Known for its delicious products, Finnsweet Group’s business is a versatile challenge for financial management professionals – the requirements of factories, store chains, wholesalers and warehouses need to be managed together and separately.
Finnsweet is a diversified group of companies specializing in the import, wholesale, packaging and manufacturing of confectionery, chocolate and bakery products, and a traditional family business. The Group also includes Finlandia Candy’s factories in Riihikoski and Suomussalmi, as well as the Karkkitori store chain in the Helsinki Metropolitan Area. Most of the turnover comes from the sale of imported sweets, and exports are also strongly developed. As a heartfelt Finnish flagship company, Finlandia Candy has made a social commitment that promises to keep manufacturing in Finland as well as striving to use domestic raw materials. Collaboration with Gallant, which covers the Group’s accounting, payroll and payment management, has lasted for more than 20 years with familiar financial experts and new professionals.
– Gallant manages the financial management of the diversified group. They have sufficient resources, extensive expertise and the quality and flexibility we require, says Tamara Liimatainen, CFO of the Finnsweet Group.
Versatile group accounting
The three diverging business areas of the Finnsweet Group, factory production, stores, and wholesale and warehousing, are challenging to Group accounting.
– Factories reduce capacity and profitability of products in relation to production. The stores follow the margin and their cost structure is different. In addition, business logic for wholesale and warehousing is different from both, and they must be familiar with the inventory cycle and the seasonal peaks, Tamara continues.
The importance of accurate information is emphasized in busy financial management. With Gallant, things are done right away, without having to check them afterwards. When financial management is in place, the satisfaction of customers, personnel and stakeholders is improved.
– For example, salaries and bills are paid on time and correctly, and unnecessary collection letters are not sent. Gallant also deserves praise for its ability to utilize our system, which includes production management and logistics alongside financial management. With digitalization, one-third of financial management issues are automatically registered, saving time and money and reducing human errors, says Tamara.
Finnsweet plans to develop both internal accounting and reporting as a more effective tool for the board and management.
– My advice for those looking for financial management skills is to get a smart partner first and foremost. With 25 years of experience, I say that trust is the key. With Gallant, we can concentrate on our work. They have done an excellent job, so I highly recommend them, says Petri Salonen, CEO of the Finnsweet Group.
The importance of accurate information is emphasized in busy financial management. With Gallant, things are done right away, without having to check them afterwards.
CFO Tamara Liimatainen, Finnsweet Group