Telia Cygate: Reliability and efficiency for forecasting
Telia Cygate is a part of the Telia Company group. Telia Cygate offers all the company’s ICT services through the same portal, integrable interfaces and one management model. The company’s turnover in 2020 was around 117 million euros and it employs ca 400 people.
Telia Cygate previously did financial forecasting, monitoring and reporting using Excel. The company soon realized that Excel alone was becoming too risky for the needs of the growing company. The need for a finance system that brings certainty to reporting was obvious. “It was important for us to be able to shift the focus of what we do in the future to analyzing the numbers,” Telia Cygate’s CFO Eva Tynjälä says.
Accurate forecasts tell how services and results will develop
“Telia Cygate’s forecasting process is based on the reporting level defined at the corporate level and the schedule from the reading plan. At the company level, the system enables a more concise and accurate level of forecasting. “If we want, we can decide that we do rolling forecasting every month,” says Eva Tynjälä.
At Telia Cygate, finance makes forecasts in cooperation with business functions. The task of the finance department is also to ensure that the right people in the business do the right things at the right time, so that the financial figures and forecasts are forwarded to the group in a timely manner. The implementation of the finance planning system is essential in order to get all the necessary people committed to the forecasting process and to understand their own role and responsibility in relation to the process.
“It’s worth focusing on the defining”
“The project and the introduction of financial planning have gone well. Clausion is commendably committed and I liked Clausion’s way of moving the project forward. The pace and professionalism of the work has been excellent.”Eva Tynjälä, CFO, Telia Cygate
“For companies that are currently thinking about purchasing a forecasting system, I would like to emphasize the importance of defining and initial specification. It’s worth spending time on this and doing the work accurately, even if it might seem like the project isn’t progressing as quickly as hoped,” says Eva Tynjälä. “We are now starting to have the basic building blocks and the system is in production use. When the forecasting process can be better implemented in the organization in the coming weeks, the benefits, for example in terms of saving time, will also be realized. The financial side can begin to focus even more on analyzing numbers and supporting the business,” concludes Tynjälä.
The 3 most important reasons why Telia Cygate uses Clausion’s solution for forecasting:
- Efficiency for the company’s forecasting process, where forecasts can be made flexibly, even every month.
- More sensible use of time: manual work is eliminated. From looking for formula errors to analysis.
- Defined process of forecasting supported by the system.