Vaasan

Getting more out of data – Vaasan renewed its financial planning

Established in 1849, Vaasan is one of Finland’s oldest bakeries. Familiar to all Finns, Vaasan also operates in the markets of the Baltic countries. We implemented Vaasan’s new financial planning and reporting system, which harmonised the international company’s operating methods, improved the predictability of business and reduced the amount of manual work.

An international operating environment entails a variety of cultures and customs. Vaasan – which, in addition to Finland, operates in the other Nordic countries and the Baltic countries – employed a variety of different financial planning and reporting tools that the units used according to their own customs when planning, budgeting and forecasting their business.

Vaasan’s motivation for the change project rose from a need to harmonise the financial planning processes, minimise manual work, improve the quality of information and transparency and to acquire a modern tool for financial planning.

We needed a modern tool which would allow us to get every bit of advantage out of the data produced, in real time.

To be able to use the data we collect in our business effectively, we needed full visibility to the figures of the entire group, says Vaasan’s CFO Tiia Ranta.

The partner selected for the revamping process was Solita, which functioned as a comprehensive consultation, planning and implementation help in the project. The delivered solution was tailored to Vaasan’s needs, in close cooperation with the customer.

Technology is only a part of the change

A project that encompasses several countries and various information systems is complex undertaking. In Vaasan’s case, this complexity took on the added challenge of the heterogeneity of the data produced by the units: the data’s incompatibility made its importation into the company’s new, centralised data repository a challenging task.

Vaasan and Solita’s shared, clear goal and good team spirit were the forces which shaped the daunting task into a functioning solution.

The project’s comprehensive nature presented challenges of its own. Its aim was to simultaneously renew both systems and operating methods in several countries.

Vaasan and Solita’s shared, clear goal and good team spirit were the forces which shaped the daunting task into a functioning solution.

Increased visibility and efficiency

The new system has provided comprehensive visibility into Vaasan’s business, by making the organisation’s figures available to all of its units. The automation has also reduced the amount of manual work, which has freed the skills of the financial staff to the support of business.

“We have to be able to respond to changes in demand very quickly and engage in long-term planning at the same time. The better availability of data and the compatible and automated processes have improved the predictability of our business,” says Ranta.

Results

  • Harmonised operating methods and technologies make data compatible
  • The data of various countries and business units at the disposal of the entire organisation
  • Full visibility to the company’s data throughout the organisation
  • Automation of processes
  • Improved predictability, consistency and budgeting
  • Increased efficiency of work of financial professionals

The better availability of data and the compatible and automated processes have improved the predictability of our business.
Tiia RantaCFO, Vaasan

Technologies

  • IBM Cognos TM1
  • IBM Cognos Controller
  • IBM Cognos BI
  • M3 ERP and centralised data repository

Solita’s role

  • Planning
  • Implementation

Interested? Contact us

Joni Ojamäki

Director, Analytics

joni.ojamaki@solita.fi

+358 45 1300 269