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A student duo from the Aalto University School of Business, working on assignment by Accountor, went in-depth into the automation of financial administration and the possibilities open to measuring the automation capabilities of financial administration software. Based on research, the students created a set of metrics enabling the assessment of the features of various financial administration applications. The two-person student team was made up by Accounting Master’s students Aleksi Hyytiä and Eero Ala-Heikkilä.The project was part of the Customized Student Business Projects concept of the School of Business.

The project provided the students with an excellent opportunity to combine the knowledge that they had acquired with the views of experts in the field.

’We constructed our set of metrics in collaboration with accounting firms and software developers, gaining insights into both the current status of automation in financial administration as well as its future possibilities. Over the course of the project, we conducted interviews and a survey, on the basis of which we constructed the final version of our set of metrics. When devising our set of metrics, we took account of both software features and the user’s viewpoint,’ the students said.

There is a demand for the metrics created by the students in financial administration

According to Petri Karjalainen, Chief Strategy Officer at Accountor Group, the Automaatioaste (’Level of Automation’) project on accounting software, aimed at accounting firms, was an interesting joint project. Over the course of the project, the key players in the field, Accountor, the Association of Finnish Accounting Firms, KPMG and Aalto University, constructed a set of metrics benefiting the entire accounting firm field. The project with the students ran smoothly, producing a high-quality outcome.

Janne Fredman, Leading Expert at the Association of Finnish Accounting Firms, who was also closely engaged with the project, was satisfied with the results of the project.

’There has been a clear need for metrics comparing the usefulness of financial administration software. For example, when acquiring a software, an accounting firm may use the set of metrics in support of its assessment and decision-making. The students made a great job of completing the project – the set of metrics they devised is both practical and comprehensive,’ Janne Fredman comments.

Esko Penttinen, Professor of Practice at the School of Business, joins Fredman in his praises.

’Aleksi and Eero worked in an independent and professional manner. The project proceeded on schedule, and its result is comprehensive and well grounded,’ he says.

The Customized Student Business Projects concept offers students the opportunity to work on solving current challenges faced by corporate business, giving the assigning company the possibility to develop and spar new ideas together with the students.