Fortaco: Taking Control of Financial Consolidation

Fortaco, a leading brand-independent partner in the heavy off-highway equipment and marine industries, offers a range of services including technology, vehicle cabins, steel fabrication, and vehicle assemblies. Previously, Fortaco relied on an external partner for financial consolidation. As a large group performing IFRS accounting, they decided to bring external accounting in-house. This shift necessitated a group financial consolidation system.

"We conducted a thorough comparison of different systems," explains Johanna Kuisma, Fortaco Group Financial Controller. "Clausion's advanced automation, especially regarding financial statement notes and its extensive library of pre-built templates and content, ultimately convinced us." Fortaco views Clausion from insightsoftware as a long-term partner. "The system's scalability is perfect – neither too large for our current needs nor too limited for future growth. Clausion's features and user-friendliness are unmatched. The interface is incredibly clear and user-friendly," adds Kuisma.

The implementation of Clausion prompted a closer examination of source systems (other business systems) and source data. "We meticulously reviewed accounts, their usage, and harmonization. Clausion's system's accuracy far surpasses our previous approach, necessitating a deep dive into the data source. Revisions within Clausion revealed the true numbers, which is invaluable information for us," says Johanna Kuisma.

"The cloud-based system installation was seamless. Clausion delivered exactly what we needed: a well-automated group financial reporting system. Clear system checks identify items requiring review and manual correction. Additionally, Clausion offers extensive subject matter expertise. Having a group accounting expert lead the system implementation was a definite advantage. Our consultant was invaluable and a true expert, asking the right questions throughout the process to keep us moving forward. The overall collaboration has been very effective. Both customer support and project team members offer exceptional response times. Clausion's employee expertise is truly impressive," says Kuisma. "We now have access to much more comprehensive and extensive reports. Clausion's system is truly comprehensive," she adds.

"Clausion meticulously organized the project. Their understanding extends beyond the system itself, encompassing the financial perspective as well. The solution combines a robust system with extensive subject matter expertise. The project involved significant groundwork on our end, resulting in significantly improved data quality and reliability within the system," says Kimmo Raunio, CFO of Fortaco.

Automation: Reduced reliance on manual work eliminates human error. Excellent Reporting: Wide range of pre-built report templates. Usability: Clear and well-functioning system. Learn more about how to automate your financial consolidation & simplify your business processes with Clausion. Ask for a free demo.