Our Business : Europe Shared Service Center in Sofia

Europe Shared Service Center in Sofia

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In September 2013 AES established Europe Shared Services Center in Sofia which delivers specialized financial, IT and Supply chain services to all AES businesses operating in the region of Europe and Middle East.

The strategic decision to open the shared service center in Bulgaria was taken by AES senior executive team on the basis of the competitive advantages of the country. These are the availability of highly qualified professionals, proficient in English and experienced working forinternational companies. Bulgaria’s strategic geopolitical and time-zone location, and the country’s political and macroeconomic stability are advantages that helped the identification of Sofia as a suitable location for the development of this business line. Currently, the Shared Services Center employs more than 70 qualified white collar workers and there is a tendency for this number to grow.

FINANCE CENTER

The finance center, which is the largest part of the Europe Shared Service Center, covers wide range of financial activities - processing invoices, basic accounting, financial statements, tax and regulatory reporting, internal financial controls and financial processes. Its main function is to provide specialized financial, accounting and reporting services to core operational businesses of AES in theEurope Strategic Business Unit. The development perspective is to take on new companies in the region. In addition, the financial center is working on a number of regional projects related to harmonization and unification of reporting systems and processes in all businesses it serves. All this happens with the dedicated work of a young and enthusiastic team of competent professionals who pursue goals and achieve excellent results in their work.

SUPPLY CHAIN MANAGEMENT

Supply Chain Management (SCM) function in Bulgaria is implemented  by a local team, part of the AES EMEA Supply Chain Management team. EMEA is a Strategic Business Unit created in 2012 to lead the company to a best class performer combining the efforts of teams based in Bulgaria, Jordan, Kazakhstan and Northern Ireland.

Our vision as a team is to contribute to the competitive advantages of AES EMEA through the delivery of integrated and sustainable supply solutions.

Since mid 2013 we have started several major initiatives to reduce complexity, excel our performance and enable better results for the company. Our supply chain management team was split into two main streams EMEA buyers performing centralized sourcing for most of the high value deals and local plant buyers realizing regular daily deliveries.

The AES Supplier Management procedures, which we apply to all our deals, observe the principles of transparency and reflect our corporate values. Our first value globally is Safety first. Therefore we require all our contractors to show their safety records, to be instructed in accordance with local legislation and to accept and strictly follow our world class company safety policy.

Along with safety standards, suppliers are required to comply with local legislation on environmental and occupational health. The AES procedure for selection, appointment and management of contractors actually increases their awareness in each of these areas.

The procedure contains several documents:

 

 

- Selection Appointment and Management of Contractors

- Bid Questionnaire

- Questionnaire for environment risk assessment

- Hazard Assessment Form

- Bid Evaluation Form

- Contractor Safety Rules

- Contract Monitoring

- Contractor Handbook

 

 

AES works transparently and facilitates market competition. We implement procedures that enable us being objective during our tenders. We evaluate the bidders taking into account certain aspects of their proposals such as Safety, Health, Environment, Security, Technical Parameters, Alignment, Cost and Execution. We have developed a strict Compliance Procedure that reflects our respected position of a NYSE listed company. The Compliance Procedure ensures that the highest ethical and legal standards are upheld in all our business transactions. The Procedure includes a “know your business partner” program which requires AES to conduct due diligence on every prospective business partner and/or vendor prior to entering into a business agreement. To that end, the prospective business partner and/or vendor:

 

 

- Provides completed and verified by signature Due Diligence Questionnaire.

- Acknowledges our Code of Conduct – From words to action.

- Provides a certificate of origin or certification.

 

 

We also use the service of a commonly accepted third party to check the vendor for possible reputation and legal risks.

AES EMEA Supply Chain Management team recognizes the need of a sustainable approach in every business decision taken. Thus, we are constantly striving for excellence and develop equally well our internal and external procedures. We apply specific key indicators for assessing our performance measures and tracking. AES has a global excellence program called APEX (AES Performance Excellence) and our staff has been trained in Six Sigma methodology for  business process improvement developed by Motorola in 1986. We are a risk aware team that performs a detailed analysis of costs and appreciate the unique qualities of our suppliers.

Supply of goods and services at competitive price is essential for the AES operation and maintenance. Compliance with all corporate requirements and procedures creates a sense of trust and confidence in our partners.

INFORMATION TECHNOLOGIES

The core IT teamislocalizedat the Europe Shared Service Center, based in Sofiain order to eliminating the geographicallimitationandboost the effectiveuse of all availablepotential of knowledgeandskills in the different areas. Thiscoreconsists of severalmajorfunctionalunits:

 

IT Business Analysis - thisfeatureis the linkbetweenbusinessand IT technology. The mainactivityis to identifyopportunities to improveexistingsolutionsandservants to analyze the changingneeds of the organization, andis a majorsource of informationaboutnewprojectsandservices.

 

IT Projects - Structuralapproach to the management of all processesrelated to the implementation of projectsandsignificanttaskswithin the IT structureEastern Europe.

 

Operational IT services - thisunitfocuseson the development of IT processes, theirimplementationandprovidessupport for existingservices.

 

Business applications - Ensureseffectivedevelopmentandmaintenance of keybusinessapplicationssuchasfinancialandcommercialsystems, andlifecyclemanagement of businessapplications.

 

Networksandcyber-security - providingprotection of informationsystemsandnetworks from cyberthreatssuchashackersandcyber-crime. Providesconfidentiality, integrityandavailability of the organization'sassets, information, dataand IT services.