(Source: D.Mukhtarov Trend News Agency, Baku, Azerbaijan (MCT) — Leading high-tech producer of gold in Kazakhstan JSC Altyntau Resources has introduced a set of solutions using IBM Cognos Express to create a system for collecting budgets and calculating production costs, the company said on Monday.
‘As a result of a long term project, Altyntau Resources intends to move to a unified system of planning, to ensure the receipt of the consolidated forecast of financial statements under IFRS on the group of companies in several sections, as well as to increase the profitability of the company and control over the production costs’, a statement said.
The project will last for several years and will be implemented in several stages. The introduction of multi-level planning be achieved at the first phase which is expected to be complete by the end of 2012.
JSC Altyntau Resources will receive the tools to automatically calculate the balance of metals, the planning movement of unfinished products and finished goods, the cost of the planned unit and production volume of finished goods and work in progress. Calculation of depreciation, rent and taxes and the calculation of a capital investment budget will also be automated.
JSC Altyntau Resources is a leading high-tech gold producer in Kazakhstan. The company provides production of gold from mining gold ore to the production of refined gold.
IBM is one of the world’s leading manufacturers and suppliers of hardware and software and IT services and consulting services during more than 100 years.
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