Quick and flexible treasury actions - Case Adapteo.
Adapteo is a leading Northern European company for adaptable buildings and it domiciled in Finland. The company was established through a partial demerger from Cramo in the summer of 2019. Adapteo builds, rents out and sells buildings for example to be used as schools, daycare centres, offices as well as for elderly care and events for both temporary and permanent needs. All the buildings are based on a modular and circular construction concept and they can be adapted when user needs change. The majority of Adapteo ́s customers can be found in the public sector. Adapteo has been listed on the Stockholm Stock Exchange, where trading on the company’s stocks began on July 1 , 2019. Adapteo’s revenue for 2019 was 216 million euros.
Adapteo was born as a result of Cramo’s partial demerger. The director of the Treasury and Risk Management unit, Jesse Räisänen, says that creating the treasury unit began in the spring of 2019. The goal was for Adapteo to demerge from Cramo in the beginning of July. Many of the things in the treasury unit were inherited from Cramo. ”In the beginning there wasn’t even a company for which a treasury system was searched for. This enabled reconstruction, although many procedures and models came from the old company.”
The treasury software was put out to tender between four service providers. Some of the contacts came through references, some were contacted by Adapteo. ZenTreasury proceeded to be included as one of the two best alternatives. According to Jesse Räisänen, the most important reasons for the final decision were the flexibility of the system, the accessibility and the speed of implementation. ”Our timetable was quite ambitious and we had to set everything up in a few months. With the help of ZenTreasury’s system we were able to avoid building a host-to-host connection, which is known for being time-consuming. Furthermore, the implementation of the new ERP system was still unfinished in the corporation during the demerger phase, so finding an easy-to-use treasury software with fast implementation was a bonus.”
The start of the project, the implementation as well as the communication were realized superbly. Proper preparations made sure that implementing the system was easy and quick. Adapteo’s task was to learn how to use the software in practice, for example how to enter contracts in the system.
The system supports development
Implementing the system has created a possibility to develop the treasury action of the company now and given a good basis for future development. Räisänen says that having all the information in one place saves time and creates a feeling of safety. There haven’t been any problems and so far it has been easy to take care of our needs. ”After about a year we have reached the situation where we can take the next step in developing the system. All in all we are pleased that ZenTreasury has been able to provide us with the service we were looking for.”
Cloud computing enables telecommuting
Adapteo set out to develop its operations without the structures or pressures of an old company. It was possible to conduct the development work quickly and simply without any unnecessary bureaucracy. Communication with ZenTreasury has been easy. ”We took a risk by choosing a small company as our service provider. So far our needs have been met really well. You can see that ZenTreasury wants to develop their client relationships. The answers are quick and the threshold for communication is low. We have also noticed that the cloud computing works like it’s meant to work and we are able to take care of things remotely”, Räisänen explains. The possibility for telecommuting offers flexibility that is needed - especially during these times.
To learn more about Adapteo please visit https://www.adapteogroup.com