The three logistics academics at the then Helsinki University of Technology, Mikko Kärkkäinen, Johanna Småros and Michael Falck, saw much room for improvement in the efficiency of the retail chain of supply chains. They decided to start applying good theories to practice and solving the issues through business venture. The result was RELEX Solutions, a software company providing comprehensive supply chain solutions for businesses in the retail sector, developed to manage large amounts of data.
Ten years later, the company is growing rapidly, on average, RELEX has grown at over 50 per cent annually, and in 2017 alone, more than 100 new employees have been recruited. Relex now has offices in nine countries and customers in over 20 countries.
"The amount of data that is constantly being processed in the retail sector is obviously huge, and at the same time the demand for more efficient solutions is tough," Johan Haataja (CFO) opens up the challenges of the industry. "We were one of the first companies in the industry to offer business solutions through the cloud, while retailers otherwise have woken up to this global trend only in recent years."
Internationally growing company needs agile financial management
In order to streamline internationalization and growth, RELEX needed an agile and trusted financial management partner, and co-operation with Staria started in 2016. Over the years, RELEX has transformed as a company due to its strong growth, which has posed its own challenges when the five subsidiary's financial services migrated simultaneously to the new service provider.
There has been a great deal of success stories in the cooperation right from the start but also learning by doing. Staria's proactive service attitude and excellent workmanship have made an impression on Haataja.
"Flexibility in partnership is vital for a growth company. When there are changes at RELEX, Staria is able to react quickly and keep things up to date. Even the difficult processes and projects have always been handled with proactive attitude by working out the noted points of development. Staria has been a partner who has made real changes when it's needed."
RELEX Solutions is Staria's ONE STOP® -service customer. Of the subsidiaries operating in RELEX's international market, the financial administration of five (Finland, Norway, Sweden, Germany and France) is managed by Staria.