BioRex cinemas Oy: a strongly growing and modern cinema chain

BioRex Cinemas Oy is a profitably growing nationwide family business specializing in movie experiences with over 100 years of history. Currently, BioRex operates in twelve locations, offering a total of 48 theaters providing the perfect setting for movie experiences and successful corporate events.

BioRex employs over 130 people and had a revenue of approximately 11 million euros in 2022.

External reporting obligations and the desire to manage with data internally set requirements for reporting and forecast schedules and quality

With nationwide growth, BioRex needed to produce higher quality reporting. The reporting challenge at BioRex was that manually combining data from financial management and operations management software was taking too much time, and the possibility of human errors was becoming too great. Additionally, creating budgets and forecasts in Excel was becoming burdensome.

"We report to our partners, among other things, screening counts and ticket revenues daily. In addition to external reporting, we wanted to be able to communicate key metrics to staff on time and accurately," comments Aku Jaakkola, CEO of BioRex Cinemas Oy. Data-driven management has long been a familiar management method for BioRex, and Jaakkola believes that data-driven management has had a significant impact on staff satisfaction and retention. "We want to provide our employees with a modern employee experience in addition to a modern customer experience," Jaakkola states.

When BioRex was surveying solutions, the starting point was that financial and operational business data should be on the same reports, with automated email distribution to desired recipients. Additionally, a modern and visually clear user interface, the ability to edit KPIs and reports, and access rights restriction options were important.

BioRex has invested heavily in modern and digital solutions

BioRex has invested heavily in modern and digital solutions, and with Finadeck, it has been able to leverage operational business data and financial data more effectively to support management.

When reviewing solution options, it became clear to BioRex that the desired KPIs and reports could be built and visualized with Finadeck's built-in formula tool and report building tool. With reports built in Finadeck, BioRex has been able to monitor its business development and make necessary changes to its business strategy.

"Finadeck's user interface was modern and visually clear. Additionally, the software included the automatic report distribution functionality and necessary access rights restrictions that were essential for us," Jaakkola summarizes.

Although operational business software integration was not implemented immediately during deployment, BioRex was able to bring operational business data into Finadeck through Google Sheets integration. In addition to Google Sheets integration, data outside financial management could have been read into Finadeck via OneDrive integration.

With Finadeck's automation and functionalities, BioRex managed to save significant time and improve quality in reporting, budgeting, and forecasting processes.

The goal was to get the software up and running turnkey

"Our goal was to save time also in software implementation, so a turnkey implementation was a pleasant option for us," Jaakkola mentions.

At the beginning of the implementation process, BioRex defined what KPIs they wanted built into Finadeck and provided example templates of reports to Finadeck's onboarding support, after which the support team built all the necessary KPIs and reports for BioRex. The support team also instructed BioRex on how to edit KPIs and reports independently in Finadeck.

Once the reports were completed, automated distribution of individual location and location sheet reports as well as board reports defined by BioRex was set up for desired recipients, allowing BioRex to automate reporting to location managers and the board.

Finadeck's support team also instructed BioRex on the best practices for budgeting and forecasting, allowing location managers to enter and update their own location's budget and forecast directly in Finadeck.

"99% of what we hoped for succeeded immediately. During implementation, it also became clear that Finadeck's staff genuinely want to listen to customer needs and implement them as software functionalities through the development pipeline," Jaakkola mentions.

BioRex CEO Aku Jaakkola states that he can gladly recommend Finadeck software especially for chain-type operations and companies with multiple monitored accounting objects.