Investment Banking




& Utilities

Food & Beverages

& Logistics




Bringing Light to Fimlab’s Costs & Profitability

Taking cost analytics into a testing environment

Fimlab Laboratoriot Oy Ltd is one of Finland’s leading clinical laboratory companies. It operates from more than 100 locations and employs 1,100 laboratory professionals. This enables it to serve more than one million people, providing more than 15 million diagnostic tests every year. “We were looking for a solution that would allow us to manage the profitability calculation of our extensive and rather complex service package. We have been really pleased with the Wevision service. Expertise and dedication to our problems are top notch. Wevision also deserves thanks for its excellent project management. The results come as promised” Teija Vehmas CFO, Fimlab

Our Understanding

Increased competition in the industry and ever more stringent transparency requirements demanded the introduction of sophisticated cost analytics and reporting based on the actual use of laboratory resources. Fimlab also wanted to get an accurate and comprehensive view of costs and profitability throughout the organisation. These challenges were exacerbated by the fact that impressive expansion of operations through mergers and organic growth meant that current internal accounting resources could no longer provide the support and transparency required.

Our Approach

Wevision began collaboration with Fimlab with a two-day workshop to determine the baseline, target status, and key challenges. The workshop resulted in a deployment plan that established the necessary resources and timetable for execution. Implementation was then carried out in close co-operation with the responsible business controller, CFO, IT and key operational staff. Key features of the solution:
  • All locations and processes are modelled: from cost equivalence to external accounting
  • Calculations are performed at the most granular level possible: individual test transaction
  • Full Profit and Loss view for all key dimensions, e.g. test transaction, sub-product, product, workstation, department and location were obtained
  • Sampling logistics were modelled
  • Reporting of results via OLAP cube and wider usage as a part of data warehouse

Measures of Success

​The solution provides day-to-day decision-making support for a multitude of business needs and what-if scenarios. It has enabled benchmarking and identification of best practices, as well as harmonization of operations. Furthermore, the model enables Fimlab to maintain an up-to-date pricing process. At the same time, it flags up any outliers and discrepancies in diagnostic test costs across the organisation. Just as importantly, the cloud based delivery model with ongoing Managed Service helps to keep the model up to date and refreshed for reliable analytics and informative decision making.

Enjoying our content?

Sign up today to stay on top of our latest news and articles