Adven/Värmevärden: Streamlining Financial Management with Clausion

Adven/Värmevärden, a leading Northern European provider of energy and water solutions, sought to optimize its financial operations across multiple countries. The company offers a variety of services including steam, heating, and cooling solutions for industry and properties. With over 500 employees and a turnover exceeding €300 million, Adven/Värmevärden operates in six countries, necessitating a robust financial management system.

Adven identified areas for improvement within its financial processes and tools, particularly for its Nordic and Baltic operations. Taking a meticulous approach, they meticulously mapped out its financial processes, ultimately recognizing the critical need for a consolidation system.

The company faced additional complexities due to the Värmevärden merger. This involved a shift from FAS to IFRS reporting standards, significantly impacting consolidation principles. "The transition to IFRS wouldn't have been feasible without a dedicated financial consolidation system," explains Ilkka Kosola, CFO of Adven/Värmevärden.

Adven/Värmevärden selected Clausion from insightsoftware due to its inherent flexibility. The system readily adapts to parallel organizational structures and facilitates simulations during acquisitions to assess legal structures. "Clausion allows for swift integration of new businesses, enabling immediate consolidation of our financial data," says Kosola. "The system is equally adept at handling situations where we utilize external accounting services. We simply specify the desired data format, dimensions, and timeframe, ensuring seamless data delivery and group-wide visibility."

Beyond the system's capabilities, Adven/Värmevärden emphasized the importance of a smooth partnership for corporate performance management. "During the selection process, we found a strong alignment with insightsoftware's team," says Kosola. "Their dedication to project success instilled confidence. Integrating internal and external accounting within a single financial management system is crucial for data consistency. insightsoftware’s size and proven track record were ideal for us. Everyone involved demonstrated a deep understanding of both the system and the financial landscape, delivering exceptional service with a positive attitude."

• Agility: Adapts to changing organizational or legal structures.

• Flexibility: Accommodates any accounting system, internal or outsourced.

• Simplified Deployment: Streamlines integration of new companies and units.

By implementing Clausion, Adven/Värmevärden achieved a more streamlined and adaptable financial management system, ensuring continued success across its expanding operations. Learn more about how to automate your financial consolidation & simplify your business processes with Clausion. Ask for a free demo.