Samruk-Kazyna To Introduce New Standards For Corporate Processes Of National Companies By 2017

Samruk-Kazyna To Introduce New Standards For Corporate Processes Of National Companies By 2017National Welfare State Fund “Samruk-Kazyna” introduces new standards for corporate processes of national companies, which will significantly increase the efficiency of their operations and focus on the implementation of the strategic objectives, the press service of the State Fund.

Standards (reference model), developed on the basis of international experience, will affect functions such as accounting and tax accounting, treasury, human resources management, IT management, data management, operational planning.

“Since January 1, 2017, six major fund companies will start working on new processes – according to the most conservative estimates of the economic impact of standardization of corporate functions of the national companies will be about 300 billion tenge up to 2020”, – the report says.

“We offer the reference model are universal and can be applied to any large Kazakhstani companies. However, they do not take into account the specifics of each individual company – in terms of the nature of its activities (mining, postal, energy and any other industry), so the task of each portfolio company – to adapt them to fit their own needs “- said the managing director of transformation and special projects of “Samruk-Kazyna” Adamas Ilkyavichyus, whose words are given in the press release.

which currently covers the JSC “NC” Kazaқstan Temir Zholy “JSC” Kazpost “, JSC NC” KazMunayGas “, business re-engineering and standardization of corporate functions are some of the most important initiatives undertaken in the framework of a comprehensive program of transformation of” Samruk-Kazyna ” JSC “NAC” Kazatomprom “JSC” Samruk-Energo “JSC” KEGOC’s “, said in the information.

JSC “National Welfare Fund” Samruk-Kazyna “created in 2008 by the merger of JSC” Sustainable Development Fund “Kazyna” and “Kazakhstan Holding for Management of State Assets” Samruk “. Under the management of the Fund are the largest strategic companies of the country, among which Air Astana, “Kazakhtelecom”, “Kazatomprom”, “KazMunaiGas”, “Kazpost” and others.