Implementation of a Financial Management Information System in EPCG

Montenegro Power Utility (EPCG) decided to implement integrated Financial Management Information System (FMIS) in order to consolidate fragmented business processes and gain control over its finances. New system needed to support company’s transition from vertically integrated system to unbundled energy companies.
Corporate Solutions was selected to assist the company in this process and design, specify and procure the new FMIS. New FMIS is designed in a way it accommodates organisational changes of the EPCG and functional unbundling of the company. This was achieved by optimising number of organisational units that uses the system and introduction of the modern Wide Area Network across the country as a key backbone for the new system.
Introduction of the new system required modernisation of the existing Local Area Networks in the company. Both WAN and LAN projects were conducted by the EPCG staff with Corporate Solutions providing project management assistance and coordinating activities with the FMIS implementation. New FMIS in EPCG is based on the modern and flexible Oracle E-Business suite working on a robust Oracle Database.
Modules implemented include: General Ledger, Accounts Receivable, Accounts Payable, Cash Management, Fixed Assets, Inventory Management, Project management and Procurement. EPCG selected reliable and experienced system integrator who was responsible for the supply and implementation of the system. Corporate Solutions provided day-to-day management of the Implementation teams and coordination of implementation activities. Regular meetings between the EPCG teams and System supplier teams were held ensuring that project is on track and issues resolved.
Results of these efforts are full implementation of the system across the company, more than 150 users of the system were trained in the usage of the system. EPCG IT personnel acquired new skills in system administration and configuration enabling them to provide first hand support to the users. Overall value of the procured system is Euro 2.5m.

• Assessment of EPCG finance and accounting practices and information systems infrastructure providing recommendations for changes in the finance function, accounting practices and business work-flows
• Conceptual design for the new FMIS and development of detailed technical specifications for the system
• Preparation of the tender documentation in line with the World Bank procedures and management of the procurement process
• Selection of the supplier for the system and assistance with contract negotiation
• Day to day project management of the implementation teams, both client and the suppliers
• Assisting teams and facilitating conflict resolution in the areas of the software customisation and configuration, management of the selected supplier, system Operational Acceptance Testing, assistance with the system roll-out, approval and monitoring of the training process and final approval of the system.

Client: Power Company of Montenegro.