The challenges of financial reporting are no problem for Olvi
The brewing company Olvi, which is listed on NASDAQ OMX Helsinki, has been working in cooperation with 3 Step IT since 2006, when it was chosen as the partner for IT equipment acquisitions and management. The service was later expanded to include other fixed assets.
The single most important reason for starting cooperation was Olvi’s need to find a more convenient solution for its financial management reporting. Olvi had several leasing partners that all had different operating and reporting practices. As a result, compiling financial management reports, and especially IFRS reports, was challenging. In practice, the reports had to be compiled by hand, which was extremely laborious and time-consuming.
3 Step IT's asset management service, and the asset register that is an essential element in the service, restored order to the confusing situation. All Olvi’s leasing equipment were merged into a single register, into which all the necessary financial and technical information was entered. According to Heli Roivainen, Olvi’s chief accountant, 3 Step IT’s service has greatly facilitated financial management work.
“Previously, compiling financial reports was something like putting together a jigsaw, since the information was scattered in various different places and in different formats. Now all the equipment is centralised in one register which also produces the reports needed by financial management in a centralised way. We no longer have to spend several days every quarter compiling leasing calculations in a spreadsheet program. At the start, setting up the asset management service demanded a lot of work from both parties, but now we can enjoy the fruits of that work,” says Roivainen happily.
Olvi leases a wide range of fixed assets from 3 Step IT. The coolers and drinks machines used in shops and restaurants, for example, come within the scope of the asset management service.
Smooth process facilitates management
Through 3 Step IT, Olvi leases and manages a wide variety of fixed assets. Olvi’s equipment service unit, which is responsible for Olvi’s coolers located in shops and the different drinks machines that are supplied to restaurants, is the biggest user of the leasing services. Katja Ruhanen, who heads up the equipment service unit, says that 3 Step IT’s asset management service is a great benefit to them as well.
“With the help of 3 Step IT, we have been able to make equipment acquisition and management processes more efficient. For example, checking and approving order confirmations is managed easily using the asset register with just the push of a few buttons. In addition, the register offers a lot more detailed information on the equipment than was previously available. Previously, more work time was spent looking for information and making enquiries from various sources. Now the information is available easily and efficiently from one place, and what's more, in a view specifically tailored for each user,” says Ruhanen.
3 Step IT enters the information needed by the customer on the equipment and contracts into the asset register, which reduces the customer’s workload still further. Olvi already has a high regard for 3 Step IT’s customer service. According to Ruhanen and Roivainen, 3 Step IT’s contact individuals have always been available when required and have supported the management work. There have been no changes in customer service advisers, so they are familiar, which has been considered an important issue among Olvi employees.