How Söderberg & Partners streamlined group accounting, IFRS reporting and business performance management with Finadeck
Finance, insurance and investment8 min read
- ~€15MRevenue in Finland 2025
- 100+Specialists in Finland
- 4,000+Insurance clients
- 10+Offices in Finland
Söderberg & Partners is one of the largest insurance brokerage firms in the Nordics. In Finland the firm manages the insurance and claims matters of more than 4,000 companies and public organisations. The Finnish group structure consists of a parent company along with several subsidiaries and associate companies, and the structure evolves continuously through acquisitions and mergers.
A growing group structure, tightening IFRS reporting requirements and the need for up-to-date management reporting created demand for a modern group accounting system. Söderberg & Partners chose Finadeck to unify group consolidation, IFRS reporting, BI reporting, budgeting, forecasting and financial steering processes into a single cloud-based platform.
Finadeck serves as the group's centralised platform for financial steering and corporate performance management (CPM), enabling the group to manage reporting, analytics, budgeting and scenario planning from the same data model.
Starting point: group reporting needed flexibility and independence
Before adopting Finadeck, Söderberg & Partners used another software designed for group accounting and reporting. In practice, the main challenge was the limited ability to modify reports and KPIs.
As the group structure evolved, reporting could not be developed with sufficient agility without support from the software vendor. Every new report, KPI or structural change essentially required contacting customer support.
The finance organisation needed a modern group accounting and CPM (Corporate Performance Management) software with which:
- group accounting would be automated
- IFRS reporting could be managed from a single system
- financial and operational business data could be combined easily
- reports and KPIs could be modified independently
- budgeting and rolling forecasts would work in the same environment
- group management would gain an up-to-date view of the business
Since adopting Finadeck, the finance team maintains and develops group reporting independently, without depending on the vendor's support channels. What previously took days to build now takes hours, at best, minutes.
Versatile output formats such as Excel and PDF also stood out during the evaluation, and the quality of the PDF outputs in particular has received praise. Automated report distribution frees the finance team's time for more developmental work.
Usability and flexibility stood out during evaluation
During the evaluation, Finadeck convinced the team in particular with the clarity and logical structure of its user interface. Even though the solution covers group accounting, IFRS consolidation, budgeting, forecasting and BI analytics extensively, the whole was perceived as easy to adopt in daily use.
Söderberg & Partners' needs were reviewed in detail already at the early stage of the project. In addition to current needs, many integrations and capabilities potentially needed in the future were already available in Finadeck, which accelerated the rollout significantly.
Agreed development steps were delivered on schedule, which laid a strong foundation for long-term cooperation.
Despite its breadth, Finadeck's user interface is clear and logically understandable, we can modify reports and KPIs ourselves as the group structure changes.
Before vs. After: group reporting before and after Finadeck
| Before Finadeck | After Finadeck |
|---|---|
| Building reports was slow | Independent and fast report building |
| Report changes required vendor support | Finance team manages reports independently |
| Data scattered across Excel and various systems | One centralised group accounting and financial steering platform |
| Manual eliminations and reconciliations | Automated elimination of intercompany transactions |
| Slow group reporting | More real-time management reporting |
| Limited drill-down capabilities | Drill-down analytics from group level to transaction level |
Finadeck unifies group accounting, IFRS reporting, budgeting and BI reporting
Söderberg & Partners uses Finadeck for group reporting, IFRS reporting, budgeting, rolling forecast and management BI reporting.
Elimination of intercompany transactions is automated in Finadeck, which reduces manual steps in group accounting and lowers the risk of errors. The group also plans to automate notifications based on discrepancies in elimination reconciliations, supporting even more proactive reporting and financial process monitoring.
One key benefit is that all of the group's financial and operational business data resides in the same system and the same data model.
Operational business data that is only available in spreadsheet form is also brought into Finadeck via the OneDrive integration. This reduces Excel dependency and enables more real-time financial and business steering.
The solution is also used in operational management. Specialists from all group companies can be brought into the same report at company and team level. Product-level monitoring also works at the group level.
Sales management gets an up-to-date view of how specialist teams' actuals are tracking against the budget, and individual specialists see the impact of their own work on the whole through reports sent automatically by email.
The same reports follow through to sales one-to-ones, forecast updates and management team presentations, for example, the number of new clients and financial data can be presented from one and the same view.
In daily work the solution shows up above all as clarity and independence: data can be viewed from a consolidated perspective and combinations can be flexibly composed. In addition:
- unlimited user count enables individual accounts for every specialist
- automated report distribution also serves as a reminder
- granular user permissions ensure each user only sees data within their own responsibility area
Group management can track:
- Product salesIn euros and units
- Budget executionPlanned vs. actual
- Forecast evolutionRolling forecast view
- Specialist team performanceCompany and team level
- Differences between companiesGroup-wide comparison
- Group KPIsFrom a single view
Drill-down and drill-through capabilities allow users to navigate from the group level all the way to individual companies' cost centres and transaction level.
A multi-level view of group finances
Finadeck's group reporting system accounts for all levels of group accounting and enables monitoring from several perspectives, including:
- 01The group as a whole
- 02Individual companies at group level
- 03A single company as a whole
- 04Cost centres across company boundaries
Multi-level group reporting gives management a genuinely data-driven view of the entire group's performance.
IFRS reporting and automated associate company accounting in one system
Söderberg & Partners uses Finadeck for IFRS reporting and group accounting.
A sub-group uses automated associate company accounting, with Finadeck generating monthly automated elimination entries for the associate companies' impact on the group. The solution automates critical steps in group accounting and significantly reduces manual work.
In the future, minority interest accounting can also be automated with Finadeck if the need arises.
Having automated associate company accounting and IFRS reporting in the same system has saved significant time in our monthly group consolidation.
Internal income statement and external data sources in one view
In addition to the official income statement and balance sheet formats, Söderberg & Partners uses Finadeck's internal income statement formats and group-specific KPIs. KPIs are built with the built-in formula tool without separate programming, enabling continuous development of reporting as the business changes.
Data can also be brought into Finadeck from systems outside financial administration. Söderberg & Partners makes use of, for example, Excel files stored in OneDrive, which are linked automatically into group reporting.
This way data from various sources can be combined into a unified data model in the same BI reporting view:
- Accounting dataAccounting software
- Operational business dataOther software
- Sales dataAccounting + other software
- External Excel filesOneDrive
- Budgets and forecastsOneDrive + other software
The unified data model enables effective management reporting and deep group analytics.
Multilingual reporting supports an international group
Finadeck's user interface and documentation are available in Finnish, English and Swedish. Multilingual support has been an important capability for Söderberg & Partners, which operates as part of a broader Nordic group, a shared reporting platform makes it easier to share information and harmonise reporting processes across countries.
Continuous support for an evolving group structure
The turnkey rollout was carried out successfully and the promises were kept. Mutual communication has been immediate and smooth, and thorough user documentation has supported the day-to-day use of the system.
Finadeck's dedicated contact persons actively support building new reports, KPIs and analytics models. This allows the finance organisation to continuously develop its group reporting without heavy stand-alone projects.
The flexibility of the solution has been particularly important in situations where the group structure changes through acquisitions or business changes.
The cooperation has worked excellently from the very beginning, and trust was established straight away when promises were kept and questions were answered. Personal service together with scalability to our own business and expert sparring have made the collaboration exceptionally smooth.
Future: automating fixed asset accounting
Söderberg & Partners plans to extend the use of Finadeck to the automation of fixed asset accounting as well.
With Finadeck's new fixed asset accounting features, depreciation entries that account for depreciation differences can be generated automatically into the accounting system from fixed asset items.
Automation reduces manual work, accelerates accounting processes and improves the quality and transparency of reporting.
Frequently asked questions
What are the benefits of Finadeck for group accounting?
Finadeck automates group consolidation, eliminations, associate company accounting and IFRS reporting. All group financial data can be managed in a single system.
Is Finadeck suitable for budgeting and forecasting?
Yes. Finadeck supports budgeting, rolling forecasts, scenario planning and management-level financial steering.
Can data be imported into Finadeck from Excel?
Yes. Finadeck can integrate data from Excel, OneDrive and other business systems.
Does Finadeck support IFRS reporting?
Yes. Finadeck supports IFRS reporting, group consolidation, associate company accounting and other group accounting needs.
How does Finadeck differ from Excel-based reporting?
Finadeck centralises group accounting, BI reporting, budgeting and forecasting in one system. This reduces manual work, improves data quality and enables more real-time reporting.
Is Finadeck suitable for international groups?
Yes. Finadeck supports multilingual reporting and the IFRS and management reporting processes of international groups.
Why modern group accounting is moving toward unified CPM platforms
Growing groups need increasingly real-time visibility into financials, business performance and forecasts. Traditional Excel-based group reporting is no longer sufficient in environments where the group structure changes quickly and reporting requirements tighten.
Modern group accounting and financial steering systems bring group consolidation, IFRS reporting, budgeting, forecasting and management reporting around the same data model.
This enables:
- faster month-end closing
- more real-time management reporting
- automated eliminations
- improved data quality
- reduced Excel dependency
- more effective scenario planning
- data-driven decision making
Finadeck serves as a centralised group accounting and financial steering platform that helps groups automate financial processes and improve reporting transparency.
Finadeck: modern group accounting and financial steering software
Finadeck is a cloud-based group accounting and financial steering software that unifies group consolidation, IFRS reporting, budgeting, forecasting and BI reporting into a single solution.
The solution helps finance leaders automate reporting, reduce Excel dependency and support data-driven decision making across the entire group.
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