HANZA Gains Greater Visibility and Control Over Financial Close Process with Adra® by Trintech
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Business Drivers to Automate
In 2019, HANZA entered the Sweden stock market and needed a solution to help improve their internal controls. At the time, they struggled with a very manual approach using excel and word files to manage and document their monthly close process. HANZA was founded in 2008 and today has sales exceeding SEK 2 billion, with operations in Sweden, Germany, Finland, Estonia, Poland, the Czech Republic and China.
After looking into the solution further, I found that Adra was very cost effective and would help solve the challenge we were facing.”
Why Adra® by Trintech
“I began to research financial close solutions and came across someone who was extremely satisfied with the Adra solution,” said Torstensson. “After looking into the solution further, I found that Adra was very costeffective and would help solve the challenge we were facing.”
HANZA decided to implement Adra Balancer to automate and document their balance sheet reconciliations. “Everyone at the Shared Service Center was very pleased with the solution and found it very easy to use – much easier than having to manually print out documents and insert them into a binder each month,” continued Torstensson.
After seeing much success using Adra Balancer for their Swedish companies, Torstensson recommended that they roll out the Adra solution to their other entities.
We used a consultant to help us with the first implementation, but I then was able to implement to our other entities – That’s how easy Adra is to implement and use.”
Solution in Action
We started implementing Adra Balancer in our Estonian Shared Service Center and then about a year later we implemented the solution in our Finnish and Polish companies,” continued Torstensson. HANZA is currently using Adra Balancer to help manage and automate just under 1,400 accounts each month. “Adra allows us to group accounts together so we are really only having to prepare and approve just over 470 accounts on a monthly-basis,” said Torstensson.
Just before the COVID-19 pandemic, HANZA was also looking for a solution that could help track the status of their monthly close process, so they decided to expand the usage of Adra with Adra Task Manager (close task management solution).
HANZA has seen many benefits since implementing Adra including a reduction in time to support auditors and greater control over their processes and data. Looking ahead, HANZA has a focus on continually optimizing the functionality within Adra Balancer and Task Manager and has plans of rolling out the solution to additional entities.
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