Axenix specialists imported historical data from the parent company's IT systems with 500 xls files into Timetta. The migration affected data on people, projects, customers and a historical slice of financial data. Time frame: 3 weeks. Starting April 1, all Axenix employees lead the timesheets in Timetta.
Stage 2. May-August 2022 — Develop financial forecasting functions in a strategic partnership with Timetta based on Axenix's years of experience.
Stage 3. August — December 2022 — scaling the forecaster function to project budget officers.
Stage 4. January — April 2023 — completion of implementation and joint development of the system.
The system is used by more than 2 000 people. All company employees regularly fill in timesheets, this allows to collect actual indicators on projects. Project managers conduct initial project cost estimation and monitor the budget during implementation. Financial managers monitor the timely execution of financial transactions. Executive managers receive regular reports on the activities of structural units and the company as a whole.
Timetta covers key processes in the company:
- Employee timekeeping.
- Controlling expenses for business trips and other project expenses.
- Pricing and budgeting of projects.
- Keeping track of project finances.
- Keeping full lifecycle of projects.
- Accounting for business development costs.
- Preparing reports on cash flow.
- Generating reports on project revenues and costs.
We are glad that the cooperation with Axenix, Accenture's successor in Russia, has enriched Timetta's methodology with the best international IT consulting practices. After all, our colleagues have gained over 40 years of experience in a large and efficient consulting firm. And we appreciate them sharing this amazing experience with us.»
Director of Consulting
Some important business functions remained outside the system, but Axenix was able to migrate fully from SAP to Timetta on key business processes. And as of today, those processes are running at the required level. In addition, the Timetta team was ready to comprehend international best practices in management accounting and implement them in their service.
«Timetta allows us to run our project activities to the full. Axenix will further enrich the product with its international experience and expertise gained from thousands of projects in dozens of countries.»
Director of the Technology Department
Stanislav Nagorsky — LinkedIn