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Modern financial reporting with Power BI software

The financial reporting solution delivered to Toyota Tsusho Nordic was implemented using an agile iterative model

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Customer story: Toyota Tsusho Nordic

Toyota Tsusho Nordic Oy sells new and used Toyota and Lexus vehicles and provides authorized maintenance services and body shop services. It has three operating locations: Toyota Kaivoksela, Lexus Kaivoksela and TsushoAUTO. Toyota Tsusho Nordic Oy's net sales for the financial period 2020–21 amounted to approximately EUR 93 million.

Toyota Tsusho Nordic needed an agile solution for modern financial reporting due to a change in the company's accounting system. Invenco (now part of Innofactor) was chosen as the supplier due to its in-depth Power BI capabilities and strong references from previous solutions of a similar nature.

Implemented in two stages, the project remained on schedule and on budget

The project was implemented with a quick turnaround in fall 2021, using Microsoft's database solution and Power BI for reporting. In the first stage, the focus was on building an expandable data warehouse and income statement reporting. The second stage included importing budgets into the data warehouse and balance sheet reporting.

Financial reporting was implemented using Invenco's agile iterative model, which involves regular meetings with the customer and thinking about the project's outcome together.

"The project was completed on schedule, and the initial cost estimate was accurate. We are in a good position to move forward," says Controller Eero Holopainen from Toyota Tsusho Nordic Oy.

"The project was completed on schedule, and the initial cost estimate was accurate. We are in a good position to move forward."

Eero Holopainen
Toyota Tsusho Nordic

How it was done

The following solutions, among others, are part of the overall solution implemented for Toyota Tsusho Nordic:

Invenco is now part of Innofactor

On June 30, 2022, Innofactor acquired the entire share capital of Invenco Oy, a privately owned company specializing in data solutions. As of July 1, 2022, Invenco Oy's name was changed to Innofactor Invenco Oy. Invenco's employees continue their work with the new company. The roles and duties of Invenco's experts remained unchanged.

Please refer to our stock exchange release for more information on the acquisition.

Stock exchange release: Innofactor acquires Invenco

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