New Consolidation & Report-solution Implemented in Record Time
Stark Group's Client Story
Solution Integration & Consolidation by Wiesberg
*Original citations are in Danish. All citations are translated from Danish.
Stark Group is the leading distributor of construction materials in the Nordic region, with 4,500+ employees and 186 stores spread across Denmark, Greenland, Finland, Norway and Sweden.
Stark group is continuously developing its business by finding new and better ways to service its customers, strengthening market position and exploring synergies. All of which create great demands for an efficient and flexible consolidation and reporting solution.
Stark Group is in a unique situation. It starts in September 2018, where Stark Group goes from being a reporting entity to becoming the parent company, due to change of ownership in spring 2018. So far Stark Group has reported through HFM, a system owned and backed by the previous owner. However, as a part of the ownership transfer, HFM will cease to work already from November 2018, leaving Stark Group with no reporting system in place.
The mission is clear, in less than 2 months a consolidation and reporting solutions needs to be built from scratch and implemented.
Besides battling an extreme time pressure, the solution must also be able to support Stark Group’s future needs, as they have become a standalone group.
The Winning Team is Brought Together
Stark Group gets a new CFO Sisse Fjelsted Rasmussen, and with her she brings Martin Enevold Jensen. The two financiers, who know each other through many years, create a strong team with Stark. The last team player joins in on the mission in October.
Wiesberg was chosen to implement and integrate the solution Integration & Consolidation by Wiesberg.
A solution built on IBM Cognos Controller among other software. The decision to go with Integration & Consolidation by Wiesberg was based on Sisse’s and Martin’s good experiences with the software, the solution and consultancy firm Wiesberg.
“A condition for us to be able to reach our goal: to build a new financial system and getting it up and running in time, was partly that we use Cognos and partly that we use Wiesberg. (…) In a situation characterised by pressure and urgency, it’s important to be surrounded by people you know you can work with. Henrik Karlsgaard is pragmatic, available and gets things done fast. Parameters that were crucial in our choice of provider.” Martin Enevold Jensen, Head of Group Reporting and Controlling, Stark Group.
“Stark Group follows a fiscal year irregular from the calendar year. So, we were actually in the middle of a year end- and budget-completion, with two months of actual numbers already reported in the old HFM solution.” Martin Enevold Jensen, Head of Group Reporting and Controlling, Stark Group.
November 1st all access to the old HFM system is terminated. A rigid deadline that leaves no room for a plan b. Simply put failure is not an option.
During this busy time of year-end procedures and change of systems the Stark team and Wiesberg show great dedication and flexibility when working on the implementation, integration and adoption of Stark Group’s new consolidation and reporting solution.
Crossing the Finish Line
We finished strong. October’s numbers were reported in Wiesberg’s solution in the beginning of November. We met deadline with an efficient reporting process, a complete reporting package including monthly update of forecasts amongst others.
“All management reporting ran smoothly using the new solution already from the very first day! I don’t think there’s many people who can say that, after an implementation period of just two months.” Martin Enevold Jensen, Head of Group Reporting and Controlling, Stark Group.
The Short Story
Stark becomes a standalone group. It’s necessary to implement and integrate
a new consolidation and reporting system in just 2 months.
Integration & Consolidation by Wiesberg is implemented and integrated successfully within the time restriction.
Stark Group continuous without disruption into its new solution with
3 years of historic data, efficient consolidation and complete reporting.