Earlier this year, ULTRA Technologies initiated cooperation with Baku Metro to automate financial and accounting on 1C 8.3 at Baku Metro Closed Joint-Stock Company. The Company will use the 1C 8.3 accounting program in the Metro to keep records of fixed assets and intangible assets, inventories, and low-cost assets, prepare statistical and other reports, and conduct payroll and salary payments and financial information systematization.
Moreover, the system provides such functional possibilities as preparation of estimates of construction works, cash management and tracking, the grouping of expenses, preparation of reports on the balance of the estimate, the balance of the accepted objects, etc. This system will allow controlling the performance of the head office and 26 groups subordinated to the Metro from a single center.
The Company's analysts said that by introducing the system, Baku Metro Closed Joint-Stock Company will have the advantage of organizing and optimizing the effectiveness of financial and accounting policies, the transition to international IFRS reporting, and other benefits.
For example, 1C 8.3 Platform based on the long-term experience of ULTRA has been already applied at the Ministry of Economy and Industry of the Republic of Azerbaijan, the Ministry of Justice of the Republic of Azerbaijan, the Forensic Science Centre of the Ministry of Justice of the Republic of Azerbaijan, the Ministry of Communications and High Technologies of the Republic of Azerbaijan, ASAN Service, State Insurance Company of the Azerbaijan Republic, Central Bank of the Republic of Azerbaijan.