Max Matthiessen
Four people in Max Matthiessen’s finance department work on reconciliations. Reconciliation work for monthly and quarterly closings has traditionally been handled with paper, binders and spreadsheets.
The company
Founded in 1889, Max Matthiessen has 450 employees in 27 locations specializing in insurance, pensions and investment-linked insurance. The company has extensive experience helping employers and individuals with procurement, analysis, packaging, advice and administration of the market’s leading savings and insurance solutions.
Challenge
Four people in Max Matthiessen’s finance department work on reconciliations. For monthly and quarterly closings, this work had traditionally been handled with paper, binders and spreadsheets. Employees were spread out, all information was managed on paper, in binders and Excel sheets, and signing took increasingly more time. It also became harder to maintain an overall view of how much had been reconciled.
Found the solution for efficient financial closings
At a customer day hosted by Systemstöd, Max Matthiessen first encountered Adra’s BALANCER software. After a short meeting, it decided to choose BALANCER for more efficient reconciliation work.
Installing Adra BALANCER
Installation, or rather configuration, of BALANCER integrated with Jeeves Financials for three Max Matthiessen companies took one day. Before configuration, Max Matthiessen prepared information on the charts of accounts used by the three companies.
The software is delivered as a service and is entirely web-based, so no local installation is needed. Employees can access BALANCER with an internet connection and their PC or Mac. Everyone in Max Matthiessen’s finance department has extensive reconciliation experience, and as BALANCER is self-explanatory, no training was provided. They simply started using BALANCER immediately after installation.
Alongside Max Matthiessen’s own BALANCER users, the company’s auditors use the software. It provides valued support for both auditors and staff. They no longer need to email large amounts of documentation and different versions of Excel sheets. They can now discuss the same information and supporting material directly, while auditors can independently prepare their work before meetings.
Experiences with Adra BALANCER
Max Matthiessen’s main experiences after six months of using BALANCER are:
– Less paper handling, as everything is available directly on users’ screens without searching through papers and binders.
– A better overview of the reconciliation process provides confidence about what is complete and what still needs reconciling.
– More enjoyable reconciliation work that is also environmentally friendly and modern.
– More complete reconciliations than before, with all information saved and immediately available at the touch of a button.
– Nothing is missed in the reconciliation process.
– Signing takes less time and can be done at any time, from any location.
– Simpler auditing, without emailing large amounts of information, and with auditors able to prepare work from their own office.
Lisa Balkhag, Accounting Manager, Max Matthiessen
“Unfortunately, I think many finance departments have worked on reconciliations in the same traditional way for a long time. BALANCER provides a more enjoyable, modern, efficient and environmentally friendly way to handle the company’s reconciliation work.”