Laerdal has dedicated the last 60 years to helping save lives and

we have big ambitions to make a huge impact on society.

So, our goal is to save 500,000 more lives every year.

Two years ago,

we decided to go for Board.

One of the key criteria was that it should be best in class and

it should be cloud.

We had four projects that we wanted implement.

We had Board Financial Consolidation,

which was to deliver financial statements to the board

and to the authorities.

We had Managerial Reporting,

which was to deliver financial reporting to our internals,

as in managers and keeping KPIs.

We have Project Budgeting and Reporting, which was to provide the project

managers, such as myself, with finance on our project on how we're doing.

And we also had a Project Sales,

Marketing, and Service Forecast, which was, for them, to

be able to put in their sales forecast and to provide information for our supply chain to be able

to deliver on those forecasts.

Laerdal was looking for a new financial consolidation,

reporting and forecasting tool.

The goal for the project was to automize as

much of the processes as possible, so that the users can spend their time

in analyzing and understanding the data that is presented.

We also wanted to bring in more information,

more dimension to make analysis better.

What is important to see here is that we have the reconciliation database

and that means that all the data is reconciled

here, so that we are absolutely sure that

the BFC,

the statutory, and managerial reporting is aligned. When we

validate every month,

we validate 33 legal entities in Board.

Then we look at the BFC

and managerial.

So in BFC,

we followed the built-in process that's already there.

We consolidate 96 reporting units, 16 nodes,

19 currencies,

285 cost centers, and 229 product groups.

So then,

we take a look at the project budgeting and sales marketing.

The project budgeting and reporting is a step-by-step process that's been

built.

Here, the users follow the different processes that they are

told to do,

and they end up with a budget summary. And again, with the forecast

figures,

you see that we follow a given step-by-step process,

which ends up in the forecast summary.

Then we have the sales,

marketing, and service forecasts. Here again,

same idea.

Follow a

step-by-step

process to enter in data and, as you

see here, we have simultaneous data entry from 33 countries.

Scenario, simulation,

multi currency

data entry,

audit ability and validation workflow.

So now we're in much better shape.

We have the financial figures to support our business.

We have the KPIs presented to management.

The project managers can use the systems to drill down and see where are my costs coming

from.

They can go so far that they can actually pick up the invoice itself and bring it up.

So it's a huge improvement.

But, we would have never,

ever changed our master data unless we had seen the transparency that

Board gave us to start.