IBS Group Member Improves Financial Management of Russian and Overseas Assets for Europe's Largest Internet Company

IBS Group Member Improves Financial Management of Russian and Overseas Assets for Europe's Largest Internet Company PR Newswire RAMSEY, Isle of Man, December 13, 2012 RAMSEY, Isle of Man, December 13, 2012 /PRNewswire/ -- Please refer to relevant legal information at the end of the document IBS Group, a leading software development and IT services provider in Central and Eastern Europe, today announces that IBS IT Services, a member of IBS Group, has completed a joint project with Mail.Ru Group, Europe's largest Internet company, and SAP, a global leader in corporate performance management applications, to enhance financial management at Mail.Ru Group. A unified SAP-based management system will help streamline management processes at Mail.Ru Group and more than 20 of its offices, including those outside Russia, and ensure greater transparency and control of business. The system created by IBS IT Services and Mail.Ru Group embraces all of the company's key financial and economic processes and comprises three solutions: Operational Accounting, Budgeting, and Reporting. The first facilitates operational accounting for business transactions, procurement, and outgoing payments. The transaction component is closely linked to Mail.Ru Group's IT systems, including a sales management system for online games and advertising. The budgeting subsystem allows annual plans to be generated broken down into business units, and implementation monitored based on operational accounting data.