Toyota Financial Services Streamlines and Digitizes Financial Close Process with Adra® by Trintech
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About Toyota Financial Services
Toyota Financial Services Corporation (TFSC), wholly owned by Toyota Motor Corporation (TMC), was established in July 2000 as a holding company of Toyota’s financial subsidiaries worldwide and offers financial products and services to support Toyota vehicle sales such us Toyota or Lexus in more than 30 countries/ locations. In Sweden Toyota finances around 39.000 vehicle contracts with a value of SEK3.9 billion.
When I saw Adra Balancer I understood its unique advantage and how much effort it could save us. We knew our monthly financial reconciliation and closing routines were going to be improved and well defined with the solution.”
Business Drivers to Automate
With the need to move to an automated solution, Toyota Financial Services in Sweden knew they needed to move beyond the capabilities of spreadsheets. “I was very tired of using Excel as a professional tool for established processes,” said Robert Erkers, Finance Manager at Toyota Financial Services in Sweden. “It is good as an ad hoc solution but useless for established processes.”
After evaluating a few solutions, Toyota Financial Services decided to implement Adra. Toyota Financial Services is using Adra Balancer for the month-end close process, to gain control over the entire process with full visibility, a complete overview and greater accuracy. “We no longer have to use binders to archive our financial data because the solution archives everything electronically,” continued Erkers. “It has also simplified our working routines due to the different permission levels that the solution offers.”
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