Kansallis companies automate the accounting of three groups and build their own tracking levels with Finadeck
Real estate investment and development
Kansallis Companies wanted to track their properties as the groupings they choose, not just as companies. Finadeck delivered the required functionality at scale and ahead of the promised date.
Kansallis Companies today comprise more than 20 companies in three main groups and several subgroups. The main line of business is real estate investment and development, and the groups' revenue in 2025 was around €10 million.
Three groups · over 20 companies · revenue approx. €10M (2025)
The need: track entire groupings, not just companies
The management of the Kansallis group wanted to add up individual companies and the individual accounting dimensions of different companies. This way, for example, the properties of a certain property type can be followed as chosen groupings, and compared against budget and forecast to see how the grouping is developing.
In earlier software, monthly group consolidation and the building and tracking of combinations of different accounting levels, such as net rental yield calculations, had been seen as heavy and a burden on administration. The aim was to automate these as far as possible.
The data from the separate companies' different financial management systems needed to be brought onto one platform that harmonises it. The company was also looking for software with comprehensive tools for balance sheet planning, in particular for automating fixed asset depreciation and loan interest and repayment calculations.
At the start of the cooperation negotiations, Finadeck did not yet have functionality that would have solved this need. Finadeck listened, built the functionality that mattered to the Kansallis management at scale, and brought it into production ahead of the promised date, after which the cooperation could begin.
The decisive functionality we needed was in production even ahead of the agreed schedule. That showed that Finadeck is genuinely committed to its customers' needs.
Data from three groups on one platform, eliminations automatic
Data from the separate companies' different financial management systems was brought into Finadeck right at implementation using ready-made plug & play integrations.
Most of the companies in the Kansallis group use the Procountor financial management software. Finadeck has a comprehensive integration for Procountor that is easy to switch on.
Eliminations are automated, and acquisition cost calculations and goodwill amortisation vouchers are entered into the elimination company with ease. The audit trail is transparent, and only the notes still need to be added to the financial statements: Finadeck produces the group's balance sheet, income statement, cash flow statement, statement of changes in equity and other statements automatically according to the calculation rules that have been set.
In early 2027, Finadeck's elimination functionality will be extended further, so that Finadeck also creates automatic vouchers for goodwill amortisation and for eliminating depreciation differences in the elimination company.
All in all, managing group structures and group consolidation in Finadeck has been found easy to use, well automated and logical.
Reconciliation saved significant time in month-end closes
The recently released reconciliation feature saves significant time in month-end closes: intercompany transactions are reconciled at transaction level, and any differences are found immediately instead of being investigated manually.
Support has always been available when needed from a named contact person, for example for setting up new group companies and switching on integrations. At implementation, Finadeck's support built all the defined key figures and reports ready to use, after which Kansallis Companies has managed Finadeck mostly on its own. The calculation rules of all key figures can be edited yourself, and all the statements needed can be built from the key figures.
We now manage Finadeck mostly on our own, it is effortless to edit the calculation rules and reports ourselves. The software keeps developing, and support is always available from a named contact person when needed.
Budgeting with your own drivers, rental income with exactly the parameters you want
Budgeting the result works in Finadeck with the parameters you want. In practice, rental income can be budgeted contract by contract, or by building floor area and rental income €/m² into Finadeck as budget drivers, so that the formula for the rental income account in budgets and forecasts is, for example, floor area × rental income €/m².
Creating budget scenarios and different forecasts has been important for calculating and assessing the alternative ways the financial position may develop. Finadeck compiles the budgets and forecasts of accounting dimensions to company level automatically and makes it possible to calculate the companies' budget scenarios and forecasts all the way up to group level.
If needed, Finadeck can also conveniently be set up with accounting levels that differ from the group structure, combining particular companies and the individual accounting dimensions of particular companies, exactly the need that the cooperation originally started from.
Balance sheet planning became more precise with fixed asset and loan calculators
Balance sheet budgeting and forecasting have become significantly more streamlined and more precise thanks to Finadeck's built-in fixed asset and loan calculators. Depreciation, loan interest and repayments are taken into account automatically in budgets and forecasts.
Investment planning has also become easier, as Finadeck has comprehensive tools for investment planning, a key part of financial planning for a real estate investor.
In addition, Finadeck enables pro forma calculation for inorganically growing groups: a separate environment can be set up for a company being acquired, its historical and budget data read in, and the effect of the acquisition on key figures modelled in a pro forma group environment, for example from the perspective of loan covenants.
Reporting and group financial statements: hours instead of weeks
The groupings you want are conveniently followed from a helicopter perspective in different group sheet reports. All the financial reports the management and board need were built turnkey during onboarding training, after which the reports have been edited and added mostly on the company's own.
The group financial statements book built into Finadeck has been especially useful: the groups' financial statements can be compiled in hours instead of weeks.
All reports can be sent automatically by email to the people you choose, for example always on a specific date, which has streamlined reporting. In addition, all key people have Finadeck credentials so that they can view and drill down into the reports directly in the system, additional users do not bring additional costs. The PDF layout of the reports has also been useful.
Group financial statements now take hours instead of weeks, and reporting has become significantly more streamlined. I can recommend Finadeck to groups that value automated group accounting and a developing partner.
Kansallis companies & Finadeck, in a nutshell
Kansallis Companies is a family-owned real estate investment and development group that owns commercial, office and residential properties as well as protected heritage buildings.
Challenges
- Monthly group accounting for three groups was heavy
- Building combinations of different accounting levels burdened administration
- Data in several different financial management systems
- Depreciation, loan and investment calculations in Excel
Solution
- Three groups and over 20 companies on one platform
- Plug & play integrations to the separate companies' software
- Automated eliminations
- Fixed asset, loan and investment calculators
- Custom accounting levels across companies and accounting dimensions
Results
- Group financial statements in hours instead of weeks
- Month-end close sped up with the reconciliation feature
- Property-type tracking against budget and forecast
- Balance sheet forecasting became more precise and streamlined
- Reports are distributed automatically to management and the board
