Mio streamlines its financial planning and follow-up with Hypergene
Following a selection process, the retail chain Mio AB has chosen Hypergenes' cloud-based solution to streamline and increase the quality of the its financial planning and follow-up. The solution will be used throughout the Group, including Mio's 72 stores, some of which they own themselves and some of which are owned by franchisees.
“We were looking for a solution that could both raise the quality and streamline our processes, both in terms of our internal reporting and the work with budgets and forecasts. We have been and still are growing strongly and so we needed a solution where we could develop our internal reporting quickly according to our new needs. We chose Hypergene as the solution which offered what we were demanding,” says Thomas Borén, CFO at Mio AB.
Initially, the focus is on reporting and analysis as well as budgets and forecasts in Hypergene. In the next step, it will be possible to add functionality for goal management as well as project and investment budgets.
Mio is a Swedish retail chain for furniture and home furnishings that has been supplying interior design solutions for the home for almost 60 years. Mio is owned by the retailers who run their stores based on Mio's concept and the needs of the local market. Total sales in the Mio chain amount to approximately SEK 6.5 billion including VAT, and they have approximately 2,000 employees.