Aibidia x Stockmann
Stockmann

1862

Founded

€899M

Revenue

9 500+

Employees

Retail

Industry

Finland

Headquarter
Company Profile

Stockmann Group comprises of Stockmann and Lindex divisions and is a Finnish listed retail company founded in 1862. The group has over 450 stores in 19 countries and a turnover of 899 million euros in 2021.

What Aibidia has provided
  • Transfer Pricing Documentation solution
  • Country-by-Country reporting and analytics solution

Challenge: Incomplete
documentation and a strict deadline

Following an unexpected retirement in late 2021, the responsibility for transfer pricing compliance landed suddenly on the desk of Pekka Poikonen, the Head of Group Finance at Stockmann. At the same time, the group was undergoing major structural changes and Pekka and his team had a strict and tight deadline to finalize Stockmann’s transfer pricing documentation. Facing these significant challenges, as well as the need to get quickly up to speed with the group’s transfer pricing processes, Pekka turned to digital tools as a potential solution for Stockmann.

Quotation

The timing was just spot on and Aibidia offered exactly what we needed.

Pekka Polkonen

Pekka explains that by using Aibidia’s Platform, all of the aspects related to documentation and transfer pricing compliance were automatically covered. Despite a relative lack of experience in dealing with these specific matters, it was possible for the team to gather all the required information and at the same time learn a lot about transfer pricing compliance.

“When I read our old documentation from earlier years,
I did not even realize that there was so much to think about”, Pekka says.

To cap off their experience to this point, they also ended up receiving very positive feedback from the Finnish Tax Administration about the quality of the new documentation created in the Aibidia Platform.

Looking ahead: Digital transfer pricing
the clear way orward for Stockmann

“In the future, we will continue learning even more and take things forward together. We still have some minor improvements or clarifications ahead of us, but I think we’re making good progress”, Pekka says.

He also mentions that the team is highly motivated, with the implementation of the Aibidia Platform and the associated new processes and ways of working leaving a lasting positive impact in the organization. Pekka and his team are eager to continue using the solution and the next step for Stockmann is to extend the implementation of the Platform across the group.

Quotation

Working with Aibidia has been great and I must say FUN.

Pekka Polkonen

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