Corporate Solutions managed a project for the EBRD to assist the Belarus Telecom and Energy Ministries with the introduction of modern financial management practices and accounting systems in preparation for their privatisation.
An important objective of the project was to assist the sector ministries with developing an effective framework for management and cost accounting as a basis for setting appropriate tariffs. A key requirement for achieving this objective was to define appropriate cost centres and drivers in order to establish the cost of providing services to different categories of consumers.
Other objectives included the introduction of changes in accounting and reporting procedures necessary to generate International Financial Reporting Standards (IFRS) compliant financial statements and planning the implementation of computerised accounting and billing systems. More...

In 1996, AZANS secured a loan from the EBRD to invest in the development of its infrastructure and modern navigation equipment.
An important condition of the EBRD loan was that AZANS must introduce effective management practices to run the company on a fully commercial basis and implement a modern computerised accounting system.
Corporate Solutions was selected, from a number of consulting companies, to assist AZANS with achieving that objective. The Corporate Solutions team, including an air navigation specialist from Hyder Consulting, helped AZANS in re-engineering its financial management and accounting practices. This included the implementation of the Sun Business System and the development of software for traffic forecasting. More...

Uralelectro is a manufacturer of electric motors and low voltage starters.
Since 1996, Corporate Solutions has worked with the management of Uralelectro to define and implement an extensive restructuring programme. This included discontinuing unprofitable products, reorganisation of profitable activities into three business units, and re-engineering its business processes and management practices. The restructuring measures resulted in a significant increase in productivity, reduction in production costs and achievement of ISO 9002 certification. In 1998, these improvements led to the establishment of a joint venture with a major Italian company.
Corporate Solutions conducted the due diligence and prepared the contract between the two companies. Up until 2000 we continued working with Uralelectro on the implementation of a financial management information system and define a strategy for the business unit responsible for the production of low voltage starters.
As part of this work, we developed a comprehensive investment plan that was presented to a number of potential investors. In 2001, a joint venture was agreed with a French company and Corporate Solutions was retained by Uralelectro to assist it with final negotiations and the provision of financial information to the joint venture partner. More...

Electrosovetmet started as a research institute, specialising in the processing of various metals including copper. In 1994 the company was declared bankrupt and was bought by a group of young Russian and foreign entrepreneurs with equity investment from a British investment fund.
The new owners refocused the company's activities, under the trading name Eurofoil, to produce a new range of products for export to Western Europe. In parallel, the management negotiated a grant from the British Know How Fund to procure British consulting resources to strengthen its commercial management practices and systems. In 1996 Corporate Solutions was selected, from amongst a number of consulting firms, to assist Eurofoil with strengthening its financial management and accounting practices.
Our team, including a specialist in material processing, conducted a thorough analysis of the production methods in the factory and the existing data recording systems. We then assisted the management with defining its management information needs, and designed a process costing system to generate information about the key aspects of the production. This was followed by the design of a new Chart of Accounts, to support financial and management reporting.
One of our Russian accountants also assisted the company with defining and implementing measures for reducing its tax burden. More...

Corporate Solutions was awarded two contracts by the British Know How Fund Technical Assistance Centre to assist two companies in Russia with restructuring and the implementation of effective financial management practices. These included Eurofoil in Ryazan and Polygraphoformlenie in St-Petersburg.
Corporate Solutions conducted a review of Polygraphoformlenie's commercial and production management practices and developed a cost reduction programme. Over a period of six months, our consultants worked with the company's management to design and implement an order based costing and a management reporting system.
Productivity was significantly increased and a transparent management information system was implemented providing reliable information about the cost of orders as a basis for pricing. A standard set of management reports was introduced that provided managers with timely information on the overall performance of the company.
In 1996, Corporate Solutions was selected to assist Eurofoil with strengthening its financial management and accounting practices. Our team, including a specialist in material processing, conducted a thorough analysis of the production methods in the factory and the existing data recording systems. We then assisted the management with defining its management information needs, and designed a process-costing system to generate information about the key aspects of the production. This was followed by the design of a new Chart of Accounts to support financial and management reporting.
One of our Russian accountants also assisted the company with defining and implementing measures for reducing its costs. More...

In association with Lubbock Fine, Corporate Solutions reviewed the Izhlada Bank's (Bank) development strategy and conducted an audit of the banks operation.
This led to comprehensive recommendations for institutional development and the requirements for a management information system to support the implementation of the Bank's strategy. More...

In 1995, Unisys was awarded a USD 100M project by the Russian Savings Bank to implement retail and corporate banking system in the Bank's 75 regional branches.
One of the Corporate Solutions' directors was retained by Unisys to advise the Project Manager with the development of a strategy for the implementation of the project and the recruitment and training of a team of some 50 Russian professional. More...