Infinitas Learning is one of Europe's leading providers of learning materials and known for brands such as Noordhoff. When the international company wants to move to a new consolidation solution, it takes a full-service approach. With Smart Financial Management, licensing, hosting, implementation and management are handled from a single point of contact.
Moving to new consolidation solution
The switch to Smart Financial Management's consolidation software was prompted by a practical reason, explains Nillus Voermans, Group Controller at Infinitas Learning. "For the consolidation package we used before, the support from the software vendor expired. So we had to move to something else."
Infinitas Learning leads the way within Europe as a publisher of innovative learning materials, both in book form and online. Noordhoff, the largest educational publisher in the Netherlands, is one of the company's well-known brands. Other well-known brands include Liber in Sweden and Plantyn in Belgium.
Consolidation Software from Smart Financial Management
Infinitas Learning takes a full-service approach with a Smart Financial Management solution. "With Smart Financial Management, we provide everything you need to run a Performance Management solution," says Gert-Jan van den Berg, closely involved in the project as a consultant at Finext. "Think implementation, but also licensing, hosting and management."
Finext and Swap Support
The solution was recently developed by Finext and its sister organization Swap Support to make Performance Management solutions accessible to a broad group of companies. The combined offering of licensing, implementation, hosting and management for a fixed monthly fee per user makes this approach unique.
Consolidation Software with the character of SAAS solution
Because the licenses for SAP BPC also fall within the Smart Financial Management solution, the product takes on the character of a SaaS solution. An important consideration for Infinitas Learning: "We were keen to have a SaaS product, which fits with our vision to use SaaS as much as possible," says Nillus.
"The generic knowledge of our internal IT departments probably would not have resulted in the level of service we wanted."
Although this form of consolidation software does have the benefits of a SaaS solution, officially it is not. "It's a regular product that runs on Swap Support's servers. Sometimes that does require extra steps around access," Nillus explains. "The alternative is an in-house server. Swap Support, however, has the substantive knowledge of the product and is therefore able to solve problems quickly and in a focused manner. The generic knowledge of our internal IT departments would probably not have resulted in the level of service we wanted." A true SaaS solution is also often less flexible. Gert-Jan: "In a cloud solution, you often have to stick more to the standards and can make fewer adjustments than in an on-premise variant with hosting at Swap Support."
Careful selection of consolidation software
The process starts with a careful tool selection guided by Finext. This shows that this form of SAP BPC is the best solution for Infinitas Learning. Nillus: "In my personal view, a selection process is a good investment, especially when you see what a selection process costs relative to what could potentially go wrong. We spend a lot of money and time over the next 10 years on the tool we choose." Potential improvements around the consolidation process are also identified at the beginning of the process. "Our main goal was to be able to move forward as we always have; the scope for using the tool did not change. At the same time, we did want to use the switch as an opportunity to put things in order," says Nillus. For example, Equity Pick-Up (EPU) administration is now fully facilitated. Cash flow calculation is also being expanded. "By being more and more finely tuned with that, we are bringing up the quality of the numbers," Nillus says.
A template for a flying start
The implementation uses the template from the Smart Financial Management solution as the basis for getting a jump start. "This template is based on best practices and speeds up the implementation. It allows us to efficiently set up the consolidation, Equity Pick-Up and automatic postings between the p&l and balance sheet," explains Gert-Jan. At Infinitas Learning, several additions were made to this template to set up additional requirements.
"This tool is much more accessible to the end user, allowing everyone to better understand how the numbers flow through the tool."
Nillus is positive about his choice of this consolidation software and the approach. Nillus is also enthusiastic about the results of the new solution. "It is flexible and dynamic, allowing us to turn the knobs on all sides. The fact that we can do that ourselves is a great step forward. Before, the system was a black box, which is not desirable. This tool is much more accessible to the end user, allowing everyone to better understand how the numbers flow through the tool."
Pragmatic and solution-oriented
The organization has been working with Finext and Swap Support for years. "Finext and Swap Support work pragmatically and solution-oriented. There is no rigid adherence to the plan, but rather a search for a solution to achieve the end goal. This is done in a professional but informal manner. A certain form of professionalism is important at times, but when it's not necessary, we get along nicely. That is the breeding ground for good cooperation."
Alternative to consolidating with regular SAP
Nillus thinks the Smart Financial Management approach around SAP BPC is an excellent alternative to regular SAP BPC software. "I would recommend it to anyone. We could never have done it ourselves, but desperately needed the knowledge and expertise of Finext and Swap Support. We have more insight into the machine, can report better and make changes more easily. We are now closer to the ball, so more comes out of it."
