Founded in 2000, Corporater is a global software house. The company develops and delivers an award-winning Corporate Performance Management (CPM) Solution, recently featured in Gartner’s Magic Quadrant. From one location in Norway, Corporater has grown to 11 offices on five continents.
We sat down with CFO Eline Flacké to discuss how Xledger transformed Corporater.
Xledger: Let’s start with what led you to look for a new ERP solution?
Eline Flacké: We were a growing company and had a strong need to modernize and simplify the way we work. Previously, we worked on a number of manual processes, which took too much time. In addition, you become very vulnerable when tasks are handled manually. My requirement for the suppliers was that I would never see a paper again .
X: How did you end up choosing Xledger?
EF: We had a list of six relevant suppliers. Eventually we were left with two.
Xledger won all of the 12 points we had set in our requirements for system and supplier. It was important to us that the system could be used in all our locations, with local customizations. Furthermore, we had requirements that the processes for accounting, banking and pay should be streamlined and that the project managers got a full overview of hours and project finances. Last, but not least, we had the requirement that the system be flexible with regard to growth and change of company structure. There, Xledger has a great advantage with its hierarchy structure. It is very easy to connect to new companies and scale the usage up and down as needed.
When choosing Xledger we went from an almost 100% manual system to a system that is as automated as it can get. Now we are on a cloud-based standard solution, and always have the latest updated version, without spending time or resources on it internally.
X: What benefits have you seen from Xledger?
EF: Corporater is constantly evolving. It is extremely important for us to be able to change departmental structure and layout without losing history. This suits Xledger very well. We now use one and the same ERP system for financial management in 6 of 11 countries and the same system for hourly registration and project follow-up in all countries. KPMG is our accountant central to the countries where we have fully implemented Xledger. They work in Xledger and keep accounts for all our companies, regardless of location. At the same time, we use KPMG’s local resources that have expertise in pay, reporting, tax, and tax rules in their country.
Xledger is used in the USA, Sweden, Denmark, India and the Middle East. Together with Xledger, KPMG and SR Bank, we have obtained automatic remittance with the banks in 4 of 6 of these countries and expect to get it in the remaining term.
Efficiency is vastly improved. We can utilize the resources internally and with the accountant, KPMG, in a completely different way than before. Our controllers are free to work with business support and release the administrative work. If we double our turnover, we do not necessarily need to employ more people. When all economic data is available in one and the same system, we achieve transparency in all areas, which reduces the need for extra control. Last-updated data from group level and down to each project is always available. Xledger offers open API and we have integrated the ERP system with our own management system, Corporater. With one keystroke, we have a full overview of the “state of the kingdom” with data in real time.
X: Thank you for taking the time.