Barona automates and develops with Palette Software
Barona Group is a Finnish work-related multi-industry group of companies. Turnover of the 1999 established company reached 245 MEUR in 2015 employing 5,000 people. It carries out business in 9 countries including Finland, Sweden, Norway, Denmark, Estonia, Russia, Poland, Spain and Belgium. Barona Group builds taylor-made innovative solutions providing prerequisites for customers to grow and develop.
Barona Group is comprised of 64 separate juridical companies. The group has grown strongly during the past year and the growth continues. The Group’s number of invoices reaches 80,000 on a yearly basis and the number of lines is estimated to total approximately 240,000 at the end of 2016. The strong growth of the group required automation in financial administration. The challenge was to gather all separate companies under one solution with clear rules. The previous invoice automation solution was outdated and did not meet the requirements needed for growth. Barona Group looked for a modern, flexible solution using the latest technology.
Pasi Vilhunen, CFO of Barona Group comments the decision to choose Palette Software’s invoice processing solution: ”We needed a solution giving transparency to our financial administration. We used to run our systems with blind eyes but now we are on the track and can react quickly”.
Changes were implemented simultaneously in all companies and financial processes are now centrally managed. Purchase ledger and financial administration of the companies were closed involved in planning the change. The Group wanted to be able to concentrate on essentials through automation. All the companies are using invoice automation solution together with PaletteContract module, which matches recurring invoices directly to contracts without manual intervention. Now the processes are transparent with tools to manage them and reports are clear. The average circulation time of an invoice has dropped from 16 days to 4 days. The transparency of the process helps to tackle bottle necks, even out workload and steer the actions efficiently. Workload can be monitored on personal level and collection of information for reporting and management is quickly done.
”We were looking for an outright real-time reporting solution because we are searching for internal efficiency. We are now able to optimize our financial administration processes and enhance performance. Our time can be allocated for other duties and through automation the Group will collect remarkable savings. The rational for the investment was clear; in the next five years the Group will gain savings of hundreds of thousands”.
Barona Group will also implement PaletteMobile solution allowing invoice processing despite time and location by smartphone, tablet or portable PC. In addition, automation of the accounts payable process will be extended to companies outside Finland, first to Sweden.
”Automatization allows us to concentrate on our work and to further develop it. We strive to innovativeness and agility and expect our suppliers to work respectively. Cooperation with Palette Software has been smooth and we appreciate Palette’s ability to respond to our needs quickly”, summarizes Pasi Vilhunen.
Barona Group is a Finnish work-related multi industry group of companies. Turnover of the 1999 established company reached 245 MEUR in 2015 employing 5,000 people. It carries out business in 9 countries. Barona Group builds tailor-made innovative solutions providing prerequisites for customers to grow and develop.