Tashkent, Uzbekistan (UzDaily.com) -- Uzpromstroybank’s project "Development and implementation of a budgeting system" in the "SAP Quality Awards" competition, held among the CIS countries, was recognized as the winner in the "Digital Evolution" nomination.

In the system of Uzpromstroybank, together with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development, a large-scale transformation is being carried out. The project "Development and implementation of a budgeting system" being implemented in the Bank based on the SAP Business Planning and Consolidation program (Germany) is also an integral part of these processes.

It should be noted that the SAP Quality Awards, demonstrating leadership in the implementation of SAP projects, are awarded to companies that achieve significant results in business transformation.

According to the jury of the competition, the project of Uzpromstroybank "Development and implementation of a budgeting system" meets all the necessary requirements. This program has become one of the largest transformation projects implemented in the CIS countries.

Currently, the Bank, based on the SAP Business Planning and Consolidation program, has implemented a unified systematized software for budgeting, identifying the efficiency and profitability of banking products, as well as tracking business in divisions and branches of the bank.

At the same time, modern methods of interrelation between the budget and the development strategy of the Bank were used. A mechanism for automatic calculation of the Bank’s performance indicators has been established - return on assets (ROA) and equity (ROE), SPREAD, interest margin, CIR, LDR, etc. In general, so far, work has been successfully carried out on 9 stages of this project, consisting of 15 stages.

Uzpromstroybank, within the framework of transformation processes, is based on SAP technology, plans to continue developing the budgeting and financial analysis system. The Bank is working in the SAP program to create a methodology for the formation of a transfer valuation and programming of cost allocation.