Driving efficiency and trust in financial operations for a leading European investment platform
Overview
Our client is a leading European investment platform which manages over €21 billion in assets across real estate, venture capital, credit, and private equity. They have over 700+ employees and operations spanning across Norway, Sweden, Denmark, Luxembourg, Germany, Finland, and the UK. They represent one of the region’s most dynamic investment groups with multiple holdings.
By 2017, the scale and complexity of their financial operations had reached a point where outsourcing became a strategic necessity. They chose Baltic Assist as their trusted partner. The collaboration was initially for 31 investment companies in Norway, but it has gradually expanded to over 210 entities across Europe.
Challenges
HQ Location
Denmark
Company
European Investment Firm (Confidential)
"The team demonstrates exceptional proactivity and ownership, consistently delivering quick turnarounds with a genuine willingness to help. We're extremely satisfied with our working relationship and the calibre of their employees. They bring strong technical skills and professionalism, coupled with a positive, collaborative mindset that makes a real difference. Their ability to step in when needed, adapt rapidly, and work seamlessly across teams has created a tangible impact for our organisation."
— received feedback from the client
Solution
- Accounts Receivable: Invoicing & collections
- Accounts Payable: Supplier invoices & payments
- Intercompany Transactions: Reconciliation across 200+ legal entities
- Manual Payments: Secure, urgent transactions
- Financial Accounting: Bookkeeping, month-end close, reporting, reconciliations
- Employee Expenses: Processed via Acubiz, fully integrated into ERP
- Master Data Management: Consistency in ERP data across entities
Systems leveraged: Microsoft Dynamics 365 Business Central (ERP), Nomentia (Treasury), Acubiz (Expenses), Rillion (AP), BlackLine (reporting & reconciliation).
The onboarding journey
- Two structured go-lives: January 1st and March 1st, 2024
- Recruitment of 21 FTEs dedicated to the client
- ERP super users appointed for Microsoft Dynamics 365 and BlackLine
- Extensive knowledge transfer sessions with local finance managers
- Business trips both ways to strengthen relationships and align expectations
Challenges faced: migrating large volumes of financial data into new ERP environments and onboarding new staff into highly complex processes.
Solutions: Clear documentation, regular alignment meetings, flexible problem-solving, and — above all — a spirit of “shared responsibility.”
By April–May 2024, service delivery reached a stable and high-quality level.
Impact & Value Delivered
- Smooth, reliable month-end closures – achieved through BlackLine task automation and real-time dashboards
- Cross-country standardization – uniform processes for 200+ entities
- Flexibility & scalability – ability to onboard dozens of entities without disrupting quality
- Trusted partnership – client continues to delegate more responsibilities
- BlackLine dashboards ensure visibility of all tasks and reconciliations
- Regular cross-functional meetings align both sides during close cycles
- Dedicated relationships between Baltic Assist accountants and local finance managers foster quick, localized decision-making
Conclusion
This project was the first time Baltic Assist deployed a fully segregated sub-team model (AR, AP, Master Data, Intercompany, etc.). The approach proved highly successful for large-scale clients, setting a benchmark for future projects. We learned that with structure, preparation, and open collaboration, even complex, multi-country finance operations can be standardized and delivered with excellence.
The Baltic Assist–Client collaboration demonstrates how outsourcing, when done right, can be a strategic enabler. It is not simply about cost savings but about building trust, scalability, and resilience in financial operations.
The client continues to expand their reliance on our services, proving that strong partnerships drive long-term success
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