Industry: Manufacturing
Category: Financial Management

Dovista opened new doors by digitizing their financial process

In 2021, Dovista concluded that their finance system did not support the new management and consolidation needs that arose as the company doubled in size. Together with NTT DATA, Dovista explored how to streamline and digitalize parts of their financial closing process.

Having worked together on various projects, Dovista relied on NTT DATA as a sound and trustworthy partner

Why NTT DATA Business Solutions?

  • Having worked together on various projects, Dovista relied on NTT DATA Business Solutions as a sound and trustworthy partner
  • As this was a pioneering solution, the project was defined by a high degree of co-creation, in which NTT DATA Business Solutions had a substantial experience
  • Right from the start, NTT DATA Business Solutions was flexible and open to the ongoing  dialogue necessary to a first-mover project
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Part of the recipe for being efficient in finance is that you have your data under control and have digitalized your process to improve data quality and streamline flows. That is what NTT DATA’s solution helped us achieve.

Pia Nørholm VP, Financial Reporting & Compliance, Dovista

Challenges

  • Dovista’s old finance system did not support their needs after seeing massive growth from acquiring a number of brands in different markets
  • Different ERP systems and local charts of accounts in the company’s markets resulted in inconsistent key definitions and data quality
  • Not all markets have SAP S/4HANA as required to benefit from using the reporting financial statements system Group Reporting

Solution

  • Group Reporting to support external and internal reporting’s need for transparency and quality in data

Benefits

  • Dovista has gained more details and insights – minimizing the need for follow-up questions and time-consuming loopbacks
  • The system setup provides a common language of definitions, which ensures consistency across all markets’ accounts
  • As controls are built into the system, Dovista is ensured accurate accounts and higher data quality providing a better basis for decision-making
  • The company’s ability to close the books on time has improved thanks to more data transparency and higher traceability – all contributing to a more efficient and automated audit process
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Customer Reference
Digitalizing Finance Processes Opens New Doors to Improved Data Quality and Insights

In 2021, Dovista concluded that their finance system did not support the new management and consolidation needs that arose as the company doubled in size. Together with NTT DATA, Dovista explored how to streamline and digitalize parts of their financial closing process.

Read more

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