News

To further help enhancing its financial performance management and get a more modern group reporting system, Indutrade has reached out for Addedo to secure a successful upgrade of its existing group reporting system.

“We had outgrown our existing group reporting system and felt we would benefit from an upgrade. We wanted a modern and agile system; a system that better could accommodate our acquisition growth strategy and subsequent ongoing need for change in our structures and reporting model, said Olle Olofsson CFO Indutrade.

“With Addedo’s guidance we now have a system in place that gives us a common view of our financial performance across our decentralised group. Closings and regular ad hoc analysis are now much faster and safer due to new functionality, says Anna Käll, Group Accounting. She explains further, “we report and follow up on full P/L and Balance Sheet including a set of metrics by Business Areas, Segment and Country. With that type of management reporting model and a growing group including a large amount of different currencies we need a user-friendly system with very good and flexible reporting and consolidation capabilities.”

Indutrade’s governance and financial performance model is characterised by decentralisation with an objective oriented model focusing on growth and margin. Indutrade’s ca 125 subsidiaries have full P/L responsibility which contributes to increased flexibility and a stronger entrepreneurial spirit.

“Since we already had a reporting model and a legacy group reporting system in place, we had high demands and expectations on project management for the transition and migration of the new product. Being the number one financial performance management software consultancy firms in Sweden, Addedo was an obvious choice for us, And Addedo proved us right. Their consultants have been fantastic!”, asserts Anna Käll, Group Accounting.

When Indutrade selected Addedo to upgrade their group accounting system, they quickly recognized the value. “We are dedicated to the project and the customer. By optimizing the new possibilities with the new system to Indutrade’s specific demands as well as engage with our passion for improvements, we hope to exceed the expectations.” said Christina Peterson, Consultancy Manager Addedo.

Contact
Christina Peterson, Consultancy Manager, Addedo Ab
Mobile: +46 766 450 715
Email: Christina Peterson

Anna Käll, Group Accounting, Indutrade
Phone +46 8 703 03 24
Email: Anna Käll

About Indutrade
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by:

High-tech products for recurring needs
Growth through a structured and tried-and-tested acquisition strategy
A decentralised organisation characterised by an entrepreneurial spirit

The Group is structured into four business areas: Engineering & Equipment, Flow Technology, Industrial Components and Special Products. Indutrade’s sales totalled SEK 6 271 million in 2009, generating operating income of SEK 594 million before depreciation of intangible assets. Indutrade is listed on Nasdaq OMX Stockholm.

About Addedo
Addedo is an independent consultancy. Our consultants work for the CFOs and Group Finance function. We identify and implement improvements in partnership with our clients. Through information technology and process changes we help transform these improvements into better corporate performance. We serve a large client base ranging from emerging businesses to the largest Fortune 3500. Common for many of our clients is that they want to improve and support their reporting and consolidation process.

Addedo has offices in Sweden and Switzerland and the UK. This is where the bulk of our customers are located, even though many of our consultants are engaged in projects throughout Europe.

We strive to be the pan European consultancy partner to Group Finance.