New Shared Financial Services Center in the making

New Shared Financial Services Center in the making OKD's new system of administration of finances will operate more rapidly and effectively

OSTRAVA – Financial services at OKD must act more promptly and must be more reliable and effective – this is the chief objective of the new Shared Financial Services Center that will take care of the financial and accounting operations in respect of all mines and other facilities of OKD Corporation. „Now the Deputy Directors for Finance will be less concerned with the administration of operations and will have more time left to attend to the business proper,“ – this is how Miloslava Trgiňová, Director of Finance and Personnel and Vice-Chairwoman of the Board of OKD explained one of the major benefits of the measure.


The former system was not flexible enough. There were 12 different Finance Sections at the BUs, and yet another at Headquarters. Even though it did work properly, it happened sometimes that the left hand did not know what the right hand was doing.


Within the framework of the new system, so-called competency centers will be established that will provide financial services centrally to all the BUs. Some of them will be located at OKD Headquarters, other such centers will be situated at Darkov.Mine. One competence center will handle invoicing, other centers will take care of investment assets, payments, and taxation.


The final outcome should be not merely to render the financial processes more synoptic and to speed them up but also to identify those activities that the different competency centers should contribute to OKD's over-all business. „We won't improve effectiveness by creating new centers. They have to be integrated within the system, in an expedient fashion, so that they can contribute new information thanks to which we subsequently can upgrade the financial management throughout the company,“ Trgiňová added.


The process whereby the financial administration services will be transferred, in stepwise fashion, from mines and from the other BUs to the new center is to continue until the end of the year.



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