Financial planning solution for VR Group/ Invitation to participate

VR-Yhtymä Oyj / VR-Group Plc (hereinafter also "VR" or "contracting entity") is starting a public tendering process to procure and implement modern cloud-based enterprise performance management (EPM) system, which would contain the following features: financial planning, CSRD and consolidation. From these features, consolidation will be an option and decision on its implementation will be made after the financial planning and CSRD are implemented. VR is looking for a single product or products from the same product family as well as supplier who will implement the solution and provide needed support. The scope of the procurement will cover all these aspects. VR Group Plc has three main business units, which are VR Transpoint, VR Long distance and VR City traffic. Besides these, we have maintenance company (FleetCare). These businesses have different business logics and high number of internal sales and cost allocations in between the units. This increases complexity of the model and number of users, which will be using the system when implemented. The aim is that the procurement process would end in Q2/2025 where the implementation would start, and the goal is to have a fully implemented system in place without the option of consolidation by the end of year 2025. The schedule of the procurement may however change during the procurement procedure. VR is looking for partner, which has capacity to implement the system in the given target schedule and has expertise on driver based financial planning, CSRD and ESG as well as on consolidation. Driver based financial planning means that we have defined a set of drivers which are used to forecast financial performance. Drivers are used to forecast revenue and variable costs, which creates the backbone of understanding the financial performance and creates informed forecasts. Fixed costs planning will be carried out in the system, as well as allocation of costs between business units as well as handling of intercompany sales. EPM will be used to forecast investments and calculate depreciations based on investment forecasts. Model will be used in rolling forecasting, budgeting as well as on 5-year planning. CSRD implementation will start with EU taxonomy, GHG emission calculations and forecasts and categorization of investments to green investments. In the implementation, double materiality assessment and last mile reporting will not be included in the scope. Consolidation will be an option, that VR has a right to exercise at its discretion. VR is looking for a complete financial consolidation solution, which includes all the standard consolidation entries – i.e. intercompany eliminations, goodwill recognition, investments eliminations, production into own use and elimination of internal margin as well as consolidated reserves. System architecture of VR and information flow requirements as well as other functional and non-functional requirements will be provided later during the procurement procedure.