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- Øivind Horpestad, CEO, Qben Infra AB
When you manage 40+ companies across three investment platforms, different countries, and four different accounting systems, the challenge isn't just consolidation. It's financial control - having the data you need, when you need it, to make good decisions.
That was the ambition at Qben Infra, a Nasdaq-listed infrastructure investment company that invests in and develops companies across power, construction, and testing, inspection & certification in the Nordic region. With subsidiaries running Tripletex, PowerOffice Go, Fortnox, and Xledger, the financial data needed for group reporting and management decisions was spread across systems that were never designed to work together.
Any organization managing 40+ subsidiaries across different ERP systems faces the same structural reality: gathering financial data, harmonizing account structures, and eliminating intercompany transactions is manual, time-consuming work, regardless of how strong the finance team is. Foran active acquirer like Qben Infra, where new companies on new systems regularly enter the group, the complexity only grows.
Qben Infra's finance team handled this well, but the process consumed time and attention that could deliver more value elsewhere, particularly around intercompany transactions. In a group with 40+ companies across multiple levels, reconciling intercompany positions, identifying mismatches, and eliminating internal transactions meant constant back-and-forth between parties across the group.

- Vemund Helgesen, Group Controller at Qben Infra
Like many multi-entity groups, Qben Infra had considered traditional consolidation platforms. But the challenge wasn't just the initial implementation with typically months of setup, chart of accounts harmonization,and internal IT coordination. It was what comes after. Every new acquisition, every restructuring, every change to a subsidiary's chart of accounts risks becoming another project. For an active acquirer, the lifetime effort of maintaining a traditional platform can exceed the effort of implementing it.
Standardizing ERPs across the portfolio wasn't practical either. Subsidiaries had chosen their systems for good local reasons, and forcing a change would create disruption without clear benefit at the subsidiary level. What the group needed was financial control on top of existing systems - control that adapts as the group evolves, without ongoing IT projects every time the business changes.
Corvenia connects directly to Qben Infra's ERPs throughs ecure API integrations. Financial data from all subsidiaries flows into Corvenia automatically - no manual exports, no file uploads, no coordination between entities.
The platform's AI suggests how each subsidiary's chart of accounts maps to the group's unified structure. New accounts that appear between periods are flagged and mapping suggestions are generated automatically. The group controller reviews and approves - always human in control, but with 95% of the manual work removed.
What used to take a full week of calendar time now takes a couple of hours.
But the impact goes beyond efficiency. Because the data is gathered and mapped automatically, it's available sooner, it's more consistent,and it covers the full group. Qben Infra feeds the consolidated data from Corvenia into Workday, where they compile final reports for the market, the board, and platform management - keeping their established reporting workflow intact while removing the manual bottleneck upstream.
Management now has access to financial data that is both current and complete - which changes how decisions get made.
"The difference isn't just the time saved. We now have a financial foundation we can trust, across the entire group. That means management can make decisions based on actual data rather than waiting for reports that arrive late," says Helgesen.
For an active acquirer like Qben Infra, one of the most practical benefits is what happens when the group structure changes. When a new company enters the portfolio, connecting it to Corvenia is straight forward. The platform suggests account mappings based on the ERP data, and the controller approves. No new project. No rebuilding.
"Adding new companies to the group is significantly easier now. What used to require dedicated effort to integrate into our consolidation process has become a much simpler task." comments Helgesen
The data foundation that Corvenia has built across Qben Infra's portfolio opens the door for capabilities beyond consolidation and reporting. With structured, normalized financial data available across the full group, the conditions are in place for deeper analysis, KPI monitoring,variance detection, and cross-entity benchmarking - moving from financial control to strategic insight and proactive decision support.
For Qben Infra, the shift is already underway. What started as a consolidation challenge has become a platform for better management control across the group - and the foundation for intelligence capabilities that will continue to evolve as the business grows.
If you manage multiple entities across different ERP systems and consolidate manually today, we can determine fit in a 30-minute call - and show you what control looks like for your group within days.