Allowing technology to take over, save time and enable more efficient working processes
Orkla has recently signed a framework agreement with Adra Match regarding reconciliation, implying that these types of functions will be automated at all Orkla companies. The solution was set up and is operated by Orkla Shared Services, to ensure that no single company in the group will have to engage in this. Including a new company in the solution only takes a few days.
By allowing technology to take over, you will save time, reduce costs and enable more efficient working processes. A large part of this work is still performed manually in several finance departments within the group, in spite of being unnecessary and cost generating. The reconciliation system Adra Match Accounts is a solution that automates, standardizes and visualizes transaction management, constituting the concluding foundation for the company’s accounts at month and year-end.
Adra Match solution for Orkla related companies
Orkla and Adra Match have entered into an agreement on Adra Match’s solution for account reconciliation, and the accounts department has implemented this solution widely to its clients within the group.
“We have been using Adra Match’s reconciliation solution for years, and were very pleased with the partnership. Nevertheless, when the time came to update to a new and more advanced version, it was natural to consider other suppliers. In order to ensure the best possible terms for all Orkla companies in choosing a solution, negotiations took place at group level,” says Accounts Manager at Orkla Brands, Liv Marit Rognerud.
“Our decision to continue our collaboration with Adra Match was based on a number of reasons. They gave us a good offer, they are solid, and their industry experience offers an additional level of safety,” says Rognerud.
Important tool for Orkla
The reconciliation solution is used on a weekly basis and constitutes an important part of everyday life for Orkla, both in terms of meeting reporting deadlines and the group’s requirements in terms of bank reconciliations.
“It is difficult to measure the actual value of the solution, but we are definitely dependent on a reconciliation tool that works and is totally reliable. With the new and updated solution from Adra Match, we are sure that this is exactly what we have,” says Rognerud.
Pleased with the new solution
Stine Lekanger is team leader of the customer team in the Orkla Brands accounts department. She is one of three employers who have applied the new bank reconciliation solution from Adra Match for nine companies.
“The new solution has simplified our everyday work to a great extent, and is a significant improvement compared to earlier versions. With the automated reconciliation function, between 50 and 70 percent of the entries have been removed before we even start.
Moreover, the new solution works faster, allowing data to load more quickly. The comments we add in relation to open entries are included in the reports, which we are very satisfied with. And the imported files are automatically moved into the historic folder after import. The overall result is that we reduce the number of errors and save significant amounts of time,” says Stine Lekanger.
Thorough follow-up from Adra Match
It is Lekanger’s experience that both she and the team have been very well taken care of by the Adra Match consultants, both during and after the implementation.
“We are very pleased with the follow-up from Adra Match, and their consultants have worked efficiently and devotedly. The bank reconciliation solution is in itself user-friendly and intuitive, and in addition the consultants gave us substantial training and quick assistance when necessary. In short, we have been given all the help we need,” says Lekanger.
Seal of approval from the technicians
The Technical Project Manager from Orkla Shared Services, Thomas Hannemyr, is also very satisfied with the technical part of the process.
“Our collaboration with Adra Match in relation to the implementation has been great. We have delivered the necessary infrastructure, while they have been responsible for the solution set-up and further application operation. We have also made preparations for the various companies that wish to use the solution. Adra Match and their consultants have been very professional, and from our point of view, the process has been one hundred percent problem-free,” says Hannemyr.
Prepared for numerous companies
Due to the framework agreement between Orkla and Adra Match, it is possible for more Orkla companies to order the solution. The infrastructure is in place at Orkla Shared Services, and all that remains are merely adjustments at each of the companies. The implementation phase is uncomplicated, and the reconciliation solution can be applied within a short time after the order has been made. The road to easier reconciliation is thus short for those who are interested.
Consultants from Adra Match and Orkla Shared Services will be responsible for solution set-up. Implementation will last for approximately one day, where we adjust the solution according to your bank’s needs and financial system. During the day, you will also receive training and be able to do the next reconciliation on your own. The agreement also includes telephone support from the Adra Match support department. Adra Match Accounts provides the Orkla companies with multiple possibilities to perform multiple reconciliations. All processes which are currently performed manually, can be automated in Adra Match Accounts.