Timik Medical (Timik Group AB) is a Nordic medical technology company with locations in Sweden, Finland, Denmark and Norway. The company has a strong reputation with its supplies of medical equipment in diagnostics, sports medicine and rehabilitation to public and private businesses. With management and local warehouses spread across national borders, as well as a common remote warehouses, the company relies on flexible IT solutions that simplify the financial and logistics functions of the company.
A digital journey
With strong growth in several countries, Timik Medical saw a need to modernize and streamline internal IT processes. In 2015, the pursuit of a new ERP system began.
"We wanted a leading supplier with expertise and resources, and with a strong focus on future opportunities. We were in dialogue with several suppliers before the final choice fell on Visma. They were the only supplier that could deliver both finance and logistics in the same cloud-based solution,” says Jan Johannsen, CFO.
Johannsen has many years in the Medtech industry. Prior to Timik Medical, he worked in the IT sector. He has learned how the right business solutions can streamline and create business growth.
Demanding logistics needs
With many vendors around the world, more storage, and large internal flow of goods, logistics was the big challenge. Automation and simplification were important requirements for a new solution. Alternative solutions that met all needs proved to be more complicated than initially assumed. Finally, the decision was made to use Visma.net ERP.
Steep growth curve
Timik Medical has major growth ambitions. In 2016, the company traded around €10 million. The target for 2017 is €12 million. "The long-term and ambitious target is €45 million in 2022. But this requires more than just organic growth. Investments in modern and future-oriented IT solutions like Visma.net's solution support this. Efficiency becomes essential for logistics and administration,” adds Johannsen.
Today, the group has a hybrid solution where Timik AS (Norway) uses the Visma Global ERP system, while Sweden, Finland and the parent company are in the cloud with Visma.net Financials and Visma.net Logistics.
"The goal is to move the entire company into the cloud in 2018. From today's point of view, it looks promising. Automation of internal processes has made us more efficient. We are now geared for larger volumes, without the need to increase the number of employees in the administration,” Johannsen adds.
«The internal processes have become more effective after we moved the logistics to the cloud. Now we have full control over the flow of goods and warehouses, which we did not have that before.»
– Finance and Administration Director Jan Johansen