OJSC "VTB-Leasing" launches a leading-edge project of IT system development for transaction support in rolling stock operating leasing

OJSC "VTB-Leasing" announces the start of a project for development of a specialized information system providing transaction support in operating leasing of rolling stock.

"Homnet Leasing", a leading IT company in automation of leasing operations, was contracted to develop the new system.

During the first half of 2010 OJSC "VTB-Leasing" saw an increase in the number of its own rolling stock from 26,000 to 41,000 rail cars. A special-purpose IT system is required to provide transaction support in the course of leasing these rail cars. The new IT system will efficiently achieve the following objectives:

• Administration and maintenance of leasing contracts;
• Record-keeping for rail cars and their specifications;
• Recording the rail car repairs and providing data for booking these repairs in financial and tax accounting ledgers of the company;
• Calculation of lease payments and automated printout of invoices for payment, acceptance acts and Russian VAT invoices (the system will take into account the grace period of leasing payments).

«We expect this project to provide us with Russia’s best system for transaction support in operating leasing of rolling stock. It will ensure robust IT support for further growth of our business», comments Mr. Kirill Yurievich Aladyshev, Financial Director of OJSC "VTB-Leasing".

Development of IT system for transaction support for operating leasing of rolling stock will be finished in Q3 2010 – pilot operation of the system will commence also in Q3 2010.