Valoo’s rapid growth and finance transformation supported by interim expertise

Valoo, which brings fiber connections to Finnish homes, has grown rapidly in recent years. The implementation of the Adaptive Planning system for internal reporting was an important step towards real-time reporting, data-driven leadership, and a smoother forecasting and budgeting process.

The implementation was carried out by a relatively small team: from Valoo, CFO Vesa Koivula and a Business Controller participated; from NIS, two finance consultants, Riina Valkama and Henna Kettunen, were involved, alongside two representatives from the system provider. The system was built in approximately three months and was taken into daily use as a management tool. The project then moved into a second phase, where integrations between different financial systems were gradually completed during 2023.

“We would not have met the timeline without them”

“We completed the first phase of the project at a very fast pace. We needed experienced controllers to ensure our finance processes met the requirements set by the change, both in terms of capacity and structure. Riina and Henna independently drove the project forward with strong momentum. Without them, it would not have been possible to complete the integration within this timeframe,” summarizes Valoo CFO Vesa Koivula.

Support for the entire finance function

In parallel with the system project, NIS consultants Riina Valkama and Henna Kettunen also acted as close support for the broader finance team. In addition to day-to-day financial tasks, the team contributed to the development of finance processes and supported forecasting and budgeting cycles. As Valoo is growing rapidly, the finance team also received support from NIS in onboarding new employees.

“From the very beginning, we became part of Valoo’s warm workplace community and finance team. We were invited to company events and shared lunches with the team. The fast-paced project made it possible to quickly step into the role and maintain smooth dialogue with the finance team. ‘Smooth’ is a word that well describes our successful and rewarding collaboration,” say Riina and Henna from NIS.

Rapid growth and international ownership increased the need for IFRS expertise

Valoo’s core business has accelerated significantly over the past year. The company is in an intense phase of growth, financing, and acquisitions. New financing structures and other transformation processes have created increased demand for IFRS reporting expertise. Valoo did not have a dedicated specialist for these tasks and did not require a full-time hire. As a result, NIS IFRS consultant Jussi Jurvelin joined the finance team.

“In spring 2023, Valoo had an urgent need to prepare an IFRS purchase price allocation. We quickly solved the situation and then discussed a broader collaboration within finance. During the autumn, we focused on IFRS development for the future. We simplified processes and built solutions so the client would have models and tools ready for the next growth phase,” Jurvelin explains.

Vesa Koivula adds:

“Our collaboration has been efficient and seamless. The work has been adapted to our company’s lifecycle, and together we have developed practical solutions without compromising IFRS requirements. Starting this work early in the company’s growth phase is very important for transparency and for meeting our obligations.”