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STREAM TV

02/03/2015

Lidiya Dmitrieva, a Chief Accountant of the Broadcasting Company ‘STREAM’, comments,

‘Our choice of 1C:Accounting was dictated by the fact that this software has the most suitable set of functions for us and it is much easier to use it than the previous information system. The program makes possible to perform all current transactions with charges and VAT payments offering services to non- residents of the Russian Federation: purchase and sales of services and goods. Previously, these transactions took weeks, now the whole process of posting and data test takes just a few hours. The new information system gave us a possibility to stop manual data entry, prepare statements automatically and close periods correctly.’

The 1C-Rarus Company has automated financial and tax accounting at a Broadcasting Company ‘STREAM’, a market leader in producing thematic off-air channels in the Russian Federation. The installed software 1C:Accounting 8 helped to double performance of operation in the Accounting Department with 750 contractors and reduce thrice time required for preparing statements. Today STREAM has a transparent profitability evaluation system for each of the nine channels produced.

The STREAM Broadcasting Company is one of the market leaders in producing thematic off-air channels in the Russian Federation and a TV content aggregator.

Today STREAM produces 9 original channels. In January 2010, the first STREAM’s international project started. It began to broadcast a TV channel ‘STREAM. Russian Life’ in the USA. Unique channels of STREAM are broadcasted in 7 regions of the Russian Federation, CIS and Baltics countries, and Bulgaria.  

Today the company is an aggregator of more than 100 retransmitted channels.

Issuing an invoice to a buyer, the Company’s Accounting Department uses a special method of service cost calculation. It makes a process of issuing invoices more difficult and increases time for accounting document preparation significantly.

The software that the company ‘inherited’ after the holding restructuring had a great amount of redundant information about its partners and non-existent subsidiaries. This complicated the search of necessary information. In addition, the ‘inherited’ system was not upgraded that is why the staff of the Accounting Department prepared all documents manually.

All listed difficulties and a range of other problems, which had to be solved, made the Company’s management change the information system to a new and modern one.

Thus, the software product had to solve the following tasks:

  • automated generation of financial and tax statements;
  • profitability assessment of each business activity (channel);
  • automated ‘allocation’ of non-resident’s income tax;
  • reduction of time needed for preparation of financial documents, input and search for necessary information in the base;
  • reduction of data kept in the base.

„1C:Accounting 8“ has been chosen to provide necessary transparency of tax accounting with a friendly interface and a possibility to customize reports.

While choosing a partner on automation, STREAM’s management focused on the quality of services provided. As a result of the tender, 1C-Rarus became a contractor.

In the scope of the project, 1C-Rarus’ specialists automated 10 workplaces and performed the following:

  • data transmission from the previously used information system and its “clearing”;
  • automated record keeping:
    • the system of automatic invoice generation and printout of the required set of documents for the client has been created;
    • a distribution  of income/expense in accordance with business activities (channels) taking into account corporate requirements including distribution of general economic and field operations general and administrative expenses has been developed;
    • the subsystem ‘Revenue of Future Periods’ has been created. It automatically generates accrual of income and prevents from data corruption on account receivable;
    • non-resident’s income tax allocation while exporting the content outside the territory of the Russian Federation has been automated.
Lidiya Dmitrieva

Lidiya Dmitrieva,
a Chief Accountant of the broadcasting Company ‘STREAM’

All tasks specified by the Company’s Management have been solved as a result of automation. This made possible to achieve:

  • three-time reduction of time for accounting preparation;
  • seven-time reduction of the amount of data kept in the base by ‘clearing’ it from irrelevant data;
  • halving time for issuing invoices whose total amount is 750 items (on average with 3-4 rows each) a month;
  • profitability assessment of each activity with the 1C software;
  • reduction of time for work with accounts receivable by 30%.

Lidiya Dmitrieva, a Chief Accountant of the broadcasting Company ‘STREAM’, approves significance of the automation and its results,

‘Our choice of 1C:Accounting was dictated by the fact that this software has the most suitable set of functions for us and it is much easier to use it than the previous information system. The program makes possible to perform all current transactions with charges and VAT payments offering services to non- residents of the Russian Federation: purchase and sales of services and goods. Previously, these transactions took weeks, now the whole process of posting and data test takes just a few hours. The new information system gave us a possibility to stop manual data entry, prepare statements automatically and close periods correctly.’


About STREAM

Logo STREAMThe Broadcasting Company ‘STREAM’ is one of the market leaders in producing thematic off-air channels in the Russian Federation and a TV content aggregator. Until December 2008, the JSC Broadcasting Company ‘STREAM’ was called JSC STREAM-CONTENT. The company was established in February 2007 and since then it has been a part of the Holding ‘System Mass-Media’.

The Broadcasting Company ‘STREAM’ holds strong positions being among the top 5 producers of off-air TV channels. Since 2005 the ‘Broadcasting Company STREAM’ has been running 5 unique channels: ‘Hunting and Fishing’, ‘Healthy TV’, ‘Drive’, ‘Retro’, and ‘Mansion’. In September 2009 three new channels were launched. They are ‘Psychology 21’, ‘Questions and Answers’ and ‘Pets’.  On January 20, 2010 the first STREAM’s international project started. It began to broadcast a TV channel ‘STREAM. Russian Life’ in the USA.

STREAM’s unique channels are broadcasted in 7 regions of the Russian Federation, CIS countries (Ukraine, Belarus, Kazakhstan, Moldova, Kyrgyzstan, Armenia, Azerbaijan, and Georgia), Baltics countries (Latvia, Lithuania, Estonia) and Bulgaria.  

The Broadcasting Company ‘STREAM’ is one of the ‘pioneers’ on the market of content aggregation. Today the company is an aggregator of over 100 retransmitted channels. It also administers services ‘Video on demand’ (VOD) for the network of service provider ‘KOMSTAR-Direct’ in Moscow and Moscow Region.

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