Business intelligence as a catalyst for growth at Tefcold
At TEFCOLD, distributors of commercial refrigeration and freezing, growth through acquisitions is a central part of the strategy. Therefore, they needed a strong Business Intelligence solution that could quickly create transparency and coherence across subsidiaries and all functions.
Power BI for Business Central
TEFCOLD acquired their first company in England in 2018 and, in connection with this, switched their ERP system to Business Central across the group. Business Central is relatively inflexible in terms of reporting.
Therefore, TEFCOLD sought a scalable BI platform that could support their growth strategy and provide them with flexible options to create dynamic transparency and insight across companies and functions. All to create a foundation from which they could drive increased performance.
When NORRIQ pitched a BI solution with NORRIQ’s BI Accelerator for Business Central, TEFCOLD found it to be the right solution. The BI Accelerator provided them with a standard setup to build from – on a large scale and with great success.
Subsequently, TEFCOLD has made five more acquisitions, which have been rolled out on their BI platform.
All data collected in one place
With their solution from NORRIQ, TEFCOLD can store all data in a huge “archive” – namely in a Data Warehouse.
The archive eliminates all speculation about where data should be stored, and from their Data Warehouse, they can use the Power BI solution to extract and visualize data at any time, so the entire organization can benefit from it.
As they acquire new companies, TEFCOLD can now store all historical data in one central place. This means they can use the sales history from acquired companies and combine that data with their current sales figures.
Requirements for the BI Solution
TEFCOLD approached NORRIQ with specific requirements for their BI solution, including:
- Scalability: When TEFCOLD acquires a new company, their setup must be rolled out quickly, and everyone must have access to the same advanced functionality that has been built.
- Expertise: The solution must be delivered by a sparring partner who understands TEFCOLD, their business logic and functions, and who has a deep understanding of the BI platform, data competencies, modeling, and interaction with integrations.
- Adaptability: There must be the possibility for ongoing adjustments and changes as TEFCOLD develops the business. Being limited by a standard solution is not an option.
- Support: A reliable and responsive partner who can quickly help with high-quality development, updates, and any troubleshooting. TEFCOLD wanted a “one-point of contact” so they wouldn’t have to constantly brief different partner employees on their setup. This also applies to support in relation to other IT solution providers, such as CRM systems. The partner must be able to find solutions together.
- Budget and Costs: Price is always important, so the price of consulting hours and the Accelerator package must be competitive and match the quality of the deliveries TEFCOLD receives.
- Communication and Collaboration: Good communication and a good relationship are important for continuously developing the collaboration in a positive direction.
Value all around
Today, TEFCOLD uses their BI solution in all their companies in Europe and across functions, for example, in connection with:
- Top Management Reporting: Transparency and comparison of performance across companies. This gives top management an overall view and allows them to discuss the right focus areas.
- Financial Reporting: All financial reports are displayed in BI, and all companies report in the same way.
- Sales and Customer Analysis: Full transparency in sales data across all conceivable parameters. They know exactly where they perform well, why, and vice versa. Thus, they can focus on action instead of analysis.
- Sales Managers: All TEFCOLD’s salespeople have their own application with their own customers and data. Here they automatically perform a wide range of analyses, which they have access to. This way, they can make a difference for customers daily, based on automated insights. This means less time on analysis and preparation and more time to make a difference for TEFCOLD’s customers based on these insights.
- Weekly/Monthly Reports: All companies in TEFCOLD have a screen in the office showing the week’s performance, so everyone always knows how they are performing. The screen updates every 20 minutes.
- Marketing: Leads, conversion rates, and performance across channels, so they have insight into what works where.
The biggest gains
- “One Data Truth”: TEFCOLD now spends much less time discussing facts and data foundations and much more time discussing problem-solving and action.
- Better Decisions: They act much less on intuition/guesswork and much more on facts across departments. This allows TEFCOLD to make better decisions.
- Time Savings: Most reporting and analysis processes have been automated, saving time that would otherwise be spent on manual data collection, processing, and report preparation.
- Competitive Advantage: Compared to their competitors, TEFCOLD can act much faster and make better decisions based on data, giving them a competitive advantage.
- Scalability Supports Strategy: TEFCOLD can “power up” a new acquisition and create full transparency very quickly with a highly scalable solution.
Jacob Ulfkjær Fog, Director, Strategic Business Development Director, Strategic Business Development
TEFCOLD
About TEFCOLD
For over 35 years, TEFCOLD has been at the forefront of providing dependable products and profitable solutions to meet the diverse needs of customers in the commercial refrigeration and freezing sector for foods and beverages.
As a market leader in the cooling and freezing industry, we pride ourselves on creating value for our clients through our deep understanding, compassion, and extensive experience.
With an inventory exceeding 70,000 units and an efficient logistics system, we ensure fast and precise delivery, no matter the order size. Our service goes beyond just products; we offer expert consultancy and personalized support, driven by our unwavering passion for refrigeration, freezing, and customer satisfaction.
Founded in Viborg in 1987 by Torben and Frede Christensen, TEFCOLD continues to uphold these values.