Clausion responds to the needs of a growing and changing wholesale company. Learn about Relais Group’s FPM implementation project.
Relais Group is a wholesale company specialized in the import and distribution of car electrical spare parts and equipment in the Nordic and Baltic region. In the recent years, the company’s business environment has changed significantly.
Relais Group’s business has expanded, and the corporate group structure has changed. In 2017, Relais Group consisted of 8 companies, and business activities between the companies have continuously increased. The companies use different ERP and accounting systems as well as different currencies (EUR, SEK, NOK).
At the same time, financial reporting has become more complex. The quality of reporting also needed to be harmonized, developed, and improved in general. The management and investors constantly need more regular and accurate information. From the organization point-of-view, a legal and geographical segmentation was needed. The upcoming transition to IFRS, a new financial organization structure, and the fact that Excel was a difficult and no longer a sufficient tool in the changing circumstances, were also important factors in the decision to look for a new solution.
Why Clausion FPM?
The internal management accounting and group consolidation processes at Relais Group needed to be developed. Other financial management challenges, such as financial statements and a big acquisition, were also relevant in making the decision.
One of the reasons for choosing FPM was that FPM enables budgeting and financial forecasting as well as multi-currency processing and automatic counter entries. With the IFRS transition, Relais Group will need flexibility to add more accounts to the account chart. The FPM solution supports IFRS reporting as well as reporting and forecasting with the organization and product dimensions (forecasting is not yet in use). Monthly consolidation can also be done with FPM.
A goal was also to find a solution for staying up-to-date with cash flow and notes. In the future, Relais Group is also planning to transfer the figures of the different companies directly to FPM using an interface.