Common target for Toyota and OpusCapita: More effective processes
At the Toyota Group, production lines and processes never reach completion. There is always room for improvement. This also applies to the outsourced financial processes that Toyota Finance Finland is developing in collaboration with OpusCapita.
OpusCapita has been responsible for Toyota Finance Finland’s accounts payable and receivable, payments and general ledger since 2011.
The Toyota Group’s financing company is a Finnish pioneer in financial outsourcing solutions. Previously, its financial processes were managed by the Toyota companies’ service center. Over time, however, the center’s resources turned out to be insufficient for the financing company’s increasingly diversified needs.
“We were already familiar with outsourcing as an operating model, and OpusCapita’s services best met our needs. However, the main reason for our selection of a partner was a common vision of how to make our processes more efficient,” says Business Controller Jarno Kirjavainen.
More resources for the financing business
Based on several years of experience, Kirjavainen is pleased with the service.
“Continuous improvement on a daily basis, also known as Kaizen, is one of the cornerstones of our operations. Everyone is responsible for development. Those whose daily work is related to financial processes, such as purchase invoices, usually come up with a large number of ideas of how to make the processes more efficient.”
“It’s important to use resources for business development as effectively as possible. This is the goal of all of our development expectations.”
The future is predictable and mobile
According to Kirjavainen, cooperation in the outsourcing of financial processes brings multilevel benefits that are reflected in costs and as operational improvements in financial processes.
“Now we know exactly how much our financial processes cost. Their expenses are predictable, which makes budgeting easy.”
According to Kirjavainen, expert and product development resources are important in a financial management partner. An individual company cannot adjust its operations and system solutions to the changing world as rapidly and extensively as a specialized service provider.
“In accounting, for example, the closing of a period at the end of the month takes a much shorter time now that it’s managed by OpusCapita. This leaves me more time to analyze and report the figures,” says Kirjavainen.
“OpusCapita’s browser-based solutions allow us to approve purchase invoices and other documents on our mobile phones or tablets. Services in general are becoming increasingly mobile.”
Owned by Toyota Motor Corporation, Toyota Finance Finland is a company that offers financing services for Toyota’s private and corporate customers as well as dealers. The company has around 35,000 active financing agreements in Finland. Toyota has similar financing companies in 35 countries.
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