Extended Collaboration between Raiffeisen Bank and SIVECO Romania | SIVECO Romania

Extended Collaboration between Raiffeisen Bank and SIVECO Romania

Monday, October 6, 2003

Bucharest, 6th October 2003 - The collaboration between SIVECO Romania and Raiffeisen Bank focused on the implementation of Fixed Assets and Inventory Management module within SIVECO Applications integrated information package, as well as on the development of additional modules able to interface with other applications used by the bank.

Fixed assets centralization in such a large bank as Raiffeisen (with over 200 subsidiaries in the territory) supposes a very complex approach - the centralization work involved great efforts, both theoretically and practically. 

"The IT system is extremely important at RAIFFEISEN BANK, so we have, from this point of view, very high expectations", declares Călin Rangu, IT&C Director at Raiffeisen Bank. "The bank is now involved in a general transformation process, at all levels, so we also have a large number of IT projects, which usually exceed the interest area of only one department". 

The successful implementation of Fixed Assets and Inventory Management in the established parameters, led to an extended collaboration between Raiffeisen Bank and SIVECO Romania.

"Our bank decided to work with important partners and SIVECO Romania proved to be one of them. The company has a very good reputation on the market - which it deserves completely - its organizational culture and mentality being based on            high-quality products and services. And Raiffeisen Bank wants to be a quality-based bank, to provide perfect services to its clients. In order to provide high-quality services, you have to work with high-quality partners and SIVECO is such a partner", Rangu declares. 

About SIVECO Applications

The package integration is given by the unitary development conception, by the client/server architecture, n-tier, by the Oracle development environment and database. The same graphic interface is displayed to the user, all components using the same Windows based standard. Data security is treated in a unitary way and  the user’s access rights are defined in detail.

Components development in the integrated package was achieved based on the users’ requirements.

SIVECO Romania produces yearly at least a new version of all the components of the Integrated Package, being compatible with the previous versions. The release of new versions is imposed by the users’ needs by modifications in legislation and by changes in the information technology environment. 

The Integrated Information System perfectly covers each company management problems from different fields of activity, avoiding redundant solutions.

About Fixed Assets and Inventory Management Module

This module achieves the evidence of capital divided in tangible and non-tangible assets and depreciation calculus. Fixed assets can be managed with this application, during their whole utilization period, starting the procurement and functioning period until the end of the functioning period - thus the user can find out any moment the fixed assets status or the operations that have affected the fixed assets over a certain time period.

The following processes are controlled by this module: 

  • Fixed assets and inventory objects classification;
  • Evidence, modernization, modification and end of the functioning period of fixed assets and inventory items;
  • Depreciation calculus and corresponding accounting notes generation.

Siveco Applications modules are used by over 1 500 clients in the world - among them more than 150 are located in Romania. Among the Romanian clients there can be mentioned important companies such as RAAVJ, AEROSTAR, Constanta Sea Harbour Administration, SNP Petrom and its subsidiaries, TERMOELECTRICA subsidiaries, Romanian Customs, the Ministry of Communications and Information Technology etc.