Blue Power Partners cuts the financial consolidation time from days to hours.
Blue Power Partners have cut their consolidation time from days to hours for their monthly reporting.
Blue Power Partners integrate Business Central with Konsolidator and synchronize their data effortlessly.
Blue Power Partners is a global consultancy and project development company with a dedicated focus on developing renewable energy. Blue Power Partners delivers services within Solar, Onshore Wind, Offshore Wind, Power-to-X, and Storage.
Company structure: Subsidiaries and Branches
Reporting challenges: Currencies, Compliance, & Complexity
Industry: Renewables & Environment, Consultancy
Blue Power Partners has gone from 0 to 300 employees in just 6 years and from a Danish company to a worldwide company with multiple currencies and a highly complex structure with both subsidiaries and branches. As a fast-growing company, it needed to transform its entire reporting process to ensure one entry, one output.
"Founders and the team understand the finance perspective - instead of being in dialogue with it people, you talk to finance people. They quite quickly understand the complexity of our business. They know how it is to be in our chair and doing our tasks."
Blue Power Partners began a free trial of Konsolidator to test its features and benefits. During the trial, they created group accounts, tried the system, and saw rapid improvements in crucial areas:
Blue Power Partners cut down financial consolidation time from days to hours, freeing up their team for essential tasks and enhancing process control.
Compliance and Audit Trails
Konsolidator offers a full view of past financial adjustments and consolidations, ensuring compliance with regulations, simplifying audits, and reducing errors.
“One input, one output” summarizes Blue Power Partners’ simplified consolidation process with Konsolidator. They enter data into a single template, and it generates a unified output, eliminating the need for handling multiple Excel sheets, trial balances, and currencies.
Integration with ERP System
Blue Power Partners uses Business Central, which integrates with Konsolidator. They sync their trial balances to Konsolidator and make data processing as simple as can be.
“I would recommend Konsolidator every day. Of course, if you have two or three companies, yes, Excel could manage that. But as long as you are a company like ours: we have at the moment 11 companies, some of them are branches though. But if you have more than 2-3 companies, I would definitely recommend you use Konsolidator. I don’t have to manage all the different Excel sheet, trial balances, and currencies. It is just easing out everything.“
In today’s fast-paced business environment, financial data management can be a challenging task, especially when dealing with:
The company simply needed to enhance its group reporting process.
They chose Konsolidator to put an end to their Excel consolidation.
With offices and subsidiaries across the globe, from Germany and Australia to India and the USA, their financial landscape is intricate and diverse. Excel spreadsheets were no longer sufficient, and the risk of errors and inefficiencies was growing.