Officenter automates financial consolidation

About Officenter

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Officenter is a leading provider of business centers and flexible workplace solutions for entrepreneurs, freelancers and growing companies. With locations across multiple regions, Officenter serves a wide range of customers, from startups to established companies.

Financial Reporting Challenges

With the growth of Officenter, the complexity of financial administration also increased. Each branch and entity had to provide its financial details and accounts, which led to a large number of separate files. This fragmented approach made the monthly and annual consolidation of financial data time-consuming and error-prone. In order to support further growth and improve decision-making, Officenter looked for a scalable and efficient solution.

Manual Excel processes

Previously, all financial data from the Officenter group's more than 30 companies were manually collected and managed in Excel. This was not only labour-intensive, but also susceptible to human error. The consolidation of the figures often required several rounds of corrections, making timely reports a constant challenge.

Complex consolidation structure

• 30+ companies, each with their own financial administration.

• Time-consuming coordination between entities.

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Consequences

• Inefficient workflow: A lot of time was lost collecting, copying, and merging data in Excel.

• High error sensitivity: Manual edits resulted in incorrect numbers and duplication of work.

• Delayed decision making: Due to the long consolidation period, managers did not always have a timely insight into the current financial situation.

The Solution: InsightData Finance App

To address this challenge, Officenter implemented the InsightData Finance App. This software platform focuses on automating accounting processes, real-time data insight and centralizing financial information.

The financial processes and reporting needs were identified and close cooperation was established between the Officenter management, the financial department and the InsightData Solution Architect.

“Thanks to the InsightData Finance App, we have not only greatly accelerated the consolidation of all our companies, but also significantly improved the quality of our financial reports. We now have real-time insight, allowing us to make adjustments faster and more accurately.” Koen Batsleer, CFO

Existing Excel files and accounting packages, including Adsolute, of all companies were linked to the Finance App. Real-time links and automations made manual input a thing of the past.

Employees received training and manuals to use the new system efficiently. The implementation team thoroughly tested the output and validity of the data before the system went live.

Results and benefits

Faster consolidation

Thanks to automated data flows, the time for consolidation has been greatly reduced. Where it used to take days to merge Excel sheets, management now gets an up-to-date overview much faster.

Fewer mistakes

Manual input and copying actions are completely a thing of the past, resulting in a drastic reduction in human error. Even incorrectly booked data is now picked up more quickly.

Real-time insight

Officenter's management can consult the financial status of all companies at any time. This leads to faster and better informed decisions.

Scalability

The Finance App grows with the organization. New locations and companies can easily be added without major changes to the process.

Cost savings

By processing data more efficiently and limiting errors, administrative costs are reduced. In addition, less time is spent on correction work, allowing employees to focus on tasks with higher added value.

Conclusion

Officenter's move to the InsightData Finance App has profoundly transformed the way financial data is managed and reported. By consolidating all companies into one centralized and automated platform, Officenter now has an up-to-date and accurate view of the finances. This directly contributes to more efficient decision-making and better management of the organization. Koen Batsleer from Officenter: “Thanks to the InsightData Finance App, we have not only greatly accelerated the consolidation of all our companies, but also significantly improved the quality of our financial reports. We now have real-time insight, allowing us to make adjustments faster and more accurately.”

For organizations facing the same challenges — such as complex, manual consolidations and time-consuming Excel processes — Officenter's experience illustrates how a smart automation tool can not only save time and costs, but also significantly improve the reliability of financial reports.

Officenter continues to innovate and expand, and thanks to the implementation of the InsightData Finance App, the company is ready for further growth and new challenges in the future.