YIT is the largest Finnish and significant North European construction company.
The company develops and builds apartments, business premises and entire areas. YIT also specialises in demanding infrastructure construction and paving.
- Annual combined revenue in 2017: EUR 3.8 billion
- Markets: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland.
- Number of employees: 10 000
- ERP system: SAP
“We wanted browsing of vouchers and attachments of accounting journals to be easier”
Handling and archiving attachments were causes of concern in YIT Construction Ltd’s financial management. “Our accounting is project-based, so we must continuously search for attachments from the early phases of the projects”, says YIT Construction Ltd’s controller Marjut Karsimus. All the manual work of printing and storing hard copies of every journal and supporting evidence into archives had become inefficient and slow. It also raised concerns about transparency of project finance management.
The company needed faster and more reliable way to handle and archive accounting journals. All the documents had to be archived digitally and easy to access on demand for either daily accounting or audit necessities.
“It was one of the key criteria. We wanted browsing of vouchers and attachments of accounting journals to be easier. It used to cause a lot of manual work before”, Karsimus concludes.
“Aico Journals solution has speeded up our processes considerably. We wouldn’t switch back to the old system anymore”
Aico Journals solution was integrated into the SAP ERP system used by YIT in December 2014. It ensured efficient workflow of creating, handling and archiving accounting journals in the company. The deployment of Aico journals didn’t affect the financial management processes. Instead, it was replicated into the system so that it wouldn’t distract work of finance.
“Aico Journals has speeded up our processes considerably. Earlier, all journals were in paper format, they were filed, and vouchers were attached to them as soon as we got them. Now all journals are in electronic format, always easily accessible and above all, attachments can be found in the same location. Possibility to browse electronic journals makes all the difference. We wouldn’t switch back to the old system anymore.”
“We have been very pleased. Creating journals from scratch or based on a template is extremely handy, and so is searching for old journals from the overall summary view. In fact, we haven’t even taken the in-built recurring journals feature into use because creating journals is so easy. From the end users’ point of view, the software was easy to learn and help was always quickly available. SAP uses an Excel-based journal template that resembles the Aico Journals version.”
At YIT, the deployment project for Aico Journals was carried out in approximately one month. Typically, deployment projects take 2-3 months. “The deployment went efficiently. We had strict schedule requirements and Aico was able to meet them”, says Hanne Simonen who ran the project at YIT. “The learning curve was steep and Aico Journals has been easy to use from the beginning. Those few times when we have needed Aico’s support, the help desk has responded quickly”, Karsimus says.
YIT has approximately 160 Aico Journals end users. Most of them have been aboard already since the testing phase, and the main users haven’t had to train them separately. Some new users have been added since then, but training them hasn’t been an issue.
“The system is so easy to use. Everyone has been able to learn the key functions without effort.”
About Aico Journals
Aico Journals is a software solution designed purposefully for accounting and finance professionals. Our solution eliminates slow, arduous and complex manual work to speed up journal entry management by up to 50%.
Book a 15 minute introductory demo session with our team to see the solution in action!
The key benefits of Aico Journals solution are:
Aico guarantees real time validation of journal entry data against business rules in ERP systems, eliminating all the hassle with incorrect values and combinations.
From creation to posting and approving, journals are processed with smart and agile Aico software workflow. Manual and low value tasks are automated allowing accountants to focus on productive and high value tasks.
By eliminating slow manual tasks, improving workflow in the team and connecting all your ERP systems in real-time, Aico has proven that journal entries can be done up to 50% faster
Control & Auditability
Dashboard overview of all the processes, completed and to-do tasks as well as responsibilities puts you in charge of accounting team in real-time. And drilling into any transaction to review journal supporting documentation ensures your processes are audit ready any time.