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S&T Euro conversion at the SLOVNAFT Group

In January 2009 SLOVNAFT Group in Slovakia successfully changed to EURO

(PresseBox) (Vienna, ) Positive news in today’s economical environment is that S&T successfully converted to the EURO, the new Slovak national currency, in the SAP systems of the SLOVNAFT Group. Slovnaft is the Slovak subsidiary of MOL NyRt. (the biggest Hungarian oil company).

The Slovnaft Group has entrusted the international team of S&T to carry out the EURO conversion in three different SAP systems at three Slovnaft Group companies. S&T Group successfully accomplished the task: the customer expectations and law driven requirements were fully met, and the project was executed by the planned timing.

The project was also a great example for good co-operation between countries. From MOL Group’s side the countries involved were: Slovakia and Hungary, while from the S&T Group: S&T Unitis Hungary (with seven years of experience in several SAP projects at the MOL Group), S&T Varias (the Slovakian subsidiary of S&T) and S&T Slovenia which had gained many experience in SAP Euro conversion projects in the past, formed the fruitful co-operation.

The task’s key success factor was that the complex and business-critical SAP systems of three Slovnaft Group companies had to be converted to another currency and it was also necessary to ensure that the data in the system components after the conversion remained consistent.

The key milestones of the Euro conversion project were:

1. Dual Display of Prices – The realization of the dual display of prices appearing on official documents in the commercial and consumer circulation: on the invoices and on other customer related printouts.

2. Testing – The key of the project was the thorough testing, which meant the utilization of the methodology prescribed by SAP for the conversion process and the systematic and extensive testing of the corporate processes and integration points between systems.

3. The change of the transactional currency – From 1 January 2009 the transactional currency of the productive systems was changed to the Euro.

4. The change of the book-keeping currency – following the business closing of the year 2008 the company's book currency was converted to the Euro. The accounting data were also converted retroactively to the Euro.

As the result of the project S&T Unitis, the Hungarian subsidiary, has obtained worthwhile experience in the Euro conversion functional knowledge of SAP systems, and we truly hope that there will be need for this knowledge in Hungary soon!

In addition to the experienced advisory and developer team, the S&T Group could make good use of its international abilities, resources and experiences as well. Like on this Euro conversion project it was easy to find trained specialists from the team of S&T Slovenia in this case, who had already executed Euro conversion in more SAP systems in their homeland.

Summing up the case, S&T Group is very proud of the successful Slovnaft Group SAP project. We hope that on the trace of our experiences we will have more Euro conversion projects in Eastern-Europe in the near future.

About S&T - - XETRA Vienna: SNT
With about 3,000 employees and sales of €513.4m in 2008, S&T is the leading provider of IT consulting, IT solutions, and IT services for customers in Central and Eastern Europe and the DACH region (Germany, Austria and Switzerland), and also has branches in Japan and China. The S&T Group comprises around 70 subsidiaries successfully representing the company in 21 countries. The core business of S&T is IT consulting, as well as the development, implementation and operation of custom IT solutions, processes and systems. S&T supports large and medium sized companies along the entire IT value-adding chain. S&T focuses on customers in the manufacturing and retail industries, telecommunications, the public sector, and also financial service providers, utilities and energy suppliers. S&T AG has its corporate headquarters in Vienna and has been listed on the Vienna Stock Exchange since 2003.