On-demand webinar: Financial Close Transformation story of Sanoma
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Sanoma is a company in stage of Financial transformation, having completed significant acquisitions and divestments in the recent past. As a result of these changes, the finance system landscape within the group also changed, posing new challenges for accounting operations.
“We have been acquiring new companies resulting in a more fragmented finance system landscape. Our financial close software was showing limitations in supporting our accounting processes across our countries. And while efforts to harmonize our finance processes and systems continue, most companies within the Sanoma Learning business, in particular, continue to operate on different SAP instances. We needed a solution to control and manage our financial close process effectively,” says Ralph Wieskamp, Head of Accounting Services at Sanoma.
Financial Close Transformation of Sanoma
After a thorough evaluation process, the Sanoma team implemented Aico’s financial close automation and process management software across the group. The project’s scope included the entire suite of applications – account reconciliation, journal entries, closing task management and manual invoicing. “Despite recent and ongoing SAP roll-outs, we still have multiple instances of the ERP in use for different companies. Aico, with its real-time integration to SAP, helps us bridge that gap and ensures we work in a harmonized way across these entities while providing central control and visibility over the closing process. This increased visibility also enables us to identify further improvement potential within the closing process continuously”.
Sanoma is a stock-listed, growing learning and front running multi-channel media company that aims to lead the industry development. Sanoma operates in eleven European countries and employs close to 5,100 professionals. In 2020, net sales totalled more than 1 billion EUR.
Ralph Wieskamp, Head of Accounting Services at Sanoma
Ralph is an experienced finance professional, having led global finance teams and shared service operations for more than 15 years. Ralph has a proven record in the process and organisational development, focusing on simplification and standardization while always ensuring quality and compliance.