Group consolidation with fluency like never before – Case DNA x AARO
Manual work seamlessly automated and data entry errors eliminated when DNA implements AARO for group consolidation and IFRS compliance.
DNA is one of the leading telecommunications companies in Finland with millions of subscriptions in its fixed and mobile communications networks.
Back in 2015, DNA was looking for a new group reporting partner and consolidation system and after thorough vetting, DNA chose the flexible AARO product suite.
Going into the project, DNA's main objective was to achieve a higher level of automation in group reporting. As changes in data occur, it would need to be updated in different locations without time-consuming, manual work. In addition, the aim was to, for example, automate the creation of balance sheets.
Kyösti Bergdahl, Development Manager at DNA acted as the project manager for the AARO implementation. He and the DNA team worked hand-in-hand with AARO’s personnel to configure and implement AARO on-premise. Bergdahl highlighted the expertise of AARO’s group consolidation professionals for a successful implementation.
Benefits were instant as already during the data migration from their previous system into AARO, DNA’s team used the AARO software’s sophisticated functionality and was able to identify and correct reporting issues.
Group consolidation and IFRS 16 needs fulfilled
Today, the company enjoys that AARO provides a link between databases, allowing DNA’s finance professionals to load information directly from their ERP system.
“When preparing financial statements, you must prepare reports and make a lot of notes. AARO is now providing the information automatically”, says Bergdahl.
DNA’s team found that AARO and AARO Lease IFRS 16 were easy to learn and also use in practice. AARO Lease IFRS 16 is a simple system for monitoring, defining and following up both the current and future effects of IFRS 16 on your leases. DNA uses the dynamic functionality to store contracts that fall under the IFRS 16 standard and can easily import figures and generate reports.
Due to AARO and AARO Connector automation, DNA is working more efficiently, collecting more transparent data, and generating reports faster than ever before. If figures change, end users upload them to AARO and updated reports are seamlessly generated.
The monthly closing process is working smoothly, and DNA has a robust and fully functional group consolidation and lease registry system. An important part of long-term success with AARO, according to Bergdahl, is also the fast and valid level of service at AARO’s support.
“AARO works nicely and has fulfilled our needs. Both consolidation and AARO Lease IFRS 16”, Bergdahl sums up.
Are you interested in implementing AARO for easier and faster group reporting?
Great choice. We at Greenstep have extensive knowledge of AARO's tools and we collaborate with the company closely. We support AARO’s implementation with an extensive CFO & group accounting team with solid IFRS and consolidated financial statements expertise. Book a time with us to learn more!