fortum loviisa power plant

Fortum: Streamlining the forecasting process

Business Tools was introduced as a forecasting tool for the Fortum Loviisa power plant. As a result of the successful pilot project, the software will be expanded for the use of the entire company.

The project first started from Fortum’s need to optimise and streamline the company’s forecasting process. Company was looking for a modern, easy-to-use tool that would be agile to maintain and develop:

 – From the user’s point of view, our previous system was quite technical. Forecasting was time consuming and required a lot of manual work. The system did not provide opportunities to develop the forecasting process to the level we want, says Marko Kilpeläinen, Development Manager responsible for the implementation of Business Tools at Fortum.

– We set out to find ease of use in the forecasting tool, further development of the forecasting process and management of the process itself. Based on the pilot focused on Loviisa power plant, we can already see that these goals have been achieved. As the deployment expands to new business areas, the benefits will become increasingly visible, Kilpeläinen explains.

Easy and smooth installation

The choice of Business Tools was preceded by an extensive comparison of different options, Marko Kilpeläinen says:

 – We had 6-7 different business planning tools that were compared. We saw Business Tool’s licensing model as really good and flexible. In addition, Business Tools provided features of a modern planning tool that will make it easier to use the tool in different businesses.

– Our decision was also influenced by the fact that Business Tools was already in use at Fortum Recycling & Waste. Experience was found within our organisation, which made it possible to proceed quickly with the implementation.

Deployment was easy and smooth. Loviisa’s Business Tools users learned to use the tool with a few familiarizations and the need for support has been small, says Tomi Tyrväinen, Head of Finance at Fortum Loviisa nuclear power plant:

 – All the orientation and commissioning was done remotely due to the era of COVID-19 and the result is very good.

The system benefits are speed, agility, and ease of use

The speed, usability, and agility of Business Tools are examples of the benefits that have materialized as a result of the introduction of the new system. Fortum’s Tomi Tyrväinen piloted the first implementation of the Loviisa power plant’s long-term forecasting process with Business Tools:

 – The positive aspects of Business Tools have been speed, agility and ease of use.

– Positive feedback was received from users across the board. Compared to the previous situation, praise came in particular for its good usability and ease of use. Of course, change always brings its own challenges to people, and so some learning and adjustment was needed with Business Tools as well.

– It is also positive that with the new system, the business side has seen new interest and desire to dig into financial matters.

Roll-out in progress: Business Tools as a general financial planning tool

The use of Business Tools as a forecasting tool will expand to other Fortum business units during spring and summer 2021. There are also plans to increase the use of analytics in design.

With the expansion of use, the benefits brought by Business Tools are further emphasized. Marko Kilpeläinen describes:

 – Business Tools is really easy. It makes it simple and straightforward to maintain a forecasting process – there will be many benefits in the future. E.g., in the case of monthly closing, tasks that previously took half a day are now done within minutes.

– Business Tools brings great benefits. Of course, it should also be noted that there are many users. When everyone is able to improve a little on their own, the overall benefit is great.

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