Baku hosts IT solutions forum
By Nigar Orujova
Baku has hosted a forum on IT solutions for financial reporting, budgeting and risk analysis, organized by Azerbaijani Cybernet and German LucaNet companies.
General Director of Cybernet Ilham Namazov said that the company is part of one of the most successful investment holdings of Azerbaijan - Synergy Group company.
In his speech, Namazov stressed the importance of the forum's topics and the large capacity of IT market in Azerbaijan, as well as high demand for advanced IT products in the country.
Other speeches were also delivered by Deputy CEO of Cybernet Anar Mehdiyev, experts of LucaNet, Financial Manager of Synergy Group Rufat Jahangirov, Director of Risk Management at AtaBank Elman Sadigov, expert in the field of risk analysis and reporting Ilgar Sarijanli.
German experts also made presentation on the consolidated financial statements in diversified holdings. Speakers shared their experiences and plans for the integration of software products LucaNet in European markets. They also spoke about the benefits of implementing LucaNet products in the local market.
Anar Mehdiyev noted that the main objective of cooperation with LucaNet is to present innovations and share experiences of German companies with local markets. LucaNet's solutions are currently used by more than 1,500 companies in over 50 countries around the world. Often companies' solution 'for a significant problem gets complex from a financial point of view. LucaNet solutions are the very tools that allow solving similar problems quickly and for low cost.
The importance of evaluation and risk management in the banking system of Azerbaijan, and operating systems of companies to assess the credit policy of the companies were also discussed during the forum.
The subject of the calculation of credit risk was also touched upon, in particular. The participants also talked about the software of Cybernet in this area.
Experts noted the efficiency of this program and its relevance to the markets, as the program provides analytical system for strategic and critical decisions in the management of the banks' activities. The reporting system covers all possible groups of risks: credit, market, liquidity, operational and insurance.
Cybernet offers services and solutions for IT in Azerbaijan and Central Asian countries. The company has extensive experience in the creation of e-services and application solutions for e-Government.
LucaNet is a leading developer of software, workshops' organize and provider of consulting services in Business Intelligence. The company offers software solutions in fields like planning, financial consolidation and financial analysis, distinguished in novelty, efficiency and transparency.