Nordic Water chose AARO – therefore to increase reporting quality and gain time by shortened the group consolidation process.
Nordic Water is pioneering company within in water and wastewater treatment and has offered sustainable product solutions to markets worldwide since 1962.
They offer a wide range of equipment and systems for water purification plants, wastewater treatment plants and industries of all sizes.
Historically Nordic Water used Excel as a consolidation tool with risks of creating manual errors and with a lack of simple data-analysis. A proper consolidation system was needed to secure financial reporting, as well as support the business with financial follow-up. At this point, Nordic Water decided to invest in a new system to meet internal as well as external demands (ex. auditors).
Business Controller Jacob Anderberg explains: “AARO was selected, as the system fulfilled our criteria’s. As I was familiar with the product’s functionality and agility from being a previous user of the system, I was comfortable that AARO would meet our expectations.”
“The drilldown function means that you quickly can drill down all parameters, and that everything is connected.
The system also consolidates on the dimensions you have set up, every time. I think they’re some of the greatest strengths of AARO.”
Jacob Anderberg, Business Controller, Nordic Water
Jacob Anderberg and his team were involved in the AARO implementation all the way to go-live. He highlights AARO’s project management as a key to a success. Understanding which efforts and requirements a successful implementation demands from the customer – especially within the tailor-made activity document, which indicates which items they needed to resolve, meant they could go-live with the installation on time.
In addition, the pre-planned documentation and guides helped to get staff familiar with the product if they had never used it before. The result was a successful AARO implementation that went “according to expectations, flowed very well, delivered according to plan, and worked the way we wanted it to. We are really pleased.”
Peter Lindberg, Financial Controller, says that he has got the impression that the company’s users are very positive to AARO. “It has made it much easier for them to have a common structure for communicating within the finance department, the data is presented in the same format no matter how it is sent in.”
“From a manual Excel solution to an automated consolidation system, we have gained increased efficiency and internal control in our group consolidation process”
Louise Graffner, CFO, Nordic Water
“We cut a lot of time in the closing process, both on consolidation of data, and as creating our report packages in Excel using AARO’s Excel retrieve formulas. As soon as we have ensured that all the consolidation has been completed and the period is closed, we click the button and instantly have a report ready to send on to the management group and the board. It’s very effective and a great strength of the system.” Peter Lindberg concludes.
- High human error risk associated with time consuming manual data entry.
- Need for more efficient and accurate operational follow-up.
- Lack of control and streamlined group consolidation process workflow.
- To be able to analyze data in a simple, non-manual way.
- AARO product dimensions consolidation and predefined reports.
- The AARO company’s implementation team documentation, guides and project overview.
- AARO’s drilldown and expand function with the ability to easily twist and turn the information, to faster analyse and present data.
- Automated group consolidation.
- Faster and more efficient data analysis and reporting.
- A user-friendly, common structure on how the users communicate within the finance department.