Telia Cygate: Reliable and Efficient Forecasting

Telia Cygate, part of the Telia Company group, offers all its ICT services through a single portal with integrated interfaces and a unified management model. The company, with a yearly turnover of around €117 million, employs approximately 400 people.  Telia Cygate previously relied on Excel for financial forecasting, monitoring, and reporting. However, Excel's limitations became apparent as the company grew. The need for a more robust financial system to ensure reporting accuracy was evident. "Our future focus should be on analyzing data, not manipulation," says Eva Tynjälä, CFO of Telia Cygate. To solve these challenges Telia Cygate invested in Clausion from insightsoftware 

"Telia Cygate's forecasting process aligns with Clausion’s corporate-level reporting structure and reading plan schedule," explains Tynjälä. "The system allows for more concise and accurate forecasting at the company level. We can even choose to implement rolling forecasts every month if desired."  Finance collaborates with business functions to develop forecasts. The finance department's role is to ensure the right people in business units take the necessary actions at the right time to submit financial figures and forecasts to the group promptly. Implementing the financial planning system is crucial to engage all necessary personnel in the forecasting process and ensure they understand their roles and responsibilities. 

"The project and financial planning implementation went smoothly," says Tynjälä. "insightsoftware's commitment is commendable, and I appreciate their approach to project advancement. The work's pace and professionalism were outstanding."  "For companies considering a forecasting system, I emphasize the importance of clear definition and initial specifications," advises Tynjälä. "Investing time in accurate groundwork, even if it feels like slowing progress, is essential. We now have the system's basic building blocks in place and are in production use. As the forecasting process becomes better embedded within the organization in the coming weeks, the benefits, such as time savings, will become even more apparent. This will allow finance to focus more on analyzing data and supporting the business." 

• Efficient forecasting process – flexible forecasting, even monthly. 

• More efficient use of time – eliminates manual work, allowing a shift from error checking to analysis. 

• Defined and system-supported forecasting process. 

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