Our clients are international and Russian companies seeking to develop their business in Russia. They are experts and professionals in their fields and we are delighted to support them with their ambitious projects and business plans. Knowing that each of our client is unique, we personalize our service adapting to specific industries, company size, project specifics and corporate culture.
(Select Service Partner)
Beginning of cooperation: 2011
Services rendered: financial audit, preparation of management reports, accounting outsourcing
Our project began in 2011, when the foreign management of the restaurant chain suspected the Russian office of misrepresenting reporting.
Prior to that, the company had been working in Russia for about 10 years. The company occupied a certain niche, but during this time the company’s indicators did not grow, and operating profit fell, despite the fact that all conditions for business growth were present.
We were engaged as independent auditors to establish the reasons behind the negative results of the company. After the audit, we uncovered facts confirming distortion (manipulation of data) in the financial statements of the company provided to the foreign office of the company. After the audit, the management team was completely replaced, and it was also decided to outsource accounting functions to Awara.
Together with the new management of the company, detailed internal control procedures were built to ensure control over the safety of the company’s assets and transparency of cash transactions. The Awara accounting department works in close cooperation with the internal auditors of the central office, ensuring the monthly provision of up-to-date accounting information. The structure of the company’s expenses was optimized, unprofitable business areas were analyzed and closed, and unused reserves of the company were identified (for example, more than 10 million rubles were returned from the budget).
Subsequently, Awara participated in a project to transfer the company’s accounting from the 1C-Accounting system to the Navision system, which was used in all offices of the company as a unified accounting system, which gave even more transparency and efficiency in providing financial data.
The entire project to “revive” the company took a little more than six months, and the next year the company began to show the first positive results of its work in its updated form.
Beginning of cooperation: 2006
In 2006, we were approached by a large chain of Scandinavian hotels. They planned to open several hotels in St. Petersburg under their own brand, including one for tourists and business trips, and another a five-star SPA hotel.
At the beginning, we were asked to prepare an overview of the requirements for the operation of hotels in Russia, taxation, accounting and reporting, licensing of certain areas, labor legislation, fire safety rules, labor protection and other aspects that may be related to this business in one way or another. We also prepared an overview of salaries in this region in the hotel business. In addition, we discussed in advance the implementation of an ERP system (Navision), which would have to be integrated with local 1C and other programs for the operation of hotels, restaurants and shops.
After the final decision was made, we immediately started implementing the project. We created a company in Russia and took over temporary management to prepare the hotel for full-fledged activity. We opened accounts in several banks, organized the payment of the authorized capital, and prepared documents for the initial financing of activities. Then we coordinated repair work, received the approval of the inspection authorities and processed all the necessary licenses and permits.
After that, we began to actively recruit key employees, and obtained work permits for foreign workers. We processed the import of the necessary equipment, furniture and other foreign goods.
We developed all the necessary legal documents for the operation of hotels, set up all reporting systems and the procedure for interaction with the head office, and hired and trained the accounting and finance department.
Now these three hotels have changed owners, but they are still successfully operating in St. Petersburg and are well known to guests of the city.
RSC (Russian Snack Company) / Chips AB / Orkla
Beginning of cooperation: 2008
We were contacted by foreign owners of a chip manufacturing company in Russia about its closure due to a decision made within the corporation. At that time, the company had its own equipment, several recognizable brands and a team of fifty employees.
We were instructed to take over the management and maintain the accounting and financial statements of the company until its complete closure. In parallel, it was necessary to gradually terminate existing contracts with customers and suppliers and reduce staff. As a result, after layoffs, we managed to get some employees to work for our clients, as well as hire suitable specialists to our staff.
We went to the head office several times, attended meetings of the board of directors and compiled reports on the current state of affairs.
At the final stage, we exported the foreign equipment out of the country and reimbursed the corresponding customs VAT. We also managed to contact potential buyers of one of the most recognizable brands (Moscow Potato) and close the deal on the transfer of rights to this trademark.
In addition, the former director of the company moved to another company (the world leader in the production of food packaging) and, in view of our successful cooperation in the past, recommended us as a provider of legal and accounting services, as well as recruitment.
Focus Wood / Karelia Upofloor /
Gustaf Kahr AB
Beginning of cooperation: 2007
This company from Finland, a major manufacturer of parquet and other flooring, decided to expand its presence in Russia and purchase a parquet factory in the Kaluga region.
We were chosen as consultants to provide support for this transaction from start to finish. We conducted an audit of the company’s financial statements and corporate documentation, then visited the production site, inspected the premises and equipment, and made an inventory of stock.
In parallel, we, as representatives of the buyer, discussed the commercial terms, as well as the procedure for transferring business affairs. After agreeing on all the conditions, the purchase and sale of the enterprise was executed. We assumed temporary management, with the subsequent registration of migration documents for the director and other foreign specialists. New personnel were also selected, and production facilities were updated, and new ones built. In addition, we were responsible for accounting and personnel support, and preparation of management reports for the owners.
As a result, the company has significantly increased its presence in Russia, and its products have become widely recognized and are remain in stable demand.
Upon request, we will send you a more detailed list of our projects and letters of recommendation. To contact us please click here.