And the same in Swedish - Efima – Erikoistumme sinuun
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Case Study © Copyright 2013 Efima Oy Case Talentum Talentum is a Nordic, listed company that publishes media and literature for professionals in various fields and organises topical training and other events. The company employs 754 persons in Finland, Sweden, Denmark, the Baltics and Russia. Talentum wished to unify its financial management practices in Finland and Sweden. The system chosen for this task was Microsoft Dynamics AX delivered as a cloud service by Efima. In tandem with sharing the same accounting system, Finland and Sweden now also share the same chart of accounts and internal accounting structure. Transparency has improved, and the company now has more time for quality improvement. Niclas Köhler, CFO for Talentum, says that personnel on both sides of the Gulf of Bothnia are now satisfied with the new accounting system. And the same in Swedish
Transcript of And the same in Swedish - Efima – Erikoistumme sinuun
Case Study
© Copyright 2013 Efima Oy
Case TalentumTalentum is a Nordic, listed company that publishes media and literature for professionals in various fields and organises topical training and other events. The company employs 754 persons in Finland, Sweden, Denmark, the Baltics and Russia.
Talentum wished to unify its financial management practices in Finland and Sweden. The system chosen for this task was Microsoft Dynamics AX delivered as a cloud service by Efima. In tandem with sharing the same accounting system, Finland and Sweden now also share the same chart of accounts and internal accounting structure. Transparency has improved, and the company now has more time for quality improvement. Niclas Köhler, CFO for Talentum, says that personnel on both sides of the Gulf of Bothnia are now satisfied with the new accounting system.
And the same in Swedish
System functionality as starting pointInitially, three different accounting systems were being used by the Finnish and Swedish companies in the Talentum Group. Their goal was to unify their financial manage-ment processes and systems across the group. The system chosen for this task was Microsoft Dynamics AX delivered as a cloud service from Efima, which included Efima Invoice Workflow for the electronic manage-ment of purchase invoices. Niclas Köhler, CFO for Talentum, says the implementation project was exemplary. He measures project success based on budget, timetable and quality, and he indicates that the company’s goals were met in all three areas. One of the company’s original objectives was to utilise the system features and functionality as effectively as possible, and as a result, the number of change requests was minimised. Köhler tells us, ’My experience with projects of this size is that there are about 50 change requests. We only had 10 of them. You can draw a direct line from this to project suc-cess’.
It’s not only about ITKöhler emphasises that users and process-es play an important role in all implementa-
tions of financial management systems. In fact, they should not be called IT projects, and during every phase, the business perspective should not be forgotten. He compliments Efima for being competent in both financial management and in IT project management. ‘Efima’s experts understood our operations and the requirements of our industry. The end result supports our busi-ness’, he says.
The chart of accounts and reporting structures are now the same on both sides of the gulf. ‘We now know what the Swedes are talking about. Practices, too, are now more unified in different companies. Our processes are more efficient, and our operations more transparent’, Köhler describes.
Information where it is neededThe system has now been in use for a little over a year. The next step is a development phase to derive even more value out of the solution. Köhler envisions improved report-ing in which information would be more efficiently available to support operations. ‘AX communicates well with other systems’, he noted. ‘I want to drive our development away from reporting and more toward busi-ness intelligence. What can we automate…
Talentum is a Nordic, listed media company that publishes media and literature for professionals in various fields and organises topical training and other events. Direct marketing is the strategic distribution channel in publishing. The company employs 754 persons in Finland, Sweden, Denmark, the Baltics and Russia. Company turnover in 2012 was 77.2 million euros.
Niclas Köhler, CFO
”Our processes are now more efficient and our operations more transparent.”
At a glance The challenges• a need to unify financial management in
Finland and Sweden• acquisition of a new financial system• transparency and efficiency as goals The solutions• Efima Finance as a cloud service
(Microsoft Dynamics AX)• Efima Invoice Workflow• Efima Consulting: development of
financial management processes The rewards• unified practices• successful implementation and
continuous improvement• opportunity to develop reporting and BI
© Copyright 2013 Efima Oy [email protected] Tel. +358 10 470 5450 www.efima.com
Several Finnish, mid-sized and large organisations have acquired their financial management and enterprise resource planning (ERP) systems as a cloud service from Efima. In addition to software, Efima offers outsourcing and consulting servi-ces in financial management. A solid, hybrid competence in financial management and information technology, along with solutions that truly support the customers’ business goals, are the basis of Efima’s rapid growth and customer satisfaction.
can we create something new…?’ he ponders. Köhler believes there may even be an opportunity to uncover competitive advantage by using data in new ways. This is extremely important in the turbulent busi-ness environment of Talentum.
EfimaConsulting
Efima Finance(Microsoft
Dynamics AX)
Efima Invoice
Workflow
