{"id":7283,"date":"2022-10-28T18:59:40","date_gmt":"2022-10-28T18:59:40","guid":{"rendered":"https:\/\/www.trintech.com\/case-study\/lb-forsikring\/"},"modified":"2025-06-05T14:25:43","modified_gmt":"2025-06-05T14:25:43","slug":"lb-forsikring","status":"publish","type":"case-study","link":"https:\/\/www.trintech.com\/case-study\/lb-forsikring\/","title":{"rendered":"LB Forsikring has Streamlined the Financial Close Process with Adra\u00ae by Trintech"},"content":{"rendered":"
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LB Forsikring has Streamlined the Financial Close Process with Adra\u00ae by Trintech<\/h1>\n

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

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Highest priority: Audit trail and documentation<\/h2>\n\n\n\n

\u201cBefore we got Adra, we reconciled in Excel spreadsheets. In practice, we made extracts from our financial system, then the various balance accounts were sent to the employees who were supposed to reconcile. It wasn\u2019t agile. There could easily be changes in the bookkeeping, and it was a difficult process to adhere to the requirements for documentation,\u201d says Finance Specialist at LB Forsikring, Kjeld Halkj\u00e6r.<\/p>\n\n\n\n

\u201cWe worked on a couple of systems, and Adra gave us the opportunity to visit some customers and hear their experiences. We also looked at the price, but the most important thing was to find a system that could meet our needs. On that basis, we agreed on Adra,\u201d says Kjeld Halkj\u00e6r.<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

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We use Balancer as soon as we start our closing process. We have day-to-day updates of balances, and that gives a more uniform reconciliation because we also have controllers to look at the assignments. Once they have approved a task, you can focus on the next one. It creates calm and gives a good flow.\u201d <\/p>\n <\/blockquote>\n\n

\n Anja Jonassen<\/span>\n \n Finance Officer<\/span>\n <\/figcaption>\n <\/div>\n
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We use Matcher primarily for bank reconciliations, and it has provided a far better audit trail than in an Excel sheet, where it is difficult when the audit comes three months later and asks what has been offset, etc. We also use Matcher for 1:1 reconciliations on larger transaction accounts. It has clearly improved our process for bank reconciliations.\u201d<\/p>\n <\/blockquote>\n\n

\n Anja Jonassen<\/span>\n \n Finance Officer<\/span>\n <\/figcaption>\n <\/div>\n
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Task Manager controls the processes in our period end. A task list gives an overview of what we have to go through in order to close the month, quarter, six months or year. You can set up dependencies, so certain tasks are solved before others, which gives a streamlined process. We also put in other tasks – e.g. reports or notes for the annual report – so we get it all done on time and get the documentation uploaded.\u201d<\/p>\n <\/blockquote>\n\n

\n Anja Jonassen <\/span>\n \n Finance Officer<\/span>\n <\/figcaption>\n <\/div>\n <\/div>\n
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Better cooperation and more flexibility<\/h2>\n\n\n\n

Both Kjeld Halkj\u00e6r and Anja Jonassen find Adra to be intuitive and user-friendly software, which also benefits collaboration and provides more flexibility in everyday life.<\/p>\n\n\n\n

\u201cAdra is a very open system. Everyone can see where we are in the process, and as employees, we have gained a better understanding of each other\u2019s tasks and the dependence that may exist between them,\u201d says Anja Jonassen, and Kjeld Halkj\u00e6r concludes: \u201cAs a manager, it is nice to keep track of how far we are in the closing process, and whether there are bottlenecks or tasks we are missing. Then we can move around and ensure that things are resolved.\u201d<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

About LB Forsikring<\/h2>\n\n\n\n

LB Forsikring is a member-owned insurance company. It is currently the third largest insurance company on the private market in Denmark, with over 400,000 members and more than 750 employees. As a financial company, LB Forsikring must adhere to documentation requirements concerning transactions and reconciliations. Therefore, an audit trail and proper documentation were at the top of the priority list when in 2014, the company had to find a solution that could improve their financial close process. Since implementing Adra, LB Forsikring has seen several benefits, such as a streamlined financial close process and a continuous overview of all processes, tasks, and statuses.<\/p>\n\n\n

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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

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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

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

About LB Forsikring LB Forsikring is a member-owned insurance company. It is currently the third largest insurance company on the private market in Denmark, with over 400,000 members and more than 750 employees. As a financial company, LB Forsikring must adhere to documentation requirements concerning transactions and reconciliations. Therefore, an audit trail and proper documentation were at the top of the priority list when in 2014, the company had to find a solution that could improve their financial close process. Since implementing Adra, LB Forsikring has seen several benefits, such as a streamlined financial close process and a continuous overview of all processes, tasks, and statuses.<\/p>\n","protected":false},"featured_media":33318,"template":"","topic":[69,66,64,70,71,76],"product":[82,87,88,86],"class_list":["post-7283","case-study","type-case-study","status-publish","has-post-thumbnail","hentry","topic-account-reconciliation","topic-controls-compliance","topic-financial-close","topic-financial-reporting","topic-improve-visibility","topic-standardizing-processes","product-adra","product-balancer","product-matcher","product-task-manager"],"acf":[],"lang":"en","translations":{"en":7283},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/7283","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\/7283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media\/33318"}],"wp:attachment":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media?parent=7283"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/topic?post=7283"},{"taxonomy":"product","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/product?post=7283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}