Copenhagen Merchants: From Excel frustration to monthly clarity
The case of how Copenhagen Merchants streamlined their reporting process with Konsolidator.
Full confidence
in the numbers
Standardized reporting process reduced uncertainty and manual errors
From quarterly to monthly reporting
Automation enabled monthly close across 40+ entities — previously done quarterly
The short story of Copenhagen Merchants
> Industry: Agricultural commodity brokerage
> Founded: 1977
> Company structure: 40+ entities including subsidiaries, associated groups, and split ownership
> Reporting challenges: Currencies, intercompany transactions, complex structure
> ERP Systems: Dynamics 365 Finance & Operations, Business Central
> Reporting frequency: Monthly
Copenhagen Merchants is a global group and one of the leading agri-brokers worldwide. The group has grown through two family generations and is now a dynamic company with a diverse palette of tasks and responsibilities. Today, it is spread across three continents, 25 nationalities, and 18 offices and logistics centers.
"I wouldn’t hesitate to recommend Konsolidator. If it can handle our structure, then it can handle most.”
Kenn Christensen
Finance Manager
The Challenge: With growth comes complexity in structure and numbers
“A growing organization in an Excel sheet is a challenge.” – Kenn Christensen, Finance Manager
Copenhagen Merchants’ finance function faced mounting complexity as the group expanded across industries and regions with increasing reporting requirements from leadership.. With dozens of subsidiaries and varied ownership structures, consolidation became a bottleneck, manually handled in Excel and lacking consistency.
“There were different reporting patterns. Some sent one format, others another, and then it all had to be merged into one sheet. It wasn’t a fun process, and there was no certainty around the numbers…. The reporting often ended with: ‘It won’t get any better than this.’” – Kenn Christensen, Finance Manager
Group Financial Controller Henriette Brøgger Led sitting in a chair designed by Carl Hansen & Søn
Why Copenhagen Merchants chose Konsolidator
Before switching to Konsolidator, the group relied heavily on Excel to manage their consolidation process – a method that was time-consuming, prone to manual errors, and difficult to scale as the group expanded. With subsidiaries operating across different systems and formats, gathering and standardizing financial data was a constant challenge.
As a consolidation tool transitioned from being a nice-to-have to being a need-to-have, Copenhagen Merchants deliberately sought out a partner that wasn’t too large, one where they wouldn’t feel like a small client lost in a corporate machine. Instead, they wanted a collaboration where there was room for dialogue, responsiveness, and shared development. Konsolidator offered exactly that: a focused, purpose-built solution for group consolidation that delivered clarity and flexibility without the unnecessary complexity of large ERP extensions.
”I feel it’s quite easy to get into when you know the principles and the group. So it’s quite intuitive. I really think it’s a really good tool, I’m very impressed so far, and I really think it works.” – Havar Hayri Ucak, Controller
Implementation: fast and intuitive
Despite Copenhagen Merchants’ complex group structure and legacy reporting setup, the implementation of Konsolidator was remarkably smooth. The platform’s standard framework helped the finance team move away from custom-built templates and toward a more streamlined approach.
The integration process was so seamless that it initially raised some skepticism — it felt almost too easy. As Kenn Christensen put it, “The integration was surprisingly easy. So easy that I was actually suspicious about whether it was really working.”
“Konsolidator seems curious about their customers and how they work. That makes a big difference”
Kenn Christensen
Finance Manager
The Results: Monthly reporting and reliable numbers
“We wouldn’t be able to meet our monthly reporting deadlines without Konsolidator. It would have been completely impossible.” – Kenn Christensen, Finance manager
One of the biggest changes for the finance team was the ability to move from quarterly to monthly reporting. With Konsolidator automating large parts of the process, the team can now deliver financial reports every month. This allows the group to stay relevant by making decisions based on up-to-date insights.
Scaling with the business
As the group continues to grow, so does the complexity of its financial structure. With Konsolidator’s flexibility, they found it easy to update group structures or onboard new subsidiaries without disrupting the existing setup. This scalability ensures the consolidation process can follow the group’s growth and development.
Full audit trail and faster error correction
The Intercompany module has helped the finance team quickly identify reporting errors between entities. Previously, this required a lot of effort and compromised the reliability of the numbers. Now, issues are identified and resolved early in the process.
“We now know where to look when something’s off. That wasn’t possible before.” Havar Hayri Ucak – Controller
“Earlier, when we delivered on a quarterly basis, it was with the end of the following month, so we were always looking at old things, which is super annoying.” – Kenn Christensen, Finance Manager
Simple onboarding and strong support
Implementing a new consolidation tool can be a long and complicated process, especially in a group with complex reporting needs. But due to the cloud-based and standardized software, the implementation of Konsolidator was fast and intuitive. The finance team quickly adapted to the new system, and the group found Konsolidator’s support team to be efficient and helpful in the process.
“I contacted support during a month-end close, and within an hour I got a reply. They fixed the issue the next day. That meant we could report on time.” Havar Hayri Ucak – Controller
The company’s commitment to trust now extends seamlessly into its financials.
