When Bergs Timber Group in 2018 acquired companies in the Baltics, their turnover increased by more than 100%. In order to quickly gain control over this new group of companies and be able to manage the business, they needed an effective group reporting system and also advanced forward-looking management analyses.
"Thanks to Metapraxis Nordics' deep knowledge of financial management and their prompt support, we have much better control over the business and also improved board reporting.”
Anders Marklund, Group CFO at BERGS
The first priority was to implement an information strategy and roadmap for all divisions within the Bergs group. Once this was determined, Metapraxis Empower was used to develop and implement a group reporting and consolidation solution along with an analytics solution for board reporting.
For some of the subsidiaries, the group reporting solution would be integrated with their local financial system.
Enhanced information to several organizational levels: company management and controllers can quickly shift focus from creating reports to instead spending time on analysis, which is crucial for developing the business. Identifying bottlenecks and being able to quickly act on negative deviations enables continuous improvements. Seeing the connections between actions and results gives users a stronger experience and insight in the business.
Another positive effect is also that it is now easier to give the auditors the reports they need.
Better decision-making: the group reporting solution with Empower has proven to be very efficient in the consolidation process with internal eliminations, group journals etc. Built-in logic and key financial formulas made the data transformation fast and reliable for the creation of board reports and analyses. Immediately upon reconciliation, management reports and charts are available to all stakeholders in the business. It is now also easier to communicate with external analysts.
The Bergs Group consists of a group of independent subsidiaries that develops, produces and markets processed wood for various applications.
With many years of experience in wood and with great expertise in further processing, Bergs contributes to building a sustainable society based on renewable raw materials from sustainably managed forests in the Baltic Sea region.
The business is conducted in Sweden, Estonia, Latvia, Poland and the United Kingdom and sales are made to about 20 countries. The largest markets are Scandinavia, the Baltics, the United Kingdom and France.
Head office and group management are based in Sweden. Been listed on Nasdaq Stockholm since 1984 .