Reference: Fortaco Group

Fortaco Group Gains Control of Cash Management with an Agile and Streamlined Solution

When the globally operating Fortaco Group sought a way to unify its decentralized cash management processes, traditional and heavy systems were not the answer. They chose the Finnish solution, Avalo, which delivered exactly what was promised: visibility, ease of use, and seamless bank connectivity without unnecessary complexity.

Fortaco is Europe's leading independent strategic partner to the heavy off-highway equipment industry, offering technology, vehicle cabins, steel fabrications, and assemblies. As the company grows and its ownership structure evolves, the need for transparent and centralized cash management has become increasingly critical.

The Starting Point: Fragmented Processes and Lack of Visibility

Before implementing Avalo, Fortaco Group's cash management was fragmented. Finnish operations and some foreign entities relied on an outsourced accounting partner's systems, while other subsidiaries handled payments directly through local online banks.

"The biggest issue was the lack of visibility. We could only see the process at the point where the payment data came in for approval. We lacked a collective view of how much was being paid, from where, and what the payments actually contained," describes Tuomas Ahvonen, Group Finance & Treasury Manager at Fortaco Group.

Tuomas Ahvonen, Group Finance & Treasury Manager

Selection Criteria: Agility and a Lean Framework Won Out

As an organization, Fortaco Group prefers straightforwardness, so they expected their partner to provide a lean and efficient solution. In comparison, many of the extensive Treasury Management Systems (TMS) on the market appeared too heavy and expensive for their specific needs.

“We wanted a lightweight solution that included all the necessary core functions without extra features. Avalo was significantly more straightforward and cost-effective than the competitors I know—there are no unnecessary bells and whistles; we only pay for what we need," states Riku Raehalme, External Treasury Advisor.

Technical flexibility was also high on the criteria list, particularly the ability to flexibly connect Avalo to various banks. In Fortaco Group’s case, this included establishing a connection to a local Polish bank as part of the group's SAP S/4HANA transition.

Riku Raehalme, External Treasury Advisor

Implementation: "A Perfect Match for Our Needs"

According to Fortaco Group, the implementation process was smooth. Avalo’s expert support received special praise for being highly accessible, which built strong confidence in the project's success.

"We got exactly what we were looking for. Avalo is a 'perfect match' service for our needs. The implementation was handled with agility, and the experts' response time has been top-notch," Ahvonen summarizes.

"I would say that Avalo is an agile Finnish challenger," Raehalme concludes.