OpusCapita to take care of SATO Corporation’s Accounts Payable
May 26, 2014
Residential property investment company SATO Corporation in Finland and OpusCapita Solutions Ltd have concluded an agreement to hand over SATO’s Accounts Payable as a transfer of business to OpusCapita, a company specializing in automation and outsourcing of financial processes, on 1 June 2014.
The transfer of business means that the production of SATO’s Accounts Payable will be handed over in full to OpusCapita. Under the agreement, which will be in force for at least five years, OpusCapita will take care of SATO’s Accounts Payable as a comprehensive solution, its system solution as a cloud service and the development of its puchase invoice process.
“By working with a partner who efficiently utilizes the latest and high-quality technology, SATO is aiming to benefit from modern processes in its invoice approval method and then later on in its all purchase orders. We selected OpusCapita, as they were able to offer a service package suitable for our needs and with a tight deadline,” says Esa Neuvonen, CFO, SATO Corporation, outlining the background to the cooperation.
In addition to a purchase invoice circulation system, OpusCapita’s comprehensive service will introduce automatic matching, which will, among other things, remove extra manual stages. “Our goal is to modernize SATO’s Accounts Payable process by increasing automation,” says Petteri Heikinheimo, Vice President, Finance and Accounting Services at OpusCapita.
SATO Corporation is one of Finland’s leading residential property investors. SATO’s goal is to offer comprehensive rental housing options and excellent customer experiences. SATO owns a total of approximately 24,000 rentable homes in Finland’s largest urban growth centers and in St Petersburg.
In its operations, SATO promotes sustainable development and initiative, and openly interacts with its stakeholder groups to produce added value. SATO operates on a long-term and profitable basis. It increases the value of its housing properties with investments, sales and repairs.
In 2013, the SATO Group’s net sales totaled EUR 311.5 million, its operating profit was EUR 178.3 million and profit before taxes was EUR 140.8 million. The value of SATO’s investment property is about EUR 2.4 billion.