Cabonline is the leading taxi company in the Nordics, with 3,000 connected taxi firms and approximately 5,700 vehicles in Sweden, Norway, Finland and Denmark.
Before the AARO implementation project, Cabonline’s group consolidation system lacked end-to-end legal reporting functionality, change tracking and consolidated figure transparency. The group – which boasts approximately 6.2B SEK in revenue and performs about 50K journeys per day – was experiencing difficult reconciliations due to separate operational and legal report handling and time-consuming intercompany matching.
Seeking to make their group consolidation a non-event while they acquired and merged companies, Cabonline leveraged AARO’s sophisticated functionality to manage operational eliminations and organic growth.
“AARO’s operational reporting features are impressive.”
Petter Lindkvist, Head of Group Business Control, Cabonline
Where simplifications or overly complicated adjustments were once applied, AARO provided systematic handling so that managers across all levels of the organization could rely on accurate reporting of actuals, as well as budget and forecast variance. The implementation project was led by Otisco, one of the AARO company’s trusted partners.
In the past, Cabonline’s budgets and forecasts were tedious to produce in Excel. To combat this, Otisco developed an AARO-integrated Excel template that streamlined data entry for cost center managers.
With the click of a button, staff can instantly fetch actuals from AARO and produce budget and forecast data (including intercompany eliminations) for monthly variance reporting. As a result of these changes, organisational accountability has improved and management can deftly react to data changes.
“AARO’s sophisticated acquisition register has been a huge benefit as we’ve acquired and merged companies internally.”
Anders Eriksson, Group Accounting Manager, Cabonline
Historically, intercompany matching was difficult to perform and took several days to superficially reconcile. Today, AARO’s built-in functionality for intercompany matching and eliminations have made a considerable impact on the quality and consistency of reporting within the group.
The flexibility and ease of the AARO interface allows personnel to quickly identify and resolve intercompany differences and forego manual adjustments of legal and statutory calculations.
The AARO software’s systematic handling of once time-consuming manual activities has ultimately shortened Cabonline’s overall reporting cycle.
Challenge
- Existing system lacked end-to-end legal reporting functionality, change tracking and consolidated figure transparency.
- Difficult reconciliation due to separately handled operational and legal reporting.
- Time consuming intercompany matching.
Solution
- AARO software, with an implementation led by Otisco (a trusted partner of the AARO company).
- Operational eliminations and intercompany reconciliation support.
- Operational dimensions integrated with legal reporting.
- Budgeting and forecasting implementation.
Outcome
- Reduced month end reporting cycle.
- Improved reporting quality and clear audit trail available in AARO.
- New insights into the business due to better handling of operational eliminations and changes over time.
- New ability to analyze organic growth without the impact of acquisitions and FX.
- Business controllers optimize time in a single solution to compare actual outcomes against forecasts/budgets.
