Perhaps in the future we will acquire companies with other accounting packages. We know now that we will be able to connect those easily with our reporting tool.

Future-proof solution that grows with you

When the Swedish MIAB, specialised in cleaning and facility management, acquired Finnish N-Clean a few years ago, the company suddenly faced a reporting challenge: how would the organisation achieve uniform, consolidated reporting across all locations in an efficient manner? They briefly considered using the same accounting package in both countries, but it turned out to be much more cumbersome than implementing BrightAnalytics. 

“Everything started when MIAB bought N-Clean in 2019,” begins Marko Nikodijevic, Finance Director. “Until then, our company had only operated in Sweden. After the acquisition, it quickly became clear that we needed reporting across the group. Initially, we managed with Excel. Both countries used different accounting packages: MIAB had implemented Visma Business, while N-Clean used the Finnish Sonet. We extracted reports from both systems for each country and integrated them into Excel in an attempt to consolidate all the data into a single report for the board meeting. 

But in the end, the company always had to revert to separate reports for each country, as it turned out. “Whenever a question arose that required us to delve into the details, we had to resort to the individual accounting packages.”, Marko continues. “Working with two systems and two types of reporting made it difficult for everyone involved. Additionally, manually transferring data was extremely time-consuming. 

Head and Shoulders Above 

Initially, MIAB considered switching the Finnish branches to the accounting package used in Sweden. “But changing the accounting package was cumbersome: it would mean they would also have to change their practices and processes. Additionally, there was a significant implementation cost involved.”

MIAB decided to take a different approach and search for a smarter solution. “We wanted a tool that would help us analyse the numbers at various levels: for the group, the individual companies, and also at the unit and customer levels. The software needed to support us in terms of P&L, balance sheet, forecasting, budgeting, and cash flow management. In the first round, we compared about five suppliers. We didn’t know about BrightAnalytics at that time. Eventually, we couldn’t reach a consensus, so we decided to pause the project. When we revisited it after the summer, I had become familiar with BrightAanlytics. So, we added them to the suppliers we were comparing. And it turned out that BrightAnalytics stood head and shoulders above the rest. Many packages were not as comprehensive as this solution. That made the decision easy.”

Win-win

Today, two years later, BrightAnalytics is widely used in the company, much to the satisfaction of both Marko and the other users, as he explains. “BrightAnalytics easily connected with both Visma Business and Sonet. This allowed our employees to continue working as they were used to. A win-win!”

He also finds it advantageous that they can create much more in-depth analyses and reports in BrightAnalytics than they could in the additional packages. “The functionalities of an accounting package are quite superficial when it comes to reporting: it usually involves standard reporting without group-level consolidation or elimination of intercompany transactions. Very basic, in other words. BrightAnalytics provides us with insights into various reports and analyses within management reporting, including the P&L, the balance sheet, ratios, and cash flow. And the connection via an API was very smooth, which makes the solution future-proof: as a company, we are always looking to acquire companies in Denmark, Norway, or elsewhere in Europe. We may acquire companies with different accounting packages in the future. We now know that we will be able to easily connect them to our reporting tool.”

Also for non-financial profiles 

Today, around 50 users across the entire company have direct access to the system: from the board and the management teams in both countries to the service directors. “These users can easily track the numbers themselves, each with their own specific profile that grants access to certain data. This is also a very important feature, as the system contains sensitive information, such as salary data, which not everyone is permitted to see.” 

Many of the users are non-financial profiles, but even they quickly got the hang of the system, says Marko. “For instance, our service managers usually deal with customers, not data. They are not always eager to learn a new IT system, but learning to work with BrightAnalytics was a breeze for them. They always tell me how easy they find it and how much clarity the tool provides.” For Marko himself as Financial Director, and for his team of accountants and controllers who work with BrightAnalytics every day, the system is a great support. “For our controllers, it’s a plus that they can manipulate the data, view it from different perspectives, and drill down into the details they need. Additionally, we have the capability to eliminate intercompany transactions and consolidate. We are also using the budget and forecast modules now.”

Everything and more 

Additionally, Marko is considering whether the company can also implement the Controlling app and the operational module. “Many people in the organisation are asking for more data and reports from our CRM system and want to combine these with management reporting. We are also exploring whether we can link our new HR systems with the operational module. In fact, in almost every conversation with our IT director, who is very positive about BrightAnalytics, we discuss the possibility of linking another system with the software. We are familiar with the application, and it offers us everything and more. With 80% of our data already in BrightAnalytics, why not add CRM and HR? This way, we have all data and reporting in one place and can speak the same language across all reports. Additionally, we can rely on excellent service. The support team at BrightAnalytics is very responsive and always open to new possibilities and suggestions. Whenever I ask something or make a proposal, they are receptive. Naturally, I regularly recommend this tool to my contacts.”