Moscow, October 7, 2010. CenterTelecom OJSC reports that it has taken part in the Oracle Russian Summit held in Moscow in Marriott Royal Aurora hotel. The conference has been organized by Oracle Communications Ltd with information support by ComNews Publishing Group.

Igor Bannov, Chief of Corporate Information Systems Support Department, CenterTelecom, has presented to the forum's delegates a report on implementation of Oracle E-Business Suite (OEBS) in the company. CenterTelecom began developing and implementing of Oracle Master Data Management System based on Oracle E-Business Suite in 2007. In early 2010 the system was put into operation in all CenterTelecom branches; the projects related to centralization were practically completed; tax registers connected to fixed assets were also launched.  Now all CenterTelecom divisions are integrated into a system supplying the information to the unified database. The system is designed for data consolidation and for formation of management accounting and financial statements submitted by the company to the regulators.

According to Mr. Bannov, except unification of business processes there were many other positive aspects of OEBS implementation including improvement of CenterTelecom's manageability by means of centralization of the functions, reduction of term necessary for the company's IFRS and RAS financial statements preparation, decrease in share of paper document interchange and reduction of expenses for the documents' preparation and approval.

Among the conference's participants were representatives of Russia's Ministry of Telecommunications and Mass Media, Federal Agency of Telecommunications and other regulators, senior managers of Russian and foreign telecommunications operators, telecommunications equipment manufacturers, system integrators, as well as consultants and industry experts.