W5 Solutions is a Swedish provider of advanced defense technology, specializing in training, power, and integration solutions. Their mission is to deliver innovative and sustainable solutions that strengthen both national and allied defense capabilities.
As W5 Solutions transitioned from K3 to IFRS, they needed a system that could efficiently manage financial consolidation and reporting while ensuring compliance with IFRS standards. The complexity of their operations, combined with multiple projects such as implementing AARO Lease IFRS 16 and restructuring their chart of accounts, required a solution that could streamline reporting processes and provide automation.
By leveraging AARO, W5 Solutions successfully navigated this transition. The expertise of AARO’s consultants, particularly their deep understanding of both financial reporting and system configuration, was instrumental in achieving a well-structured and automated IFRS compliance process.
“The consultant supporting us had exceptional accounting expertise, which, combined with system knowledge, was incredibly valuable. Not only have we ensured compliance with key IFRS standards, but the solution is also built with a logic and automation that makes it sustainable both for external reporting and as a foundation for auditors.”
Jeanette Back-Ahlström, Head of Group Accounting, W5 Solutions AB (publ.)
W5 Solutions also undertook major projects, including implementing AARO Lease IFRS 16 and transitioning their chart of accounts to a function-based structure. Through these projects, AARO’s consultants provided valuable support and expertise, ensuring that decisions were well-grounded, and methodologies were structured for long-term efficiency.
“At every phase of the project, AARO’s consultants offered expert insights, helping us weigh the pros and cons of different approaches. The big decisions have always been well thought out, and the working methodology moving forward feels logical.”
Jeanette Back-Ahlström, Head of Group Accounting, W5 Solutions AB (publ.)
With AARO, W5 Solutions has optimized its financial reporting processes, enhancing efficiency and accuracy while reducing manual workload. The transition to IFRS was executed with a clear methodology, making the system both robust and easy to use for ongoing financial management.
Challenge
- Transitioning from K3 to IFRS while ensuring compliance with multiple IFRS standards.
- Implementing AARO Lease IFRS 16 and restructuring the chart of accounts to a function-based model.
- Needing a system that combines automation, logic, and flexibility for financial reporting.
Solution
- AARO’s consolidation and reporting solution, designed to handle IFRS compliance with automated processes.
- AARO Lease IFRS 16 for efficient lease contract management and reporting.
- Expert consultancy to ensure a smooth transition and optimized reporting methodology.
Outcome
- A well-structured and automated IFRS compliance process.
- More efficient financial reporting, reducing manual workload.
- A sustainable solution that enhances external reporting and provides a solid foundation for audits.
