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Press release

Enfo and Loiste conclude a business transaction to outsource contract data management to Enfo

Enfo and Finnish energy company Loiste are expanding their previous agreement with a business transaction by which Loiste will outsource its contract and product data management services to Enfo. The scale of this transaction, including the previous agreement on financial administration services, is unmatched in the Finnish energy sector.

Following the transaction, six people from Loiste’s contract data management services will become Enfo employees, while Loiste will outsource its contract and product data management services to Enfo. The agreement also involves Enfo’s participation in Loiste’s business development projects. Loiste has previously outsourced its entire financial administration function, including 10 employees, to Enfo. 

The purpose of outsourcing its financial administration services and recent business transactions is to simplify Loiste’s back office functions and allow the energy provider to concentrate on core operations. The objective is to provide even better customer service and enable Loiste to focus on competence areas in which the company is best equipped to succeed in the highly competitive energy market. 

“This agreement is the next step in our partnership strategy, and it involves a transfer of customer and online service business and contract data management. This change will take us to a new level of strategic partnership with Enfo,” says Markku Ryymin, CEO of the Loiste Group.

“For our personnel, this is a great career opportunity and a chance to pursue professional development. With the help of our skilled partners, we will be able to offer the best customer experience and provide the best service to Loiste customers,” Ryymin continues.

This move makes the agreement between Enfo and Loiste the most extensive back office process outsourcing deal in any Finnish energy company.

“This transaction further accentuates Enfo’s role in Loiste’s ecosystems. In fact, it expands Enfo’s service selection to energy companies in order to cover ancillary product and contract management services for financial and invoicing functions. With this expansion in its offering, Enfo will be able to provide all back office processes to energy sales companies, from metering data to payment management,” says Ari Vuotilainen, Vice President, Energy and Utility Business at Enfo.

“With this service model, we can deliver cost-efficient back office processes as a service, thereby allowing the company to focus on key areas such as customer experience, brand management and product management,” explains Tero Kosunen, EVP Financial Process Services at Enfo.

For additional information:
Ari Voutilainen, Vice President, Energy and Utility Business, Enfo, tel. +358 44 7193443,
Tero Kosunen, Executive Vice President and Managing Director, Financial Process Services, Enfo, tel. +358 50 444 1200,
Markku Ryymin, CEO, Loiste, tel. +358 50 67 605,

Loiste is a Finnish energy company and have a solid experience of the Finnish energy sector and is one of the leading power companies in Finland. 
Main business areas are sales, power and district heat production and network operations. Turnover is 149 Meur (year 2015) and personnel 65 (2016). Loiste is situated in Kajaani, electricity network is located in Northern Finland in Kainuu and Northern Ostrobothnia and district heat network in Kajaani City.