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A forum on a subject "IT solutions for financial statements, budgeting and risk analysis" passed in Baku

The Cybernet company and the German company "LucaNet" organized a forum on a subject "IT solutions for financial statements, budgeting and risk analysis" in Four Seasons hotel on September 17. 
The CEO of "Cybernet" Ilham Namazov marked that the company is included into one of the most successful investment holdings of Azerbaijan the Synergy Group Company. Appearing a welcoming speech I.Namazov noted importance of theme of a forum and high potential of the market of information technologies of Azerbaijan, and also high need for the advanced IT products in the country.
In the forum appeared with presentations the deputy general director of Cybernet Anar Mekhdiyev, experts of the LucaNet Company Matthäus Ebinal and Nazar Farmaga, the financial manager of Synergy Group Rufat Dzhakhangirov, the director of the risk management department of AtaBank Elman Sadygov, the expert in the risk analysis and reporting sphere Ilgar Sarydzhanly.
Representatives of the German company provided interesting presentation according to the consolidated financial statements in diversified holdings. Speakers shared experience and plans for integration of software products of LucaNet in the European markets. They told about advantages of implementation of LucaNet products in the local market.
As the deputy CEO of the Cybernet Company Anar Mekhtiyev reported, the main objective of cooperation with LucaNet consists in that innovative solutions and experience of the German companies were provided in our market. Now solutions of LucaNet use more than 1,5 thousand companies in over 50 countries of the world. Often the companies for the solution of not so considerable tasks acquire complex solutions that from the financial point of view isn't justified. Solutions of LucaNet are those tools, which allow in case of small expenses and quickly to solve similar problems.
Speakers also noted the importance of subjects and evaluation of risk management in the banking system of Azerbaijan and operating systems companies to assess the credit policy of the companies.
The speakers touched upon the subject in the calculation of credit risk, in particular, talked about the software company Cybernet in this area. Experts noted the practicality of this program and the relevance to the market, 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 Company started its activity in 2004 and since 2011 is included into Synergy Group. The company offers in Azerbaijan and Central Asian countries, services and solutions for IT. The company has extensive experience in the creation of e-services and application solutions for eGovernment. 
LucaNet company started its activity in 1999 in Germany and is a leading developer of software, organized seminars and provider of consulting services in the field of Business Intelligense. The company offers software solutions in the field of planning, financial consolidation and financial analysis, which differ in innovation, efficiency and transparency.