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Init4U, the accounting and ERP advisory firm with offices in Oslo and Trondheim, is entering into a partnership with Corvenia. Through the partnership, Init4U’s clients can get a unified picture of their group finances on top of the ERP systems they already use, without replacing or rebuilding anything.
Init4U supports clients across strategy, accounting, payroll, procurement and ERP. Insights are easily available for individual companies, but for groups with multiple legal entities, often across different systems, many still struggle to get a unified group picture. The result is manual processes, delayed reporting and too little time for analysis to support good decisions.
For Init4U, the partnership with Corvenia is more than a new product in the portfolio. It is a central part of the company’s plan to grow from NOK 30 million to NOK 100 million in revenue over the next three years. Init4U has built a strong position as a trusted advisor to businesses in accounting and ERP. Clients expect Init4U to find the best solutions, not just implement the obvious ones. The partnership with Corvenia means the firm can now offer technology that solves a problem many clients experience, but few have had a good answer to. When a client grows from a single company into a group, or when reporting no longer holds together across entities, Init4U now has an answer that can be implemented quickly and without significant risk.
“We have ambitious growth targets, and to reach them we need to offer more than traditional advisory. Corvenia gives us a solution that creates real value for clients from day one and fits well with what we already deliver on ERP. This is the first of several new services we will launch as part of this strategy.”
Øyvind Skarelven, COO, Init4U
Corvenia connects to existing ERP systems and builds a live data layer with consolidated ledger, KPI dashboards and drill-down to entity level. Intercompany eliminations and chart of accounts mapping happen automatically, driven by AI and always with human approval. Clients are up and running in hours, not months. Manual processes that previously took days; collecting figures from different systems, harmonising charts of accounts and eliminating intercompany transactions, now happen automatically. Controllers and CFOs get an updated basis for decisions instead of waiting for figures to be processed the following week, and management teams can act on current numbers. Because Corvenia uses the ERP systems already in place, clients avoid both the cost and the risk of new IT projects.
“Good governance and decisions starts with the right numbers at the right time. We use AI to automate the collection, consolidation and quality assurance of data, so that management always has an up-to-date and reliable basis for decision-making, without new IT-projects.”
Bård Myrstad, CEO and co-founder, Corvenia
Init4U is a Norwegian advisory and accounting firm specialising in accounting, payroll and ERP implementation. Authorised accounting firm with offices in Oslo and Trondheim, founded in 2022. www.init4u.no
