Adven-Värmevärden man and factory

Adven/Värmevärden: “Clausion knows the playing field of financial management thoroughly”

Adven/Värmevärden is a leading provider of energy and water solutions in Northern Europe. The company generates steam, heat and cold for industry and implements various solutions to promote energy, water and material efficiency. For properties, the company provides heating and cooling with district heating and property-specific solutions. The group has a turnover of approximately 300 million euros and employs more than 500 energy professionals and operates in six different countries.

Carefully done groundwork as the cornerstone of the design

Adven had recognized that the Group’s financial function, both in the Nordic and Baltic countries, had several development needs related to processes and tools. Adven did thorough groundwork by drawing up their process first, followed by a system map. At the time, it was realized at the latest that there was a need for a consolidation system.

“Along the way, our challenges and needs have even grown and changed with the Värmevärden merger. For instance, we moved from FAS to IFRS reporting, which led to consolidation principles changing in one fell swoop. The transition to IFRS would not have been possible in practice without a system made for financial consolidation,” says Ilkka Kosola, CFO, Adven/Värmevärden.

“Clausion’s consolidation system brings flexibility to parallel organisational structures as well as acquisition situations when starting to simulate a legal structure. Easy and fast integration ensures that when we buy new businesses, we can immediately consolidate numbers. Clausion system is also a great solution for situations where we use an external accounting service. We can just tell you in which format the figures are desired, what the dimensions are and what the time span is, and an external partner can easily deliver the data, and group visibility is guaranteed,” Kosola continues.

Top-class expertise

In addition to the system features, the smoothness of the co-operation was emphasized in the selection of the corporate performance management partner. “During the sales process, we found common ground and I trusted that the people at Clausion and those involved in the project would do their best to make the project a success. Combining internal and external accounting in a financial management system is very important to keep the figures consistent. Clausion is just the right size of a partner for us, and Clausion’s system is well tested. Everyone involved in the project is thoroughly familiar with both the system and the playing field – Clausion has delivered with an excellent attitude,” says Kosola about the co-operation.

Top 3 reasons why Adven/Värmevärden uses Clausion’s solutions:

  • Agility – changes in organisation or legal structures.
  • Flexibility – accounting can be in any system, in-house or outsourced.
  • Easy deployment when new companies or units enter.