Cases
Cases
Digital finance journeys
At Solitwork we are very proud of our customer references, which consist of companies that are world-market-leaders in their industry.
We are grateful for the trust we have received over the many years we have worked together with several of Denmark’s largest and most successful family-owned companies.
Have a look at the examples below of how we have helped customers with their digital finance journeys.
Case stories
Gyldendal is Denmark’s oldest and largest publishing company. Since founded in 1770 it worked to enrich the Danes with knowledge, art, culture and good reading experiences.
Today’s modern Gyldendal consists of several companies within book publishing, educational materials, e-learning, mentoring, online audio and e-book service and distribution solutions. The complexity of the group has made ongoing reporting and budgeting a complicated affair. Historically, Gyldendal has used spreadsheets, but as the organization grew it became more and more complex and time-consuming.
“We evaluated different suppliers but quickly decided on Solitwork. They presented a flexible and competitive end-to-end platform that met all our needs across the group. Solitwork has strengthened our finance team with better tools and deeper insights into data. We have automated many of the tasks we previously spent hours on in Excel. And with the time saved and the easy access to insightful data, we can deliver much better business partnering to our stakeholders”
Morten Rosenbæk, Head of finance, GyldendalUhrenholt is a globally represented food company delivering dairy products and frozen vegetables to a broad range of retail, wholesale, foodservice and industrial customers in more that 120 countries around the world.
Being a multinational company with a complex legal structure and more than 20 companies, made financial consolidation and reporting difficult. A legacy consolidation tool and manual Excel-work made the process overly complicated for the finance team. When given notice that their consolidation tool was running out our service, it was time to act.
Within 2 months Uhrenholt had a new and fully automated cloud-based consolidation solution supporting their monthly and yearly financial reporting. In addition to the technical platform, Solitwork supported Uhrenholt with the necessary training and competencies to comfortably make the quick shift from one solution to another.
“We have experienced a great commitment from Solitwork, and with the AFC platform, our new consolidation process was up and running in no time. Solitwork delivers professionalism, and a powerful platform, which we in Uhrenholt can rely on for our monthly and yearly financial consolidation process.”
Dorte Serup Hæsum, Former VP Group Finance, Uhrenholt
Whiteaway is a leading supplier of household appliances in all of Scandinavia. Through online shops, retail chains and wholesales, they have been challenging the market with their innovating and digital mindset since 2003. You will know the group through its brands ‘Skousen, tretti and Whiteway’.
Formerly the group’s financial reporting and accounting was tied up in a time-consuming and manual process. Extracting financial data from the groups ERP systems and doing the consolidation in Excel. A complicated and cumbersome process considering the amounts of internal trading between companies, exchange rate effects and complicated ownership structure.
“We needed a robust consolidation solution that could help speed up the consolidation process and make it less person-dependent. It was important to strengthen our accounting team and provide them with better tools to help support their work around monthly closings and reporting.”
“We have a complex corporate structure and many requirements in our reporting. We worked closely with Solitwork to find the ideal solution. They took responsibility for the implementation and provided valuable insight throughout the process. It was a good learning experience for us to discuss our internal processes. With a brand-new platform, we had a chance to do things the best way possible.”
“Solitwork’s platform provides us with automated consolidation across all companies and deep insights into our financial performance. Without all the hazzle of our old setup in Excel. That was definitely the dream scenario when we started.”
Michael Blaabjerg Madsen, Finance Business Partner, WhiteawayOrion Reederei has been present in the shipping industry for more than 90 years. Today, Orion remains one of the world’s top managers of bulk carriers employing more than 1400 seafarers on board their fleet of nearly 50 vessels. These credentials require an updated platform, for managing and reporting on both internal and external data for management, shipowners, and other stakeholders such as financial institutions, investors etc.
With the emerging digital transformation consuming the German market, Orion was searching for a business solution, from which they could automate and optimize their existing manual reporting process- es. In this search, Solitwork’s AFC Data & Analytics platform has been selected to solve this task.
Every quarter the Orion finance team is submitting detailed reports to the ship- owners on the operational and financial performance of their vessels. A quite time consuming and exhausting exercise requiring significant manpower as all processes are manual and with data coming from multiple sources/systems.
With AFC Data & Analytics, Orion has managed to automate, optimize, and digitalize the quarterly performance reporting to the shipowners with direct data loads from their ERP legacy systems to the reports, meaning that the quarterly reports including vessel chartering and operation, operational expenses (OPEX), crewing and general vessel management went from extensive manual labor to real-time updated automated reports enriched with various pre-defined business logic. This automated optimization now allows the team from Orion to focus on what really matters, namely the analysis and business optimization rather than data management.
Enabling a more data-driven work-life with the AFC Software, the path for a digitalized future has now been established, and for the next phases, Solitwork is working together with Orion on bringing in more operational data to the quarterly reports including commenting in SharePoint, to enrich the Power BI reports for a more automated analysis process. Furthermore, Orion is planning to use the AFC Software within other areas of their daily business including Crewing, Quality Management and Accounting/Finance.
“This process has been an eye-opener for us. Throughout the process, we have become familiar with the professionalism and speed showed by the people from Solitwork. We have not only seen the significant possibilities the AFC software provides us in the digitalization of our workflows, but also how it can assist us in improving our overall service to our clients. I can highly recommend Solitwork and their Cloud platform, AFC Software.”
Mads D. Sørensen, Former Managing Director, Orion Reederei GmbH
Besides near-real-time OPEX reporting, the solution also includes an automated asset status reporting covering not only the daily operating costs, but also chartering information, voyage overview, off-hires (if any), periodic cash-flow statement and investment KPIs on each of the vessels owned by A. O. Schifffahrt.
“With the implementation of the AFC Maritime Analytics we have succeeded in automating a large part of the vessel related reporting to our stakeholders; financially as well as operationally. Furthermore, with the full data integration towards our technical manager, Orion Reederei, we are now able to follow the development in the OPEX on each of our vessels. Thus, we can compare the ship operating expenses (OPEX) over the complete fleet or by individual vessel segments, these also in the historical annual comparison. Furthermore, by compiling individual financial as well as operational data (e.g. from SAP, CloudFleetManager, etc.) and digitizing this data, we obtain a good overview of the current investments and developments of same. All data and reports (historically and current) can be accessed at any time and are secured via the highest security standard. It has been a pleasure to work together with the professional and dedicated team at Solitwork and to see how they have been able to turn our ideas into concrete solutions. We are looking forward to the continued cooperation between our two companies”.
Rembert Cluesener, Managing Director, A. O. Schifffahrt (AOS)“We are very proud to welcome A. O. Schifffahrt to our AFC platform and we are looking forward to a long and fruitful cooperation with the AOS Team. With the digital mindset provided by A. O. Schifffahrt, we have been able to add further functionalities and value to our AFC Maritime Analytics solution. Furthermore, being able to attract and work together with first-class shipping companies like A. O. Schifffahrt and Orion Reederei is confirming that our AFC platform is ideal to handle the vast amount of data and individual reporting requirements seen within the shipping industry”.
Esben Duedahl, Founder and CEO, Solitwork A/S