{"id":7138,"date":"2020-10-09T14:31:30","date_gmt":"2020-10-09T14:31:30","guid":{"rendered":"https:\/\/www.trintech.com\/case-study\/danica-pension\/"},"modified":"2025-11-20T20:26:03","modified_gmt":"2025-11-20T20:26:03","slug":"danica-pension","status":"publish","type":"case-study","link":"https:\/\/www.trintech.com\/case-study\/danica-pension\/","title":{"rendered":"Danica Pension Increases their Efficiency and Accuracy Across the Balance Sheet Reconciliation Process"},"content":{"rendered":"
\n\t
\n
\n
\n

Danica Pension Increases their Efficiency and Accuracy Across the Balance Sheet Reconciliation Process<\/h1>\n

Case Study<\/p>\n <\/div>\n

\n

Share<\/h2>\n
\n \n Email<\/span><\/span>\n <\/a>\n Twitter<\/span><\/span><\/a>\n Facebook<\/span><\/span><\/a>\n Linkedin<\/span><\/span><\/a>\n<\/div> <\/div>\n <\/div>\n\n \n\t<\/div>\n<\/div>\n\n\n\n

Business Drivers to Automate<\/h2>\n\n\n\n

Danica Pension struggled with a very manual and inconsistent approach when it came to their balance sheet reconciliations. \u201cWe are working within a fund administration where we have a substantial need to reconcile data across the business,\u201d said Thomas Snorgaard, Senior Specialist at Danica Pension. \u201cWe were using Excel spreadsheets and complex VBA solutions to retrieve data and would have to manually print out various balance sheets in order to reconcile the growing amounts of accounts and data.\u201d<\/p>\n\n\n\n

Danica Pension knew they needed a solution to eliminate the tedious and manual daily tasks their team was spending the majority of their time on and because they had multiple systems in use, there were often times missing supporting documentation. In addition, they were in need for a solution for their monthly, quarterly and yearly declaration and needed to provide data to the ever-growing and ongoing internal and external audit requirements. <\/p>\n\n\n\n

\n
\n \"Finance\n\n <\/div>\n\n
\n
\n\n

Why Adra\u00ae by Trintech\u00ae <\/h2>\n\n\n\n

\u201cWe knew we needed to implement a solution that would eliminate these manual tasks and provide a transparent audit trail of all our documentation,\u201d continued Snorgaard. \u201cWe tried using a corporate-acquired tool to solve our challenges, but the tool was too complex for our end users.\u201d <\/p>\n\n\n\n

Danica Pension decided to implement Adra in 2018. \u201cThe implementation of the Adra solution was quick and seamless, and the entire team was very satisfied with the roll-out,\u201d continued Snorgaard. \u201cWe knew what we wanted out of a solution and where we wanted to be and the Adra consultants were there to provide on-site training and guide us in the right direction.\u201d<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

\n
\n \"Persons\n\n
\n \n \n <\/svg>\n\n
\n

We used to spend a significant amount of time and effort on low-value, tedious tasks. Now with Adra, those tasks have been automated so our teams can focus their time and effort on high-value tasks. We also now have visibility to easily investigate any issues in the processes, like exceptions.\u201d <\/p>\n <\/blockquote>\n\n

\n Thomas Snorgaard<\/span>\n \n Senior Specialist<\/span>\n <\/figcaption>\n\n <\/figure>\n <\/div>\n\n
\n
\n\n

Solution in Action<\/h2>\n\n\n\n

Adra has been instrumental in helping Danica Pension eliminate manual work and gain real-time visibility and control into their balance sheet reconciliations. They use Adra to reconcile the whole transaction-side of the investment which is a 3-step process: entering the investment as a transaction, sending the transaction to their GL system, Microsoft Dynamics, then aggregating all transactions to send to the bank. <\/p>\n\n\n\n

In addition, the solution has allowed Danica Pension to reduce the risk and time across their process. The Adra solution is very easy and intuitive, so it is very easy for the Danica Pension\u2019s team to on-board new employees onto the solution. In addition, because of the set rules in place within the solution, Danica Pension can ensure everyone is following one, standardized process.<\/p>\n\n\n\n

Looking ahead, Danica Pension has a continuous improvement strategy and will be continually optimizing the functionality within Adra to gain further efficiencies with the potential of leveraging the solution in other parts of the business in the future.<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n

\n
\n
\n
\n\n
\n
\n

Read the Full Case Study<\/h2>\n\n\n\n

Discover key insights and actionable strategies by downloading our full case study.<\/p>\n\n\n\n

\n
Download Case Study<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n
<\/div>\n\n\n\n
\n

See Trintech in Action<\/h2>\n\n\n\n

Seeing is believing. Discover why Trintech is the real leader in financial close automation.<\/p>\n\n\n\n

\n
Book a Demo<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n <\/div>\n <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Business Drivers to Automate Danica Pension struggled with a very manual and inconsistent approach when it came to their balance sheet reconciliations. \u201cWe are working within a fund administration where we have a substantial need to reconcile data across the business,\u201d said Thomas Snorgaard, Senior Specialist at Danica Pension. \u201cWe were using Excel spreadsheets and complex VBA solutions to retrieve data and would have to manually print out various balance sheets in order to reconcile the growing amounts of accounts and data.\u201d Danica Pension knew they needed a solution to eliminate the tedious and manual daily tasks their team was spending the majority of their time on and because they …<\/p>\n","protected":false},"featured_media":33261,"template":"","topic":[69,71,67,76],"product":[82],"class_list":["post-7138","case-study","type-case-study","status-publish","has-post-thumbnail","hentry","topic-account-reconciliation","topic-improve-visibility","topic-increase-efficiency-effectiveness","topic-standardizing-processes","product-adra"],"acf":[],"lang":"en","translations":{"en":7138},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/7138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study"}],"about":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/types\/case-study"}],"version-history":[{"count":0,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/7138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media\/33261"}],"wp:attachment":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media?parent=7138"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/topic?post=7138"},{"taxonomy":"product","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/product?post=7138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}