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Azets: Tackling the Challenges of a Multi-Group Environment

The leading provider of technology and services within accounting, payroll, HR, staffing and advisory in the Nordics needed a reliable system to meet the needs of their multi-group environment. Clausion FPM also helped to streamline processes and create common practices.

Replacing Excel

In 2016, it was time to look for a new solution when Excel could no longer meet the requirements of Azets’ customers.

A major part of Azets’ customer base consists of rapidly growing companies and companies owned by capital investors. ”Groups like these typically have company arrangements which are difficult to manage with Excel”, Group Reporting Service Lead Sirpa Haavisto explains.

Azets needed a good tool to replace Excel.

Haavisto had previously used FPM’s predecessor Group Consolidation, and she had also gained some experience with FPM in Azets’ customer projects. The decision was easy – FPM provided a solution for the shortcomings of Excel, because it offered better support for changes such as recording structural arrangements.

”Because many of our customers have operations in the Nordics and use other currencies in addition to euro, FPM is also a good solution for currency conversions”, Group Accounting Specialist Kristina Segerqvist adds.

Serious work with a touch a humor

Azets’ FPM solution includes financial accounting, actuals consolidation and the FAS ja IFRS Packages. Forecasting and budgeting functionalities were not included, because the same solution with no customer-specific customizations is used in Azets’ multi-group environment for all customers.

For data transfer, Azets’ FPM system has interfaces to three source systems: Netvisor, Microsoft Dynamics NAV and Visma Business. In addition, some data is entered manually in the system.

Azets’ untypical multi-group environment was challenging to implement. No ready-made solution was available – a unique environment enabling both FAS and IFRS reporting had to be created according to Azets’ special requirements.

Data security and user rights were especially important.

”It was crucial to make sure that no-one would accidentally see the wrong data”, Haavisto emphasizes.

A special thank you goes to Clausion’s highly skillful consultant. Among all the serious work, the team did not forget humor.

”Our cooperation was excellent and the spirits were high. We laughed a lot”, Haavisto and Segerqvist remember.

Common processes at the core

FPM has met the requirements of Azets’ customers very well. Azets has the main responsibility of using the system, and they have several FPM administrators. Responsibilities have been divided between different departments, and FPM has helped to establish common processes and practices.

”With Excel, everyone has their own way of doing group consolidation, and it is very error-prone. In a multi-group environment, it is important to have common guidelines that everybody follows”, Haavisto says.

Azets holds regular administrator meetings to agree on common practices and discuss the needs of different customers. Development suggestions and ideas are forwarded to Clausion.

All Azets’ customers do not have access to FPM, but some use it for reporting or entering data. Many users have found useful, for example, the drill-down functionality for viewing document-level data on reports.

Azets has been very satisfied with FPM.