BoMer

The right vendor is key to profitability for BoMer

Acknowledging that the real estate and property market is heading towards better times, Britt Søreide, Chief Financial Officer at BoMer AS, understood that a modern finance platform could help the company stay agile: “We’ll be closer to the projects and quick to take measures where we have deviations. For us, it’s about trust in the market and ensuring that all suppliers get their share of the pie.” 

She continued to explain why BoMer chose Xledger NO as its new finance system. “We’re preparing for better times, and it’s about gaining better control over profitability and master data.” 

Xledger provides control over your data

With Xledger, BoMer has a financial system that makes controlling data easy. Søreide noted that “Xledger is built for data reuse across tasks. It makes it easy to think about master data and is a good basis for creating the framework BoMer needs to professionalise accounting work.” She explained this further: “With Xledger, we get one system for accounting and project finance. This means that the data is automatically reused across the different parts of the system.” 

“Xledger is fast and agile, and made it possible to move our first companies to the cloud in just two months. That’s far faster than we would have been able to do with other providers.” 

With her considerable experience in accounting and finance, Søreide had clear requirements for a new system, one of which was to gain control over the data. These requirements made Xledger the perfect fit, particularly in two key areas: 

• Ease of use: BoMer can work across companies, regardless of where staff are in the system. 
• Fresh insights: Users can access a quick overview of liquidity, accounts receivable, and accounts payable. All information is updated with the latest changes directly from the bank. 

The system’s visibility “gives us full control over liquidity and allows us to quickly answer questions from owners and management. Also, it allows us to drill down in each of our 60 companies.” 

Xledger ensures project profitability

As housing development accelerates, Søreide envisions that Xledger – and specifically the project module – will lay the foundation for better control over project finances.  

“We have to be close and fast enough to our numbers to ensure that everyone gets their share of the pie. It is easy for the margins that have been included in the calculations to be eaten up.”  

Looking towards the future, Søreide is keen for BoMer’s project managers to adopt Xledger, stating, “As an economist, I think Xledger is super simple. Now I’m looking forward to getting the project managers to see how fun Xledger is.”

Do you work in property development? Get in touch with our expert consultants to learn how Xledger can help scale your organisation.