Parmaco: Automation brings reliability
According to Parmaco’s philosophy, every child deserves a learning environment that inspires and supports them in the best possible way. Parmaco borrows schools and kindergartens that are a smarter choice in terms of learning, safety, environment, and the economy. Founded in 2012, the company employs about 200 people in a variety of positions, including production, design, sales, and administration.
Save time with a finance consolidation system
Finance consolidation system became topical when Parmaco began performing IFRS reporting in 2019. “We previously conducted our consolidated financial statements in several Excel-sheets, which was laborious and time-consuming. We started mapping out our consolidated financial statements and soon realised that Clausion’s IFRS side is really strong. All templates and automation were already ready. It was important for us to have as much automation as possible for consolidation without overburdening the system. We wanted the same system to be used in both internal and external accounting”, says Anneli Raskila, Financial Manager at Parmaco.
Automation brings reliability
The preparation of consolidated financial statements by Parmaco is considerably faster and more reliable due to the use of Clausion’s system. “A lot of things that used to have to be done every month can now be done on a rolling basis and there’s no need to focus on things like that during break-ups. The consolidation system does a lot of things automatically and reliably, such as the automatic elimination of internal items. We get the figures of all our companies in the same system, and we can drill down from the group to the transactions of separate companies. This has significantly improved transparency. The necessary adjustments can be easily made by yourself, and not everything is always behind the consultant. This brings flexibility to work, but also cost efficiency”, Anneli Raskila continues.
On the internal accounting side, the budget was made in the fall of 2021 for the first time using the Clausion system, as well as rolling forecasting has recently been introduced. In the near future, the development work on the internal accounting side will continue, as will e.g., importing Clausion’s system data into Power-BI -tool.
Economists as consultants are a great advantage
“The collaboration has been great – we have had top consultants. Often in system projects the problem is that we as economists speak a different language than the technical guy on the other side of the table – with Clausion this is not the case. The system consultants are financial experts who also have in-depth knowledge of the technical side of the system. This has been a really big advantage.”Anneli Raskila, Financial Manager, Parmaco
“Consultants have been able to produce solutions to even more complex issues. We feel very positively about the entire staff – they are genuinely interested in us getting the numbers right and things working as intended”, Raskila concludes.
Top 3 reasons why Parmaco uses Clausion’s solutions:
- Transparency in figures -> easy to analyse
- Consolidation is largely automated -> time saving
- Flexible system, also in the future