DESIGN AND IMPLEMENTATION OF AN AUTOMATED BUDGETING SYSTEM AT A MINING ENTERPRISE: THE CASE OF RG GOLD LLP

This article is aimed to investigate the process of designing and implementing an automated budgeting system at a mining enterprise in order to provide an overview of methods, tools and stages of implementation, as well as an analysis of the advantages and practical examples of using this system.

The purpose of the research is to identify the features of the budget process and develop recommendations for the successful implementation of an automated budgeting system to improve fi nancial management and increase the effi ciency of a mining enterprise.

Methodology. The following scientifi c methods were used in the study: comparative analysis; synthesis; methods of systematization and generalization, in-depth interview, SWOT analysis.

Originality / value of the research. The value of this study consists in identifying the key problems of budgeting of industrial enterprises of the Republic of Kazakhstan, developing a methodology for designing and implementing an automated budgeting system for the gold mining company RG Gold LLP. The introduction of an automated budgeting system at the enterprise has made it possible to reduce the time spent on consolidating data when forming budget applications, reduce the risk of the human factor, increase the time for forecasting and modeling the budget for making management decisions and increasing competitiveness in the market.

Findings. Based on diagnostics, SWOT analysis of the current budgeting system in the fi nancial management system of RG Gold LLP and an expert survey to identify its limitations, user needs for the automation process were determined.

A model product for automation of the budgeting system with functional testing of the budget campaign of RG Gold»LLP for 2024 has been designed.

The automated budgeting system of Anaplan RG Gold LLP has been confi gured and training programs for its users have been developed.

The potential impact of the Anaplan budgeting automation system on accelerating the process of making strategic fi nancial and managerial decisions and increasing labor productivity by saving time, labor and fi nancial resources in RG Gold LLP were estimated.

1. The World Bank. (2023). Diagnostika gornorudnogo sektora – Kazahstan. 122 p. (In Russian).

2. Ob utverzhdenii Programmy po razvitiyu gorno-metallurgicheskoj otrasli v Respublike Kazahstan na 2010-2014 gody. (2010). Adilet. Retrieved August 11, 2023, from https://adilet.zan.kz/rus/docs/P1000001144 (In Russian).

3. Rozhkova, N. K. and Kovtun, M. A. (2015). Analiz sushchestvuyushchih podhodov k byudzhetirovaniyu. Vestnik universiteta, 13, 146-152 (In Russian).

4. Gasanov, G. I. (2016). Byudzhetirovanie kak instrument fi nansovogo planirovaniya na predpriyatii. Molodoj uchenyj, 11, 1828-1833 (In Russian).

5. Abdusalomova, N. B. (2017). Byudzhetirovanie kak sostavnaya chast' sistemy upravlencheskogo ucheta zatrat. Materialy VIII Mezhdunarodnoj nauchno-prakticheskoj konferencii «Buhgalterskij uchet, analiz i audit: sovremennoe sostoyanie i perspektivy razvitiya», 61-65 (In Russian).

6. Hansen, S. C., Otley, D. T. and Van der Stede, W. A. (2003). Practice developments in budgeting: an overview and research perspective. Journal of management accounting research, 15(1), 95-116.

7. Simons, R. (1987). Accounting control systems and business strategy: an empirical analysis. Accounting, organizations and society, 12(4), 357-374.

8. Govindarajan, V. (1984). Appropriateness of accounting data in performance evaluation: an empirical examination of environmental uncertainty as an intervening variable. Accounting, organizations and society, 9(2), 125-135.

9. Malmi, T., Seppala, T. and Rantanen, M. (2001). The practice of management accounting in Finland-a change? Liiketaloudellinen aikakauskirja, 480-501.

10. Hansen S. C. A theoretical analysis of the impact of adopting rolling budgets, activity-based budgeting and beyond budgeting. European Accounting Review, 20(2), 289-319.

11. Rozhkova, N. K., Kovtun, M. A. (2015). Analiz sushchestvuyushchih podhodov k byudzhetirovaniyu. Vestnik universiteta, 13, 146-152 (In Russian).

12. Hegazy, M. I. et al. (2023). How to Achieve Operational Excellence through Digital Transformation. SPE Gas & Oil Technology Showcase and Conference. Paper number: SPE-214140-MS.

13. Nikulina, S. N., Butyugina, A. A. and Gorbunova, E. E. (2019). Investment activity in conditions of automation use of budgeting system. IOP Conference Series: Earth and Environmental Science, 341(1), 012217.

14. Willcocks, L., Lacity, M. and Craig, A. (2017). Robotic process automation: strategic transformation lever for global business services? Journal of Information Technology Teaching Cases, 7(1), 17-28.

15. Zavrazhnyi, K. (2020). Automation of budgeting of industrial enterprises as the basis for digitalization of internal communication business processes. VUZF Review, 5(1), 31-37.

16. Sidorova, I. A. (2017). Eff ektivnost' vnedreniya oblachnyh tekhnologij v biznes-processy autsorsingovoj kompanii. European science, 6(28), 35-39 (In Russian).

17. Amjed, H. M. et al. (2023). Improving the Effi ciency of Budgeting in Industrial Enterprise: The case of Russia, Italy, and the Middle East. Emerging Science Journal, 7(1), 177-189.

18. Fotr, J. et. al. (2015). Scenarios, their concept, elaboration and application. Baltic Journal of Management, 10(1), 73-97.

19. Kaya, C. T., Türkyılmaz, M. and Birol, B. (2019). Impact of RPA technologies on accounting systems. Muhasebe ve Finansman Dergisi, 82, 235-250.

20. Cooper, L. A. et al. (2019). Robotic process automation in public accounting. Accounting Horizons, 33(4), 15-35.

21. Matthies, B. (2020). Assessing the automation potentials of management reporting processes. The International Journal of Digital Accounting Research, 20(26), 75-101.

22. Lacity, M., Willcocks, L. P. and Craig, A. (2015). Robotic process automation: mature capabilities in the energy sector. 19 p.

23. Hermann, K., Stoi, R. and Wolf, B. (2018). Robotic process automation in fi nance & controlling der MANN+ HUMMEL Gruppe. Controlling, 30(3), 28-34.

24. Kak metallurgicheskij kombinat s pomoshch'yu RPA rasshiril vozmozhnosti zakupok. (2020). Habr. Retrieved September 18, 2023, from https://habr.com/ru/companies/uipath/articles/533346/ (In Russian).

25. Sánchez, F. and Hartlieb, P. (2020). Innovation in the mining industry: Technological trends and a case study of the challenges of disruptive innovation. Mining, Metallurgy & Exploration, 37(5), 1385-1399.

26. Main page. (2020). Anaplan. Retrieved September 19, 2023, from https://www.anaplan.com.