Nemko’s journey: From cumbersome to a tightly linked chain

Aqsa Butt, Group CFO & SVP Business Support, Nemko Group

A global electrical product testing and certification company, Nemko, tests and approves products, systems, installations, and personnel. The company´s group finance department has moved from static budgets to a rolling forecasting solution in Anaplan. Their goal? Increased transparency, flexibility, better control over existing data, and forecasting automation.

“We are a global and complex but small company. Nemko is on a growth strategy; we are on a development journey. With a limitation, as we are not that big financially yet. Our challenge is to deal with the complexity of finance and production and implement a solution at a reasonable price.” continues Aqsa Butt.

The Norwegian subsidiary of Nemko reviewed its financial support systems, in order to link business management and become more relevant to the business’s performance. The previous tool was cumbersome, and people felt that they almost had to be a programmer to understand it.

Budgeting has been a standalone process and not part of the business. I want to move away from budgeting to rolling forecasts to plan better and handle the expected and unexpected in the best possible way, says Aqsa.

Anaplan is very flexible and agile. It was crucial that we found a local implementation partner in Norway, who understood our vision and needs. Bedford Consulting has very solid competence and good references. Our communication and interaction have been excellent from the beginning.

“We have set up new data structures that give us much better transparency. It improved control of the data – everything from billable hours, projects, and profitability. We have visibility of order reserves, historical data, capacity, and resources.”

Based on our data, we understand what’s going on, and our forecasts tell us how the world will be in the future. We can now act smarter and faster.