Mikko Wartiovaara, the Chief Financial Officer of Inderes Oyj, was featured in an article by SaaShop in the spring of 2024. Drawing on years of experience in financial leadership, he shared insights gained from his nearly four years at Inderes Oyj.
The core idea of Inderes is to democratize Nordic investor information by connecting investors and listed companies. A key trend underpinning this is the increasing transparency and openness of capital markets demanded by investors. Inderes’ products for investors and listed companies are built around the Inderes platform developed by the company. A growing number of listed companies linked to the platform enables better services for investors. Currently Inderes has over 400 listed company customers and Inderes investor community has over 70,000 active members with a keen interest in stock investing.
Inderes is on the Nasdaq First North, and it operates in Finland and Sweden.
Consolidating software brought transparency
Inderes Oyj has been a client of SaaShop’s consolidation services for about a year now. Wartiovaara emphasizes that it’s challenging for CFOs to get a comprehensive view of IT costs, especially as the company has grown from a small organization to a large one. Over the years, employees have ordered various software products using both personal and company credit cards.
Now, with software consolidation, the company has regained transparency into software costs. By consolidating all software onto a single invoice, Inderes has gained a true understanding of how much they’re actually spending on all their software services.
Software consolidation provides companies with an efficient solution to manage their software costs and improve financial transparency. Before consolidation, employees struggled to track expenses incurred from software purchases made with different credit cards, creating challenges for financial management in terms of data collection and cost tracking.
Wartiovaara emphasizes the improvement in cost visibility brought about by software consolidation. Previously, costs could vanish into “Other expenses,” and now the company gains a precise understanding of the funds allocated to software. Additionally, Wartiovaara stressed that if one truly wants to understand the entire company’s SaaS landscape, accessing information is easier. Furthermore, electronic invoicing streamlines financial management, as there’s no longer a need to gather information; everything is “Access to the information”.
Problem-solving attitude and project simplicity stayed memorable
SaaShop started off with a strong problem-solving attitude right from the beginning. Among the initial challenges was the need for Inderes to gather and compile all software-related information, including tracking software renewal dates for their transfer to SaaShop.
The software consolidation process with SaaShop went swiftly and smoothly for Inderes. Wartiovaara wouldn’t hesitate to embark on a similar project again, as it was a quick and effortless process that didn’t require significant efforts from Inderes. The software consolidation stood out from many other IT projects as it wasn’t a heavy burden.
