Indoor Group Oy is a leading provider of home furniture and interior design products in Finland and the Baltic countries. The company includes retail chains Asko and Sotka, furniture factory Insofa Oy, and Indoor Group AS, which is responsible for Baltic business operations.
Indoor Group started using Primavista in 2019 when they needed the right consolidation and reporting tool. Indoor Group’s Group Financial Controller Kimmo Verkola was already familiar with Primavista, so the choice of system was clear.
“I knew that Primavista has a good price-quality ratio and is quick to implement”, Verkola states.
Indoor Group was able to start using Primavista very quickly.
“Primavista can be set up quickly – that’s the best part about it. We started at the end of August-beginning of September and did the September interim financial statements with Primavista, and we were able to start budgeting in October.”
According to Verkola, it is essential that Primavista is easy to integrate with any system.
“If you can get the numbers into an Excel file, you can import them automatically into Primavista.”
Using Primavista is so easy that consultants are not needed for assistance.
“Using and maintaining it is simple. We have the system under our control, and we hardly need any consultant’s help.”
Primavista adapts to Indoor Group’s needs, as they have created the desired report templates in Primavista.
“For the main users, the only limit is their imagination when creating and utilizing reports.”
Verkola feels that working with Primavista is also fast.
“IFRS and FAS consolidation and even parallel preparation of group financial statements are really fast. You can easily create income statements, balance sheets, and cash flows for five years. We can easily calculate the profitability of each store. Roll-up functions are also very easy and automatic. At the company level, it’s great that you can easily do rolling forecasting for profit and cash flow.”
Indoor uses Primavista for various purposes, such as HR reporting, calculating personnel work years, and separate company financial statements. Creating balance sheet books is very fast, as income statements, balance sheets, and notes can be directly transferred to an Excel file and printed in balance sheet book format.
According to Verkola, one of the benefits of Primavista is that the group financial statements (IFRS & FAS) notes form a group sheet, just like the income and balance sheet. Thus, creating an official IFRS balance sheet book is a fast process.
“Not many systems can do that.”
Verkola feels that Primavista has made their everyday life easier. For example, store managers can see the results of their own stores directly from Primavista.
“No one needs to send any Excel reports or other reports in the accounting system. You can see your own budgets and other information directly from Primavista.”
Verkola, who has been doing group financial statements and reporting for 20 years, summarizes that although he has looked at other systems, Primavista is in a class of its own in terms of price range.
“Absolutely superior in terms of price-quality ratio“, Verkola concludes.
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