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Versowood | Financial management of the future with Dynamics 365

Esa Yli-Maunula, CFO, Versowood Oy

Efima's satisfied customers and expertise convinced us that we had chosen the right partner.

The Finnish family business and Finland's largest private producer and processor of sawn timber, Versowood Oy, was faced with a big choice. The long-serving financial management system was aging and no longer responded to the business and reporting needs of a strongly growing company. The introduction of the new system was also seen as an opportunity to improve operations, and after careful mapping, Versowood chose the Microsoft Dynamics 365 solution delivered by Efima.

We sit at Versowood’s headquarters, in a meeting room decorated with the company’s own timber. The walls exude a solid, decades-long experience and pride in the company's craft. Esa Yli-Maunula, CFO of Versowood, is also confident in front of us when describing the company's operations. “Customer knowledge, long experience and great product development have been the keys to the company’s success”, he says. The aforementioned qualities have proven to be a recipe for success, as the company currently supplies sawn timber and other wood products to more than 50 countries around the world in addition to the domestic market.

Global growth requires world-class financial management to support it

"We had a 13-year-old financial management system that no longer met the needs of the present and the future", says Yli-Maunula. The company decided to find the most appropriate system for itself, and as an experienced CFO, Yli-Maunula already knew that the selection phase was a critical part of the project. “We first defined our own needs and then we mapped out the systems that best met our needs. As a result of a careful selection process, we selected Microsoft Dynamics 365 (MS D365). Once the system was selected, the best supplier was sought through careful analysis”, he describes the process at Versowood.

Selecting the right supplier was taken seriously and Versowood ensured the partner's expertise through, among other things, several reference calls. In the end, the chosen partner was Efima, whose satisfied customers and the professionalism already highlighted during the tender phase convinced Versowood's decision-makers. The choice also proved to be the right one, as the system project was successfully completed on schedule. "Cooperation with Efima went well and we are very satisfied with the progress of the project", Yli-Maunula rejoices.

Versowood's own effort and close partnership bore fruit

Versowood understood that a system project does not take place on a turnkey basis, but also requires a strong commitment and focus internally towards a common goal. "In projects, it is important to choose the right people on both sides", says Yli-Maunula. Versowood has an experienced and professional financial management team that took the project forward in a structured and determined manner. Yli-Maunula also praises the people on Efima's side. “Efima’s experts and everyone we work with were all professional and knowledgeable. Problems were always tackled quickly and solved together”, he describes.

After a successful project, Versowood's trust in the potential of the new system is strong. The company has got rid of several previously time-consuming work steps in financial management processes. Next, the intention is to utilize the MS D365 system for reporting financial figures with the Power BI tool. “We want to be a growing, profitable and innovative company whose products are of interest to customers both at home and abroad. We already see the new financial management system and reporting supporting our goals, and in the future we will certainly get even more out of the possibilities of the modern system”, Yli-Maunula concludes.