Parmaco: Automation Ensures Reliable Financials

Parmaco believes every child deserves an inspiring and supportive learning environment. They specialize in acquiring schools and kindergartens that optimize learning, safety, environment, and cost-effectiveness. Founded in 2012, Parmaco employs about 200 people in various roles across production, design, sales, and administration. 

The need for a finance consolidation system arose in 2019 when Parmaco began IFRS reporting. "We previously used multiple Excel sheets for consolidated financial statements, which was laborious and time-consuming," explains Anneli Raskila, Financial Manager at Parmaco. "We mapped out our needs and realized Clausion's IFRS capabilities were exceptional. Pre-built templates and automation were readily available. Minimizing manual intervention during consolidation while maintaining system efficiency was crucial. We envisioned a single system for both internal and external accounting." 

Clausion from insightsoftware significantly improves the speed and reliability of Parmaco's consolidated financial statement preparation. "Many tasks previously requiring monthly attention can now be done on a rolling basis, freeing up time during closing periods. The system automates tasks like internal item elimination with high reliability. We have all company figures within the same system, allowing us to drill down from group data to individual company transactions. This transparency is a significant improvement. Necessary adjustments can be made independently, reducing reliance on consultants, enhancing both work flexibility and cost-efficiency," Raskila continues.   Internal accounting recently adopted Clausion for budgeting and rolling forecasting. They plan further development on the internal accounting side, including importing Clausion data into Power BI for data visualization. 

"The collaboration has been excellent – the consultants are top-notch," says Raskila. "System implementation projects often face communication challenges between financial personnel and technical specialists. With insightsoftware, this is nonexistent. Their system consultants are financial experts with in-depth knowledge of the technical aspects, a major advantage for us."  "The consultants were able to solve even complex issues. We have a very positive impression of the entire team – their genuine interest lies in ensuring our data accuracy and system functionality," Raskila concludes. 

• Transparency in figures – facilitates analysis. 

• Largely automated consolidation – saves time. 

• Flexible system – ensures future scalability.

Learn more about how to automate your financial consolidation & simplify your business processes with Clausion. Ask for a free demo.