Mustad Eiendom transforms consolidation and reporting with IBM Controller Cloud
Mustad Eiendom transforms consolidation and reporting with IBM Controller Cloud

Business Challenge
Excel-based consolidation process was laborious, static and heavily dependent on individuals.
Transformation
Renewal of consolidation process by implementing IBM Controller Cloud with help from Intito.
Results
The renewed consolidation process is faster and scalable. It has a structured data flow and a strong audit trail. This has resulted in improved legal and management reporting. Mustad Eiendom’s finance department owns the solution and can adjust it when needed.
We are very pleased with IBM Controller. It’s a scalable and reliable consolidation solution that gives us the confidence and scalability we need to control our financial data and support our decision makers.
Jeanette Andersson, Financial Director at Mustad Einedom
Project Details
Mustad Eiendom, a family-owned real estate company in Oslo, Norway, sought a reliable consolidation solution to support their growth. They own and develop real estate in the area between Lilleaker and Lysaker, Norway. Today, Mustad Eiendom manages more than 350 000 square meters of real estate and receives 55 MEUR in rental income.
“We started in Lilleaker in 1875. We have been there for almost 150 years – and we have a similar long-term perspective for the future as well. We’ve developed a sustainability program that sets out the long-term sustainability goals for Lilleaker, and includes all three dimensions of sustainability; social, economic and environmental sustainability,” Jeanette Andersson, Financial Director at Mustad Einedom, tells about Mustad Eiendom.
Mustad Eiendom needed a reliable and scalable consolidation solution
Mustad Eiendom embarked on a journey to modernize its consolidation and reporting processes to support its aggressive growth strategy. With plans to acquire and establish multiple entities swiftly, Mustad needed a reliable and scalable solution.
Previously, Mustad had performed basic annual consolidation in Excel, which resulted in static reports and a heavy reliance on individuals. The need for a reliable consolidation solution that was dynamic and scalable was evident, along with their familiarity with IBM Controller from previous experience.
Mustad Eiendom chooses IBM Controller
Jeanette Andersson and Jan Magne Aune had Roy Alvin Jenssen as a consultant at their previous workplace. Shortly after joining Mustad Eiendom, they they contacted Roy for assistance with the implementation of IBM Controller. The implementation project started in September 2023, making Mustad Eiendom Intito’s first Norwegian customer.
“Our previous good experiences with both IBM Controller and Roy’s work made it easy to choose Mustad Eiendom’s consolidation tool and implementation partner. We wanted to make a quick transition from cumbersome Excel-based consolidation to a consolidation solution to save time and get better management reports,” says Jeanette Andersson.
The implementation was completed in a few months with minimal customer involvement
The implementation project started with a kick-off meeting to understand the status of the consolidation as it was and to understand the goals for the consolidation process renewal. A detailed design structure document was approved by Mustad Eiendom, followed by the build phase, which required minimal customer involvement. Historical data for Q2 and Q3 2023 was consolidated into the new system, preparing Mustad Eiendom for year-end reporting.
The renewed consolidation process is owned by Mustad Eiendom’s Finance department
Intito delivered IBM Controller to Mustad Eiendom in time for year-end reporting. The renewed consolidation process is faster and more agile than the previous Excel-based process. Mustad Eiendom now has a structured data flow and a strong audit trail, as well as improved data import, reconciliation and intercompany eliminations. As well as improved legal and management reporting.
“We chose the IBM Controller Cloud for its adaptability and finance department ownership, reducing our reliance on consultants. The finance team now manages the account and consolidation structures independently, which improves efficiency. We appreciate that we can get support from Intito in Norwegian when we need it,” says Jan Magne Aune, Group Chief Accountant at Mustad Einedom.
Following the implementation process, Mustad Eiendom is refining the data import processes for IBM Controller. This partnership exemplifies Intito’s ability to deliver customized, scalable solutions to meet evolving business needs. This successful collaboration underscores Intito’s commitment to providing customers with robust, scalable financial solutions.
We are very pleased with IBM Controller. It’s a scalable and reliable consolidation solution that gives us the confidence and scalability we need to control our financial data and support our decision makers,” Jeanette Andersson concludes.
Solution components
• IBM Controller Cloud

Project Details
Mustad Eiendom is a family-owned company owning 350 000 square meters of real estate in Oslo, Norway. They needed a scalable and reliable consolidation solution to support their growth strategy. With Intito’s help they implemented IBM Controller Cloud in a couple of months. Now the consolidation process is faster, efficient and scalable.
Mustad Eiendom is a family-owned company owning 350 000 square meters of real estate in Oslo, Norway. They needed a scalable and reliable consolidation solution to support their growth strategy. With Intito’s help they implemented IBM Controller Cloud in a couple of months. Now the consolidation process is faster, efficient and scalable.
Business Finland is the government organization for innovation funding and trade, travel and investment promotion. Their budgeting and forecasting was done in Excels. It was laborious and did not support Business Finland’s planning needs. With Intito’s help, they moved their budgeting and forecasting to IBM Planning Analytics Cloud. After one successful budgeting round, the mood is positive. Saved time will be used for more value-adding tasks and the further development of Business Finland’s planning processes.
Raisio is an international company specialized in healthy, responsibly produced food and ingredients. The group’s comparable net sales for continuing operations was EUR 219.5 million in 2023. Raisio wanted to modernize its group accounting and consolidation solution because it no longer met today's needs. At the same time, they decided to move to a cloud-based solution. The modernization has resulted in significant time savings for the finance team. Unnecessary steps were reduced, so the end result is now more streamlined process. Flexibility was taken into account when setting up the solution, for example, future structural changes can be made with minimal effort.
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