They didn’t always understand what they had bought. Many times the clients had a different expectation about competence, service and delivery than what these mega suppliers could live up to. When we founded Addedo in 2007, this frustration among clients, and also among some consultants, was our driving force. We had, as individuals, been working together with some of these clients off and on for several years. We felt a great responsibility.
DRIVING FORCE AND CREATION STORY
The name we chose for our brand new company was one to reflect our dedication and genesis. Edo is Latin and stands for yield or birth. We wanted to give birth to something new in this space of uncertainty. We wanted to give birth to new ideas and new solutions, preferably with a yield for our clients. And we wanted to do this with vigor and diversity so we added Add to Edo. The logo symbolizing a seed breaking through a membrane reflected this.
Many of us came from international roles. This had given us colleagues across the borders, which meant that we could set up sister companies in other countries. Only one year later, in 2008, we were established in England, Sweden and Switzerland.
Later, Germany and Norway were added. Over time, some of the subsidiaries have been divested. Now we concentrate on our focus markets. All Addedo companies have always been owned by a significant percentage of locally employed consultants and sales representatives.
POINTED PARTNER STRATEGY
Our initiative was reinforced by the principals’ strategy to increasingly work via partners. Together, we could reinstate the satisfaction of our clients. Today, we have a very good cooperation with our principals and a high level of customer satisfaction. As their understanding for the nature of the acquisitions has increased, especially IBM and SAP have increased their investments in our area. Business Analytics can be found among the overall strategic priorities in both companies. It is beneficial both for Addedo and our clients to be in the center of events.
RIGHT ON TRACK
It has been proven in several ways that we are on the right track. On several occasions, IBM has acknowledged our efforts with various prizes and awards. Addedo was appointed the most driving and dedicated partner in Sweden in both 2009 and 2010. In 2012, we were appointed Europe’s leading Business Analytics Partner by IBM Cognos. In 2013 we received the IBM Beacon Choice Award as one of around 20 chosen partners out of thousands worldwide. Due to some important assignments we have established ourselves as the leading consultancy organization in Sweden for SAP BPC.
CFO AND GROUP FINANCE
Our main counterparts are and have been CFO and Group Finance. This is because we try to be relevant in terms of everything that has to do with group, regulatory and operational reporting as well as planning. Accuracy in forecasts and plans is as critical to quality in financial management as are reliable and fast closings. More and more of our existing and prospective customers therefore review their budget and planning processes. This review is often done in parallel with the operational reporting. This also applies to system support. An increasing number of companies abandon time consuming excel models in favor of established standard systems. We see an increased demand for all our main suppliers’ solutions. Therefore, we are investing more resources in building better solutions for more accurate forecasts.
REGULATORY AND FINANCIAL REPORTING
The requirements for regulatory and financial reporting have increased in recent years. Handling these reporting requirements manually is not sustainable. For some of the requirements, customization of existing systems is enough. For others, new software is required. The goal for us, whether we help to customize existing software or to get a new system in place is automation, security and simplicity. Addedo have developed a number of own solutions to help our customers with the increasing workload. These solutions have quickly established themselves as market leaders.
EXPECTATIONS OF STAKEHOLDERS
Many Group Finance functions work under high pressure. The reporting process is expected to be cost effective, at the same time as it is supposed to be more comprehensive, faster and with forecasts that are more accurate. With operations, owners and other external stakeholders setting up tough and disparate requirements, internal resources are sometimes not enough. Therefore, for a couple of years, we have been offering both interim and consulting services.
As we approach 2020 and almost twelve operating years, we can say that we are the leading consultancy organization in Sweden in systems and process development for financial, group and regulatory reporting, as well as budget, forecast and other types of planning. We do this with dedication and competence, which shows in the high rating in our customer surveys, as well as the fact that we have been averaging 20 new customers per year for the last eight years, and that around 30% of the Swedish listed companies are Addedo customers.
HELP US TO GET EVEN BETTER
We like feedback and hope to hear from you with tips on how we should continue to get better and more relevant. Much of what we do comes from our customers in the form of suggestions, or from proactive discussions with our consultants.